Latin America Mechanized Irrigation Systems Market was worth USD 1.82 billion in 2021 and estimated to be growing at a CAGR of 11.1%, to reach USD 3.08 billion by 2026. Agriculture is one of the earlier occupations of man. Irrigation has always been a part of agriculture. Due to the depletion of water and extent of droughts, conventional irrigation methods cannot be used anymore. New irrigation methods using equipment designed for the sole purpose of irrigation such as Mechanized Irrigation Systems came into the market.
Crops needed to be needed to be watered regularly from time to time. Thus an active market for irrigation industry is present. Irrigation industry has been evolving with many changes over the past few years. By considering environmental factors, new technology is becoming smarter. By carefully programming the sensors and controllers, we are able to understand the topography and climate of the plant and thus anticipating the needs of the plants.
Drivers and Restraints of Latin America Mechanized Irrigation Systems Market:
To gain competitive advantage over other companies, major players are driving the market with expansions, acquisitions and new product launches. These factors are driving toward the reduction in irrigation costs which is encouraging farmers to use Mechanized Irrigation Systems. Industries are investing in customer awareness programmes about cost reduction benefits due to the installation of Mechanized Irrigation Systems. Narrow level of commercialization in the developing economies and high cost of equipment are the major restraining factors.
Latin America Mechanized Irrigation Systems Market – By Type:
Center pivot irrigation systems
Center pivot irrigation systems are projected to hold the largest market share in this segment followed by Lateral move irrigation systems because of its larger usage in developed countries.
Latin America Mechanized Irrigation Systems Market – By Application:
Agricultural crops held the major market share in applications segment followed by lawns & gardens. It is due to the large area over which agricultural crops are being harvested all over the world.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. Brazil and Argentina has large population with huge demand for food and agricultural products and are also the leading markets for Mechanized Irrigation Systems. Government subsidy policies and investments of private organizations are driving the market growth rate in this region.
Some of the key industries in the Mechanized Irrigation Systems market are Lindsay Corporation, Nelson Irrigation Corporation, Jain Irrigation Systems Limited, Driptech India Pvt. Ltd., Rain Bird Corporation, Premier Irrigation Adritec, Rivulis Irrigation, Netafim Limited, The Toro Company, T-L Irrigation, and Valmont Industries.
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