Farm Consolidation to Drive Equipment Sales
During the 1990s, farms with less than 600 crop acres operated majority of the cropland. However, things have changed dramatically over the past decade with farms of at least 1,110 acres dominating the crop production in the United States. Further, many farms in the country operate at over 5,000 to 10,000 acres. Experts believe that this shift of acreage to larger farms is a part of complex set of structural changes in the crop agriculture. Number of mid-size farms has declined, while farm numbers at the extremes are growing. Though both cropland and production have shifted to larger farms, the average farm size has not seen major changes. Larger crop farms continued to realize better financial performance. The average rates of return on equity increased with farm size in the commodity categories of wheat, fruits, corn, soybeans and vegetables. As these large farms are capital intensive, farmers are likely to opt for efficient agricultural irrigation machinery to achieve required returns.
Drip Irrigation to Dominate the Market Growth
In 2016, North America occupied the third largest share among all the regions in the world with about 18% share. Drip irrigation occupied the major share in irrigation market with 31.05% of share in the country and was valued to more than USD 0.62 billion in 2016, 44.5% of the land in the country is utilized for agriculture out of which 16.8% is arable land, 0.3% is permanent crop and 27.4% is permanent pasture.
Rise in the country’s population has led to an increased demand for agricultural products. In such a case the cultivation of agricultural crops on arable land with limited resources has become the need of the hour. With the help of drip irrigation, this can be dealt with better efficiency than sprinkler irrigation.
Key Developments in the Market
- July 2016: Nelson Irrigation Corporation launches a new tan Bubble-Wide spray plate for low energy precision irrigation applications.
- December 2016: Toro announces release of Evolution AG irrigation controller, a simple and economic controller that gives agricultural growers the features they need.
Reasons to Purchase this Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Study on product type and application expected to dominate the market.
- Study on areas expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel).
1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Modelling
3. Executive Summary
4. Market Overview and Trends
4.2 Market Trends
4.3 Porter’s Five Force Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the Industry
5. Market Dynamics
5.1.1 Increase Awareness for the Use of Micro Irrigation for Water Conservation
5.1.2 High Efficiency with Negligible Efforts
5.2.1 High Price
5.2.2 Less Returns in the Tropical Areas
5.3.1 Water Management through Technological Upgradtion
6. United States Agricultural Irrigation Machinery Market Segmentation, By Technology
6.1 Sprinkler Technology
6.1.1 Center Pivot Irrigation Systems
6.1.2 Lateral Move System
6.2 Drip Irrigation Systems
6.2.1 Surface Application
6.2.2 Subsurface Application
7. Competitive Landscape and Introduction
7.2 Market Share Analysis
7.3 Developments of Key Players
8. Key Vendor Analysis (Overview, Products & Services, Strategies)
8.1 Nelson Irrigation Corporation
8.2 Netafim Limited
8.3 Jain Irrigation Systems Limited
8.4 Toro Company
8.5 T-L Irrigation Co.
8.6 Valmont Company
8.7 Deere & Company
8.8 Lindsay Corporation
8.9 Rivulis Irrigation