The irrigation controllers market is projected to grow at a CAGR of 17.53%
LONDON, Jan. 15, 2018 /PRNewswire/ -- The irrigation controllers market is projected to grow at a CAGR of 17.53%.
The irrigation controllers market is projected to reach USD 1,186.6 million by 2022, from USD 529.2 million in 2017, at a CAGR of 17.53% from 2017 to 2022. The market is driven by the increasing need for water conservation, adoption of modern farming practices, and increased demand for lawn and garden equipment. The high investment costs and low farm incomes are expected to restrict the market growth.
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The weather-based segment led the irrigation controllers market in 2016.
The weather-based segment accounted for a major share in the irrigation controllers market. The demand for weather-based irrigation controllers is witnessing a rise in developed regions such as North America and Europe. These controllers obtain inputs from satellite weather stations or local weather servers and update the amount of irrigation required.
The smart controllers product segment is projected to be the fastest-growing from 2017 to 2022.
The smart controllers segment is projected to grow at the highest CAGR during the forecast period. The features of smart controllers such as sense flow, sense high flow, and the ability to generate and analyze weather and soil reports are the key factors leading to an increased demand for smart controllers across regions such as North America and Europe.
Non-agriculture application segment is projected to be the fastest-growing from 2017 to 2022
The non-agriculture application segment is projected to grow at the highest CAGR during the forecast period. The growing number of sports grounds, golf courses, and lawn & gardens is expected to increase the demand for irrigation controllers during the forecast period.
Drip/trickle irrigation type segment is projected to be the fastest-growing from 2017 to 2022.
The drip/trickle segment is projected to grow at the highest CAGR during the forecast period. Irrigation controllers are largely used in drip irrigation systems as they help increase efficiency of the entire irrigation system
Asia Pacific is projected to grow at the highest rate during the forecast period.
The Asia Pacific irrigation controllers market is projected to grow at the highest rate between 2017 and 2022. The demand for irrigation controllers is expected to increase in the Asia Pacific region owing to the rising number of sports facilities in the region and increased investments in greenhouse farming by international players.
The breakdown of the primaries on the basis of company type, designation, and region conducted during the research study, is as follows:
-- By Company type: Tier I - 40%, Tier II - 20%, and Tier III - 40%
-- By Designation: C-Level - 20%, Directors - 40%, Others* - 40%
-- By Region: North America - 20%, Europe - 20%, Asia Pacific -40%, RoW - 20%
*Others include sales managers, marketing managers, and product managers.
Note: Tier I: Revenue > USD 1 billion; Tier II: Revenue USD 500 million to < USD 1 billion; Tier III: Revenue < USD 500 million
The global market for irrigation controllers is dominated by large players such as Valmont Industries (US), Lindsay Corporation (US), Toro (US), Hunter Industries (US), and Rain Bird (US). Some of the other players in the irrigation controllers market include HydroPoint Data Systems (US), Netafim (Israel), Calsense (US), Glacon (Israel), Rachio (US), Weathermatic (US), Green IQ (Israel), and Nelson Irrigation (US).
Research Coverage
The report analyzes the irrigation controllers market across different types, products, applications, irrigation types, and regions. It aims at estimating the market size and future growth potential of this market across different segments such as type, product, application, irrigation type, and region. Furthermore, the report also includes in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall irrigation controllers market and the subsegments. This report will help stakeholders to better understand the competitor landscape, gain more insights to better position their businesses, and make suitable go-to-market strategies. The report will also help the stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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