REDDING,
Calif., May 3, 2024 /PRNewswire/ -- According
to a new market research report titled, 'Irrigation Equipment
Market by Component (Tubing, Sprinklers, Emitter, Drippers,
Pumping, Filters, Connectors, Sensors, Regulators), Irrigation Type
(Drip, Sprinkler, Pivot Irrigation), Application (Agricultural,
Non-agricultural)—Global Forecast to 2031,' published by
Meticulous Research®, the irrigation equipment
market is projected to reach $15.75
billion by 2031, at a CAGR of 9.3% from 2024 to 2031.
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The growth of the irrigation equipment market is driven by
increasing water scarcity, government efforts towards water
conservation, and the growing need to mechanize agricultural
operations. However, the high costs of implementing and maintaining
advanced agricultural irrigation equipment restrain the growth of
this market.
Furthermore, the proliferation of technological innovations
within irrigation equipment and increasing automation in irrigation
systems are expected to generate growth opportunities for the
stakeholders in this market. However, the lack of awareness
regarding advanced irrigation technologies is a major challenge
impacting the market's growth.
Additionally, the increasing adoption of precision farming
techniques and the emergence of Irrigation as a Service (IaaS) are
prominent trends in the irrigation equipment market.
Irrigation refers to the application of water to the soil
through various systems. Irrigation equipment encompasses various
components, including tubing, sprinkler, emitter/drippers,
irrigation valves, filters, irrigation controllers, sensors,
pumping, connectors, pressure regulators, and monitoring &
controlling devices used in several irrigation systems, such as
drip irrigation, sprinkler irrigation, pivot irrigation, furrow
irrigation, and terraced irrigation. They are specifically designed
to meet the water requirements of different crops and plants while
minimizing water waste. These components enhance efficiency and
productivity by providing the precise water requirements for each
crop.
The irrigation equipment market is segmented by component
(tubing, sprinklers, emitter/drippers, pumping, irrigation valves,
filters, connectors, irrigation controllers, sensors, monitoring
& controlling devices, pressure regulators, and other
components), type (drip irrigation, sprinkler irrigation, pivot
irrigation, and other irrigation types), application (agricultural
irrigation equipment {open-field agriculture [cereals & grains,
fruits & vegetables, oilseeds & pulses, other crops],
closed-field agriculture}, non-agricultural irrigation equipment
{golf courses & sports grounds, commercial areas, residential
areas}), and geography (North
America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa).
The report includes an extensive assessment of the key strategic
developments by leading market participants in the industry over
the past four years (2021–2024). The irrigation equipment market
has witnessed several partnerships, agreements, collaborations,
mergers, and acquisitions in recent years. The key players
operating in the irrigation equipment market are The Toro Company
(U.S.), Jain Irrigation Systems Limited (India), Netafim Ltd. (Israel), Valmont Industries, Inc. (U.S.),
Lindsay Corporation (U.S.), Hunter Industries Inc (U.S.), Rain Bird
Corporation (U.S.), T-L Irrigation Company (U.S.), Reinke
Manufacturing Co., Inc. (U.S.), Rivulis Irrigation Ltd.
(Israel), Nelson Irrigation
Corporation (U.S.), Irritec S.p.A (Italy), Chinadrip Irrigation Equipment
(Xiamen) Co., Ltd. (China), and Galcon Bakarim Agricultural
Cooperative Society Ltd. (Israel).
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Key Findings in the Global Irrigation Equipment Market
Study:
Among all the components studied in this report, in 2024, the
tubing segment is expected to account for the largest share of
64% of the irrigation equipment market, owing to the
increasing utilization of drip and sprinkler irrigation techniques,
favorable government interventions, ongoing innovation in tubing
technology, and the absence of viable substitutes for tubing in
irrigation systems. Moreover, this segment is also projected to
register the highest CAGR during the forecast period of
2024–2031.
Among all the irrigation types studied in this report, in 2024,
the drip irrigation segment is expected to account for the largest
share of the global irrigation equipment market owing to several
factors, including advancements in drip irrigation systems,
escalating adoption of advanced agricultural practices, and
increasing product launches by key market players. Moreover, this
segment is also projected to register the highest CAGR of
10% during the forecast period of 2024–2031.
Among all the applications studied in this report, in 2024, the
agricultural irrigation equipment segment is expected to account
for the larger share of 78% of the global irrigation
equipment market owing to the increasing land area under crop
cultivation, increased adoption of advanced irrigation techniques
in farming, escalating water scarcity in the agriculture, and the
presence of numerous suppliers of agricultural irrigation
equipment. Moreover, advancements in agricultural technologies and
increasing government initiatives promoting sustainable
agricultural practices are further anticipated to support the
growth of this segment during the forecast period. Additionally,
based on type, agricultural irrigation equipment is further
segmented into open-field agriculture and closed-field agriculture.
In 2024, the open-field agriculture segment is expected to account
for the larger share of the global agricultural irrigation
equipment market.
Based on geography, the global irrigation equipment market is
majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin
America, and the Middle
East & Africa. In 2024,
Asia-Pacific is expected to
account for the largest share of 60% of the irrigation
equipment market. The Asia-Pacific
irrigation equipment market is estimated to be worth
USD 5.01 billion in 2024.
Asia Pacific's significant market
share can be attributed to the rising inclination towards
mechanization and precision irrigation, government initiatives
aimed at conserving water, increasing water scarcity, and the
rising per capita incomes of farmers in the region. Furthermore,
the availability of loans and subsidies for purchasing irrigation
equipment drives the growth of this regional market.
North America is expected to
witness significant growth during the forecast period of 2024–2031,
mainly due to the increasing adoption of autonomous and precision
irrigation solutions driven by advancements in technology and the
integration of global positioning systems (GPS) into irrigation
equipment. Moreover, in North
America, Canada is slated
to register the highest CAGR during the forecast period of
2024–2031.
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Scope of the Report:
Global Irrigation Equipment Market Assessment—by
Components
- Tubing
- Sprinklers
- Emitter/Drippers
- Pumping
- Irrigation Valves
- Filters
- Connectors
- Irrigation Controllers
- Sensors
- Monitoring & Controlling Devices
- Pressure Regulators
- Other Components
Global Irrigation Equipment Market Assessment—by Irrigation
Type
- Drip Irrigation
- Sprinkler Irrigation
- Pivot Irrigation
- Other Irrigation Types
Global Irrigation Equipment Market Assessment—by
Application
- Agricultural Irrigation Equipment
- Open-field Agriculture
- Cereals & Grains
- Fruits & Vegetables
- Oilseeds & Pulses
- Other Crop
- Closed-field Agriculture
- Non-agricultural Irrigation Equipment
- Golf Courses & Sports Grounds
- Commercial Areas
- Residential Areas
Global Irrigation Equipment Market Assessment—by
Geography
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- North America
- Europe
- France
- Germany
- Italy
- U.K.
- Spain
- Rest of Europe
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East and Africa
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Agriculture Equipment Market by Type (Tractors, Harvesting
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South East Asia Agriculture Irrigation Equipment Market by Type
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Asia-Pacific Agriculture Irrigation Equipment Market by Type
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& Grains, Fruit and Vegetables}, Closed-field) - Forecast to
2030
Asia-Pacific Agriculture Equipment Market by Type (Tractors,
Harvesting Equipment, Irrigation Equipment), Mode of Operation
(Manual, Automatic), Power Source (Electric Equipment), Application
(Sowing, Planting, Harvesting, Irrigation) - Forecast to 2030
Irrigation Automation Market by System, Irrigation Type,
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Latin America Agriculture Equipment Market by Type (Tractors,
Harvesting Equipment, Irrigation Equipment), Mode of Operation
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(Sowing, Planting, Harvesting, Irrigation) - Forecast to 2030
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Harvesting Equipment, Irrigation Equipment, Livestock Equipment),
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Livestock), & Geography - Global Forecast to 2031
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