PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209836
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209836
Precision Irrigation Market Forecasts to 2028 - Global Analysis By Type, Crop Type, Application and By Geography
According to Stratistics MRC, the Global Precision Irrigation Market is accounted for $4.56 billion in 2022 and is expected to reach $8.43 billion by 2028 growing at a CAGR of 10.7% during the forecast period. Precision Irrigation is gaining remarkable popularity among farmers due to the growing need for most favourable crop production with limited available resources. This Irrigation is one of the inventive techniques that uses water wisely and helps farmers achieve higher crop yield levels in a minimal amount of water. This farming can transform the agricultural sector, making the traditional farming activity more efficient and predictable.
According to the Food and Agriculture Organization (FAO), about 70% of the cultivated land was used to grow cereals, as most cereals are water-intensive crops, such as rice and maize. According to the Association of Belgian Horticultural Auctions, the greenhouse vegetable production in the country stood at 426.1 thousand metric ton of which tomato production was 311.5 thousand metric ton.
Market Dynamics:
Driver:
Expansion of greenhouse vegetable production
Automatic drip irrigation is necessary for controlling soil moisture, particularly in the case of specialized greenhouse vegetables. Entire automation of drip irrigation systems provides an easy, careful method for controlling soil moisture and applying water. Additionally, these systems are expected to augment profits generated per yield. As greenhouse vegetables require plenty amounts of water, farmers are switching to both sprinkler and drip irrigation systems to achieve higher crop productivity. Thus, raising the production of greenhouse vegetables is expected to augment the growth of the market.
Restraint:
High Initial Capital Investments
In precision irrigation systems, drip and sprinkler irrigation systems are technically complicated. High installation costs of these irrigation systems are impacting their adoption. In developing economies, small-scale farmers are unwilling to practice irrigation systems due to higher initial investment. These costs impact the farm budget on several levels. Although the initial investment is high, it also yields better yields and reduces dependency on rains over the long term. The high fixed cost required to install many new systems can prove to be a restraint for the market.
Opportunity:
Water Scarcity
The precision irrigation systems market is mainly driven by factors like the need to enlarge crop productivity while addressing water scarcity issues. Governments in various regions are focusing on formulating programmes to enlarge the usage, while limiting water shortage. With water increasingly becoming a scarce commodity, farmers have been seeking novel ideas to grow more crops with the same quantity of water. The consolidation of farmlands in various parts of the world makes it possible for farmers to invest in expensive irrigation systems such as precision irrigation systems, which is driving the market.
Threat:
Lack of awareness
Deploying and using the technologies, interpreting the captured data require high level of awareness and skills. Precision farming is dependent on technologies like GPS, drones, and sensors. Moreover, proximate sensors are generally organized on farm machinery. Thus precision farming is more conducive with mechanized farming. Hence, these lack of technical expertise knowledge and technology is estimated to hinder the growth of the market.
COVID-19 Impact
The impact of the COVID-19 pandemic was felt on various businesses including the precision irrigation systems market. On the demand side, precision irrigation systems have witnessed slight or no change in demand from buyers due to pandemics. The expanding need to maintain food supply stability across the world that could be affected by lockdowns along with requirements of higher efficiency and better yield has resulted in continuous demand for precision irrigation machinery. The movement restriction and lockdowns have resulted in disruptions in the supply chain and led to a shortage of equipment. However, remote sensing and farm management software tools could lead to higher adoption during the post-COVID-19 period.
The drip irrigation segment is expected to be the largest during the forecast period
The drip irrigation segment is estimated to have a lucrative growth, due to the ability to control the soil moisture, especially in the production of greenhouse vegetables. Drip irrigation helps in water conservation as the irrigation systems can easily be controlled remotely through the utilization of the Internet of Things (IoT) devices. This irrigation prevents the nutrient loss the plants and thus protects the high investments that the farmers make in plant nutrition products. This irrigation also reduces weed prevalence & soil erosion and minimizes the depletion of groundwater, while drives the demand of the segment.
The agricultural field segment is expected to have the highest CAGR during the forecast period
The agricultural field segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the growing demand of precision irrigation. Agricultural applications like open fields and greenhouses are increasingly adopting precision irrigation systems in order to enhance farm productivity and increase crop yield. Furthermore, the growing government initiatives regarding water conservations and the adoption of modern irrigation systems are expected to drive the growth of the segment.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing modernization. Agricultural irrigation and drainage systems still depend mainly on the labour input of rural areas. The augment in the area will lead to higher demand for irrigation, surging the use of precision irrigation systems. Therefore, it is anticipated that the growing emphasis on farm mechanization and the government's desire to irrigate more land will increase sales of precision irrigation systems and fuel market growth in the region over the forecast period.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to water development programs at the federal, state and local levels and improvements in groundwater pumping technologies. Farmers in the country have been able to avail timely subsidies in the form of agriculture equipment loans at flexible interest rates and repayment schedules. This has helped even the small-scale farmers to invest in agricultural irrigation equipment, thereby expanding the precision irrigation systems market.
Key players in the market
Some of the key players profiled in the Precision Irrigation Market include Aquaspy, Chinadrip Irrigation Equipment Co.Ltd., Crop Metrics, Deere & Company, Elgo Irrigation Ltd., EPC Industry, Grodan, Hortau, Hunter Industries, Jain Irrigation Systems Ltd, Lindsay Corporation, Mahindra EPC Industries Limited, Nelson Irrigation Corporation, Netafim Ltd, Rain Bird Corporation, Rivulis Irrigation Ltd, The Toro Company, T-l Irrigation Co., Valmont Industries Inc. and Trimble Inc.
Key Developments:
In July 2021, Deere & Company launched JDLINK an information management product. The product provides connectivity services at no additional cost. They help customers to connect their machines.
In July 2020, Lindsay Corporation acquired an agriculture Internet of Things technology company, Net Irrigate, LLC. The acquisition is aimed to increase water and energy efficiency and incorporate more sustainable farming practices.
Types Covered:
- Sprinkler Irrigation
- Drip Irrigation
- Other Types
Crop Types Covered:
- Vegetable corps
- Field Crops
- Turf And Ornamentals
- Orchard and Vineyards
- Other Crop Types
Applications Covered:
- Agricultural Fields
- Landscape and Turf Irrigation
- Residential
- Greenhouse
- Others Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Precision Irrigation Market, By Type
- 5.1 Introduction
- 5.2 Sprinkler Irrigation
- 5.3 Drip Irrigation
- 5.4 Other Types
6 Global Precision Irrigation Market, By Crop Type
- 6.1 Introduction
- 6.2 Vegetable corps
- 6.3 Field Crops
- 6.4 Turf And Ornamentals
- 6.5 Orchard and Vineyards
- 6.6 Other Crop Types
7 Global Precision Irrigation Market, By Application
- 7.1 Introduction
- 7.2 Agricultural Fields
- 7.3 Landscape and Turf Irrigation
- 7.4 Residential
- 7.5 Greenhouse
- 7.6 Others Applications
8 Global Precision Irrigation Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Aquaspy
- 10.2 Chinadrip Irrigation Equipment Co.Ltd.
- 10.3 Crop Metrics
- 10.4 Deere & Company
- 10.5 Elgo Irrigation Ltd.
- 10.6 EPC Industry
- 10.7 Grodan
- 10.8 Hortau
- 10.9 Hunter Industries
- 10.10 Jain Irrigation Systems Ltd
- 10.11 Lindsay Corporation
- 10.12 Mahindra EPC Industries Limited
- 10.13 Nelson Irrigation Corporation
- 10.14 Netafim Ltd
- 10.15 Rain Bird Corporation
- 10.16 Rivulis Irrigation Ltd
- 10.17 The Toro Company
- 10.18 T-l Irrigation Co.
- 10.19 Valmont Industries Inc.
- 10.20 Trimble Inc.
List of Tables
- Table 1 Global Precision Irrigation Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Precision Irrigation Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Precision Irrigation Market Outlook, By Sprinkler Irrigation (2020-2028) ($MN)
- Table 4 Global Precision Irrigation Market Outlook, By Drip Irrigation (2020-2028) ($MN)
- Table 5 Global Precision Irrigation Market Outlook, By Other Types (2020-2028) ($MN)
- Table 6 Global Precision Irrigation Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 7 Global Precision Irrigation Market Outlook, By Vegetable corps (2020-2028) ($MN)
- Table 8 Global Precision Irrigation Market Outlook, By Field Crops (2020-2028) ($MN)
- Table 9 Global Precision Irrigation Market Outlook, By Turf And Ornamentals (2020-2028) ($MN)
- Table 10 Global Precision Irrigation Market Outlook, By Orchard and Vineyards (2020-2028) ($MN)
- Table 11 Global Precision Irrigation Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 12 Global Precision Irrigation Market Outlook, By Application (2020-2028) ($MN)
- Table 13 Global Precision Irrigation Market Outlook, By Agricultural Fields (2020-2028) ($MN)
- Table 14 Global Precision Irrigation Market Outlook, By Landscape and Turf Irrigation (2020-2028) ($MN)
- Table 15 Global Precision Irrigation Market Outlook, By Residential (2020-2028) ($MN)
- Table 16 Global Precision Irrigation Market Outlook, By Greenhouse (2020-2028) ($MN)
- Table 17 Global Precision Irrigation Market Outlook, By Others Applications (2020-2028) ($MN)
- Table 18 North America Precision Irrigation Market Outlook, By Country (2020-2028) ($MN)
- Table 19 North America Precision Irrigation Market Outlook, By Type (2020-2028) ($MN)
- Table 20 North America Precision Irrigation Market Outlook, By Sprinkler Irrigation (2020-2028) ($MN)
- Table 21 North America Precision Irrigation Market Outlook, By Drip Irrigation (2020-2028) ($MN)
- Table 22 North America Precision Irrigation Market Outlook, By Other Types (2020-2028) ($MN)
- Table 23 North America Precision Irrigation Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 24 North America Precision Irrigation Market Outlook, By Vegetable corps (2020-2028) ($MN)
- Table 25 North America Precision Irrigation Market Outlook, By Field Crops (2020-2028) ($MN)
- Table 26 North America Precision Irrigation Market Outlook, By Turf And Ornamentals (2020-2028) ($MN)
- Table 27 North America Precision Irrigation Market Outlook, By Orchard and Vineyards (2020-2028) ($MN)
- Table 28 North America Precision Irrigation Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 29 North America Precision Irrigation Market Outlook, By Application (2020-2028) ($MN)
- Table 30 North America Precision Irrigation Market Outlook, By Agricultural Fields (2020-2028) ($MN)
- Table 31 North America Precision Irrigation Market Outlook, By Landscape and Turf Irrigation (2020-2028) ($MN)
- Table 32 North America Precision Irrigation Market Outlook, By Residential (2020-2028) ($MN)
- Table 33 North America Precision Irrigation Market Outlook, By Greenhouse (2020-2028) ($MN)
- Table 34 North America Precision Irrigation Market Outlook, By Others Applications (2020-2028) ($MN)
- Table 35 Europe Precision Irrigation Market Outlook, By Country (2020-2028) ($MN)
- Table 36 Europe Precision Irrigation Market Outlook, By Type (2020-2028) ($MN)
- Table 37 Europe Precision Irrigation Market Outlook, By Sprinkler Irrigation (2020-2028) ($MN)
- Table 38 Europe Precision Irrigation Market Outlook, By Drip Irrigation (2020-2028) ($MN)
- Table 39 Europe Precision Irrigation Market Outlook, By Other Types (2020-2028) ($MN)
- Table 40 Europe Precision Irrigation Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 41 Europe Precision Irrigation Market Outlook, By Vegetable corps (2020-2028) ($MN)
- Table 42 Europe Precision Irrigation Market Outlook, By Field Crops (2020-2028) ($MN)
- Table 43 Europe Precision Irrigation Market Outlook, By Turf And Ornamentals (2020-2028) ($MN)
- Table 44 Europe Precision Irrigation Market Outlook, By Orchard and Vineyards (2020-2028) ($MN)
- Table 45 Europe Precision Irrigation Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 46 Europe Precision Irrigation Market Outlook, By Application (2020-2028) ($MN)
- Table 47 Europe Precision Irrigation Market Outlook, By Agricultural Fields (2020-2028) ($MN)
- Table 48 Europe Precision Irrigation Market Outlook, By Landscape and Turf Irrigation (2020-2028) ($MN)
- Table 49 Europe Precision Irrigation Market Outlook, By Residential (2020-2028) ($MN)
- Table 50 Europe Precision Irrigation Market Outlook, By Greenhouse (2020-2028) ($MN)
- Table 51 Europe Precision Irrigation Market Outlook, By Others Applications (2020-2028) ($MN)
- Table 52 Asia Pacific Precision Irrigation Market Outlook, By Country (2020-2028) ($MN)
- Table 53 Asia Pacific Precision Irrigation Market Outlook, By Type (2020-2028) ($MN)
- Table 54 Asia Pacific Precision Irrigation Market Outlook, By Sprinkler Irrigation (2020-2028) ($MN)
- Table 55 Asia Pacific Precision Irrigation Market Outlook, By Drip Irrigation (2020-2028) ($MN)
- Table 56 Asia Pacific Precision Irrigation Market Outlook, By Other Types (2020-2028) ($MN)
- Table 57 Asia Pacific Precision Irrigation Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 58 Asia Pacific Precision Irrigation Market Outlook, By Vegetable corps (2020-2028) ($MN)
- Table 59 Asia Pacific Precision Irrigation Market Outlook, By Field Crops (2020-2028) ($MN)
- Table 60 Asia Pacific Precision Irrigation Market Outlook, By Turf And Ornamentals (2020-2028) ($MN)
- Table 61 Asia Pacific Precision Irrigation Market Outlook, By Orchard and Vineyards (2020-2028) ($MN)
- Table 62 Asia Pacific Precision Irrigation Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 63 Asia Pacific Precision Irrigation Market Outlook, By Application (2020-2028) ($MN)
- Table 64 Asia Pacific Precision Irrigation Market Outlook, By Agricultural Fields (2020-2028) ($MN)
- Table 65 Asia Pacific Precision Irrigation Market Outlook, By Landscape and Turf Irrigation (2020-2028) ($MN)
- Table 66 Asia Pacific Precision Irrigation Market Outlook, By Residential (2020-2028) ($MN)
- Table 67 Asia Pacific Precision Irrigation Market Outlook, By Greenhouse (2020-2028) ($MN)
- Table 68 Asia Pacific Precision Irrigation Market Outlook, By Others Applications (2020-2028) ($MN)
- Table 69 South America Precision Irrigation Market Outlook, By Country (2020-2028) ($MN)
- Table 70 South America Precision Irrigation Market Outlook, By Type (2020-2028) ($MN)
- Table 71 South America Precision Irrigation Market Outlook, By Sprinkler Irrigation (2020-2028) ($MN)
- Table 72 South America Precision Irrigation Market Outlook, By Drip Irrigation (2020-2028) ($MN)
- Table 73 South America Precision Irrigation Market Outlook, By Other Types (2020-2028) ($MN)
- Table 74 South America Precision Irrigation Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 75 South America Precision Irrigation Market Outlook, By Vegetable corps (2020-2028) ($MN)
- Table 76 South America Precision Irrigation Market Outlook, By Field Crops (2020-2028) ($MN)
- Table 77 South America Precision Irrigation Market Outlook, By Turf And Ornamentals (2020-2028) ($MN)
- Table 78 South America Precision Irrigation Market Outlook, By Orchard and Vineyards (2020-2028) ($MN)
- Table 79 South America Precision Irrigation Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 80 South America Precision Irrigation Market Outlook, By Application (2020-2028) ($MN)
- Table 81 South America Precision Irrigation Market Outlook, By Agricultural Fields (2020-2028) ($MN)
- Table 82 South America Precision Irrigation Market Outlook, By Landscape and Turf Irrigation (2020-2028) ($MN)
- Table 83 South America Precision Irrigation Market Outlook, By Residential (2020-2028) ($MN)
- Table 84 South America Precision Irrigation Market Outlook, By Greenhouse (2020-2028) ($MN)
- Table 85 South America Precision Irrigation Market Outlook, By Others Applications (2020-2028) ($MN)
- Table 86 Middle East & Africa Precision Irrigation Market Outlook, By Country (2020-2028) ($MN)
- Table 87 Middle East & Africa Precision Irrigation Market Outlook, By Type (2020-2028) ($MN)
- Table 88 Middle East & Africa Precision Irrigation Market Outlook, By Sprinkler Irrigation (2020-2028) ($MN)
- Table 89 Middle East & Africa Precision Irrigation Market Outlook, By Drip Irrigation (2020-2028) ($MN)
- Table 90 Middle East & Africa Precision Irrigation Market Outlook, By Other Types (2020-2028) ($MN)
- Table 91 Middle East & Africa Precision Irrigation Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 92 Middle East & Africa Precision Irrigation Market Outlook, By Vegetable corps (2020-2028) ($MN)
- Table 93 Middle East & Africa Precision Irrigation Market Outlook, By Field Crops (2020-2028) ($MN)
- Table 94 Middle East & Africa Precision Irrigation Market Outlook, By Turf And Ornamentals (2020-2028) ($MN)
- Table 95 Middle East & Africa Precision Irrigation Market Outlook, By Orchard and Vineyards (2020-2028) ($MN)
- Table 96 Middle East & Africa Precision Irrigation Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 97 Middle East & Africa Precision Irrigation Market Outlook, By Application (2020-2028) ($MN)
- Table 98 Middle East & Africa Precision Irrigation Market Outlook, By Agricultural Fields (2020-2028) ($MN)
- Table 99 Middle East & Africa Precision Irrigation Market Outlook, By Landscape and Turf Irrigation (2020-2028) ($MN)
- Table 100 Middle East & Africa Precision Irrigation Market Outlook, By Residential (2020-2028) ($MN)
- Table 101 Middle East & Africa Precision Irrigation Market Outlook, By Greenhouse (2020-2028) ($MN)
- Table 102 Middle East & Africa Precision Irrigation Market Outlook, By Others Applications (2020-2028) ($MN)
