PUBLISHER: The Business Research Company | PRODUCT CODE: 1526996
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526996
Irrigation equipment comprises the tools and systems used to supply water to agricultural crops, landscapes, and gardens to promote growth and maintain soil moisture. This includes a variety of devices that ensure efficient and controlled water distribution, helping to manage and optimize water usage for agricultural, landscaping, and gardening purposes.
The main components of irrigation equipment include tubing, sprinklers, emitters or drippers, pumps, irrigation valves, filters, connectors, irrigation controllers, sensors, and more. Tubing refers to a system of hollow cylindrical structures used for conveying fluids or gases. The types of irrigation include drip irrigation, sprinkler irrigation, pivot irrigation, and others, with applications in agriculture, landscaping, golf courses, and more.
The irrigation equipment research report is one of a series of new reports from The Business Research Company that provides irrigation equipment market statistics, including the irrigation equipment industry's global market size, regional shares, competitors with a irrigation equipment market share, detailed irrigation equipment market segments, market trends and opportunities, and any further data you may need to thrive in the irrigation equipment industry. This irrigation equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The irrigation equipment market size has grown strongly in recent years. It will grow from $6.69 billion in 2023 to $7.31 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth during the historical period can be attributed to several factors, the increased global population, rising concerns over water scarcity, supportive government policies and subsidies, changes in climate patterns, the expansion of urban areas, and growing awareness about sustainable farming practices.
The irrigation equipment market size is expected to see strong growth in the next few years. It will grow to $10.47 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to the increasing demand for efficient water management solutions, the need for higher crop yields, unpredictable weather conditions, the rising demand for irrigation systems, and a shift towards eco-friendly irrigation products. Major trends in the forecast period include the increasing adoption of IoT and AI in irrigation systems, the development of fully automated irrigation systems and robotic solutions, the growing use of solar energy to power irrigation systems, advances in precision irrigation techniques, and the integration of wireless sensor networks for real-time monitoring.
The growing issue of water scarcity is expected to drive the irrigation equipment market's growth. Water scarcity, defined as the shortage of adequate freshwater resources to meet regional demands, is exacerbated by factors such as population growth, urbanization, climate change, unsustainable water practices, pollution, and inadequate water management infrastructure. Irrigation equipment helps address water scarcity by optimizing water distribution for efficient and sustainable crop and plant growth. For instance, Water Resources East, a UK-based non-profit, estimated in December 2023 that by 2050, Eastern England will face a scarcity of 800 million liters of water per day, one-third of the region's current water use. Consequently, the increasing water scarcity is boosting the irrigation equipment market.
Leading companies in the irrigation equipment market are developing innovative technologies, such as anti-clogging technology, to gain a competitive advantage. Anti-clogging technology includes mechanisms or materials designed to prevent blockages, enhancing system efficiency and performance. For example, in October 2023, Netafim India, a provider of irrigation solutions, launched Toofan, a drip irrigation technology featuring TurbuNext technology. This system includes a dripper labyrinth that prevents clogging and ensures consistent water flow by removing debris from the dripper, optimizing water and nutrient delivery and providing exceptional durability and resistance to clogging.
In April 2023, Rivulis, an Indian manufacturer of micro and drip irrigation systems, acquired Jain Irrigation's International Irrigation Business for an undisclosed amount. This acquisition positions Rivulis to lead the global adoption of modern irrigation solutions and digital farming, creating a global leader in irrigation and climate solutions. Jain Irrigation specializes in drip and smart precision irrigation technology for agriculture and farm irrigation systems.
Major companies operating in the irrigation equipment market are Robert Bosch GmbH, Hitachi Ltd, Stanley Black & Decker Inc., Makita Corporation, The Toro Company, Valmont Industries Inc., Netafim Ltd., Fiskars Corporation, Rain Bird Corporation, SD WORX SA, Lindsay Corporation, Jain Irrigation Systems Limited, Ariens Company, STIHL Incorporated, Hunter Industries Incorporated, Rivulis Irrigation Ltd., Honda India Power Products Limited, Reinke Manufacturing Company Inc., T-L Irrigation Company, Nelson Irrigation Corporation, Irritec S.p.A., Victa BV, Chinadrip Irrigation Equipment Co. Ltd.
North America was the largest region in the irrigation equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the irrigation equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the irrigation equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The irrigation equipment market consists of sales of spray heads, drip irrigation kits, hoses, pipes, valves, pumps, controllers, and filters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Irrigation Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on irrigation equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for irrigation equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The irrigation equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.