Redding, California, Nov. 15, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Irrigation Equipment Market by Type (Drip Irrigation, Sprinkler Irrigation, Pivot Irrigation), Product (Drip Emitter/Drippers, Tubing, Irrigation Valve, Filters, Sprinklers, Controllers), Application (Agricultural, Non-agricultural) - Forecast to 2029,’ the global irrigation equipment market is slated to register a CAGR of 9.7% during the forecast period to reach $10.01 billion by 2029.
Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5378
The growth of the irrigation equipment market is driven by factors such as progressive government initiatives promoting water conservation, rising demand for irrigation equipment in lawns and gardens, and the growing adoption of modern agriculture techniques. However, the high cost of installation and declining farm income are expected to restrain the growth of this market to some extent.
The Impact of COVID-19 on the Irrigation Equipment Market
The COVID-19 pandemic affected several industries and economies. Several countries imposed strict lockdowns to contain the infection, leading to the shutdown of agricultural activities and disruption of agricultural equipment supply. There has been a significant impact on the agricultural supply chain due to a shortage of equipment coupled with multiple bottlenecks, such as delays in last-mile delivery, low investments, logistic constraints, and labor shortages. In 2020, the irrigation equipment market witnessed a significant decline in revenue worldwide. However, the market witnessed moderate positive growth in 2021.
Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5378
Farmers in advanced countries have started adopting advanced equipment for farms. Limited staff availability in the field has also led to automated irrigation equipment. The adoption of irrigation equipment by large commercial farms during the COVID-19 pandemic has resulted in huge demand for automated equipment to a large extent. Due to such developments, the market for irrigation equipment is estimated to grow significantly during the forecast period.
The irrigation equipment market is segmented by type (drip irrigation, sprinkler irrigation, pivot irrigation, furrow irrigation systems, and terraced irrigation), product (drip emitter/drippers, tubing, irrigation valve, filters, sprinklers, controllers, and others), application (agricultural {open-field agriculture [cereals & grains, oilseeds & pulses, fruits & vegetables, other crops], closed-field agriculture} and non-agricultural {golf and sports ground, residential, commercial, other non-agricultural applications), and geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on type, in 2022, the drip irrigation segment is expected to account for the largest share of the global irrigation equipment market. The large market share of this segment is attributed to its rising innovation & automation in drip irrigation systems, adoption of new agriculture technologies, and low cost and water consumption ability. However, the sprinkler irrigation segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to its capability to eliminate water conveyance channels, increase production yield, and reduce soil compaction.
Quick Buy – Irrigation Equipment Market- Global Opportunity Analysis And Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/69927464
Based on product, in 2022, the tubing segment is expected to account for the largest share of the global irrigation equipment market. The large market share of this segment is attributed to its easy installation and low cost. Moreover, the increasing adoption of drip tapes and lines with recycled materials is expected to drive the demand for this segment.
Based on application, the non-agricultural segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to factors such as the growing demand for improved sports grounds, rising use of irrigation systems for indoor and outdoor landscapes, increasing implementation of irrigation systems by commercial property management companies, educational institutes, and public sector buildings and public offices management companies to keep a check on water consumption.
Based on geography, in 2022, North America is expected to account for the largest share of the irrigation equipment market. The large market share of this region is attributed to the high presence of key irrigation equipment manufacturers, well-established economies, and increased investment in research & development of irrigation equipment. Moreover, the availability of loans and subsidies propels the demand for irrigation equipment in the region. However, Asia-Pacific is slated to register the highest CAGR during the forecast period.
A moderately competitive scenario characterizes the global irrigation equipment market due to many large and small-sized global, regional, and local players. The key players operating in the global irrigation equipment market are Netafim Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Jain Irrigation Systems Ltd. (India), T-L Irrigation Company (U.S.), Valmont Industries, Inc. (U.S.), Lindsay Corporation (U.S.), Rivulis Irrigation Ltd. (Israel), The Toro Company (U.S.), Rain Bird Corporation (U.S.), and Galcon (Israel).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/irrigation-equipment-market-5378
Scope of the Report:
Irrigation Equipment Market, by Type
- Drip Irrigation
- Sprinkler Irrigation
- Pivot Irrigation
- Furrow Irrigation Systems
- Terraced Irrigation
Irrigation Equipment Market, by Product
- Drip Emitter/Drippers
- Tubing
- Irrigation Valve
- Filters
- Sprinklers
- Controllers
- Other Products
Irrigation Equipment Market, by Application
- Agricultural
-
- Open-field Agriculture
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Other Crops
- Closed-field Agriculture
- Open-field Agriculture
-
- Non-agricultural
-
- Golf and Sports Ground
- Residential
- Commercial
- Other Non-agricultural Applications
-
Irrigation Equipment Market, by Geography
- North America
-
- U.S
- Canada
-
- Europe
-
- Germany
- France
- U.K
- Italy
- Spain
- Rest of Europe
-
- Asia-Pacific
-
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
-
- Latin America
- Middle East & Africa
Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5378
Related Reports:
Irrigation Controllers Market by Type (Smart Irrigation Controller, Tap Timer, Basic Controllers), Irrigation Type (Sprinkler Irrigation, Drip Irrigation), and Application (Non-Agricultural and Agriculture) - Global Forecast to 2028
https://www.meticulousresearch.com/product/irrigation-controllers-market-4166
Micro Irrigation Systems Market by type (Sprinkler, Drip), Component (Drippers, Polyethylene Tubing, Irrigation Valve, Filters), Crop Type (Plantation Crops, Orchard Crops, Field Crops), Application (Farmers, Government), and Geography- Global Forecast to 2025
https://www.meticulousresearch.com/product/micro-irrigation-systems-market-4970
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/605/irrigation-equipment-market-2029
