Wilmington, Delaware, United States, May 26, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Global Energy Management Market in Agriculture Industry was valued at US$ 174.1 Mn in 2021 and is expected to reach US$ 275.9 Mn by 2031, expanding at a CAGR of 4.7% between 2022 and 2031.
Global agriculture is going through a digital transition, becoming increasingly mechanized and smart. Hence, numerous farms now have higher electrical needs, which increases the requirement for excellent electric-to-power equipment. Robots as well as autonomous machinery are now deployed in the fields, where farmers used to have to cope with repetitive work.
Demand for electricity is anticipated to increase as automation and large machinery are used more frequently in agriculture. The quickest and most affordable method to lower farm energy expenditure is to implement energy efficiency measures. On-farm renewable energy generation systems are another option considered by farmers to supply the electricity needed to run their farming operations.
Smart meters and smart grids are two instances of smart energy management technologies that have gained popularity due to their ability to boost productivity, save money on energy, and gain a competitive edge. Electricity powers every industry, no matter how big or small; consequently, it is crucial to implement developing technologies, such as the Internet of Things (IoT), to streamline operations as well as save expenses.
End-user investment in energy management systems is expected to drive market development. In this way, companies are able to adhere to legislative requirements to lessen their carbon footprint. For tax advantages, technical assistance, and other financial advantages, firms in the renewable energy industry are actively pursuing collaborations with governments. As a result, the market size for energy management in the agriculture business has grown, and the field of renewable energy is expanding
To Remain Ahead of Your Competitors, Request for a Sample:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=84892
Market Scope:
| Market Revenue | USD 174.1 Mn | |
| Estimated Value | USD 275.9 Bn | |
| Growth Rate - CAGR | 4.7% | |
| Forecast Period | 2022 - 2031 | |
| No. of Pages | 162 Pages | |
| Market Segmentation | By Source, Application, Component | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
Global Energy Management Market in Agriculture Industry: Growth Drivers
- Energy efficiency is a crucial component of sustainable energy management for the reduction of energy consumption and redistribution for economic expansion. Energy production is crucial for the food and agricultural industries, which account for over 30% of global energy consumption. Consequently, improving agricultural energy efficiency is projected to contribute to overall reduction in energy consumption. Investment in energy efficiency is increasing, which is expected to drive the global energy management market in agriculture industry during the forecast period.
- In a number of countries, notably India, solar irrigation has assisted in raising the earnings of farmers by 50%. There are several advantages to utilizing renewable energy sources in agriculture, but solar irrigation is the most established as large number of farmers are using it. Increase in the uptake of solar irrigation is anticipated to drive the global energy management market in agriculture industry.
Share Your Precise Requirements for Customized Sample:
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=84892
Key Findings of Market Report
- Based on source, the conventional energy segment accounted for significant share of 80.7% of the global industry in 2021. The trend is projected to continue from 2022 to 2031. Conventional energy sources are widely employed in several different industries. Cost effectiveness and ease of supply drive market demand for conventional energy across various industries.
Global Energy Management Market in Agriculture Industry: Regional Landscape
- North America held major share of 29.4% of the global market in 2021. The energy management market in agriculture industry in the region is likely to expand at a rapid pace from 2022 to 2031. The U.S. dominated the industry in North America owing to greater acceptance and increase in investment in modern & innovative agricultural technology.
Global Energy Management Market in Agriculture Industry: Key Players
- GDS Associates, Inc. Engineers and Consultants
- Integrated Technology Australia
- Navy Blue Energy
- Logics PowerAMR Pvt. Ltd.
- Enfragy Solution India Private Limited
Browse the Full Report with Facts and Figures of the Energy Management Market in Agriculture Industry:
https://www.transparencymarketresearch.com/checkout.php?rep_id=84892<ype=S
Global Energy Management Market in Agriculture Industry: Segmentation
Source
- Biomass Fuel
- Conventional Energy
- Renewable Energy
Application
- Indore Agriculture
- Outdoor Agriculture
Component
- Hardware
- Software
- Control System
- Energy Storage System
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
