Precision Irrigation Market Future Demand, Business Strategies, Industry Growth, Regional Outlook, Challenges and Forecast by 2027
The global Precision Irrigation Market will be worth USD 20.99 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing global population and the growing demand for agricultural production. Rising government initiatives such as subsidies and low-interest loans to increase the adoption of modern irrigation systems are expected to drive the demand for the system over the forecast period.
The rising growth of greenhouse vegetable production is expected to drive the growth of the market over the forecast period. The scarcity of water in several countries is hampering the production of greenhouse vegetation, which is the main reason behind the increasing adoption of precision irrigation by farmers. Utilization of precision irrigation results in the minimization of fertilizers uses and enhance crop productivity. Farmers are increasingly adopting drip and sprinkler irrigation in order to increase the productivity of greenhouse vegetation.
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The latest market intelligence report, titled ‘Global Precision Irrigation Market’, is intended to provide the target audience with the necessary information about the global Precision Irrigation industry. The report comprises a detailed analysis of the vital elements of the Precision Irrigation market, including key drivers, constraints, opportunities, limitations, threats, and micro-and macro-economic factors. The report carefully investigates the present market scenario and the fundamental growth prospects. The report entails an organized database of the Precision Irrigation market dynamics that helps market analysts estimate the global market growth rate over the projected timeline.
Key Highlights of Report
In February 2019, Israel based irrigation solutions supplier Rivulis opened a manufacturing plant in Guanajuato, Central Mexico. The company announced that it is expanding its global footprint with the establishment of the new manufacturing plant. The new plant is set to become the largest manufacturing site for drip irrigation in the Americas.
The drip irrigation segment held the largest market share of 48.8% in 2019 as it helps in the conservation of water and prevents the nutrient loss of the plants.
The agricultural segment is forecasted to grow with the fastest CAGR of 13.2% over the forecast period as the open fields and greenhouses increasingly adopt the precision irrigation system in order to increase crop productivity.
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Competitive Outlook:
The global Precision Irrigation market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Precision Irrigation market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Key players include The Toro Company, Rain Bird Corporation, Netafim Ltd., Jain Irrigation Systems Ltd., Lindsay Corporation, Rivulis Irrigation Ltd., Valmont Industries Inc., Elgo Irrigation Ltd., Chinadrip Irrigation Equipment Co. Ltd., and Nelson Irrigation Corporation, among others.
Emergen Research has segmented the global Precision Irrigation Market on the basis of Type, Application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Sprinkler Irrigation
Drip Irrigation
Others
Application Outlook (Revenue, USD Billion; 2017-2027)
Agricultural (open field, greenhouses)
Non-Agricultural (Golf Courses, Residential, sports ground, Turf & Landscapes, Forestry)
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Regional Analysis:
This section of the report offers valuable insights into the geographical segmentation of the Precision Irrigation market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global Precision Irrigation market into various regions, including:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
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Global Precision Irrigation Market Report – Table of Contents:
Chapter 1 includes the global Precision Irrigation market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.
Chapter 2 broadly categorizes the Precision Irrigation market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.
Chapter 3 elaborates on the competitive outlook of the Precision Irrigation market, focusing on the major manufacturers and vendor landscape.
Chapter 4 exhaustively studies the key manufacturers of the Precision Irrigation industry, along with their anticipated sales and revenue shares.
Chapters 5 includes market segmentation based on product type, application range, and market players.
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