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Redding, California - April 5, 2024

Irrigation Equipment Market to Reach $15.75 Billion by 2031

Irrigation Equipment Market by Component (Tubing, Sprinklers, Emitter, Drippers, Pumping, Filters, Connectors, Sensors, Regulators), Irrigation Type (Drip, Sprinkler, Pivot Irrigation), Application (Agricultural, Non-agricultural) - Global Forecast to 2031

Meticulous Research^®—leading global market research company, published a research report titled ‘Irrigation Equipment Market by Component (Tubing, Sprinklers, Emitter, Drippers, Pumping, Filters, Connectors, Sensors, Regulators), Irrigation Type (Drip, Sprinkler, Pivot Irrigation), Application (Agricultural, Non-agricultural) - Global Forecast to 2031’.

According to this latest publication from Meticulous Research^®, the irrigation equipment market is projected to reach $15.75 billion by 2031, at a CAGR of 9.3% from 2024 to 2031. Increasing water scarcity, government initiatives for water conservation, and the growing need to mechanize agricultural operations are some of the factors driving the growth of this market. However, the high costs of implementing and maintaining advanced agricultural irrigation equipment inhibit the growth of this market to some extent.

Furthermore, technological advancements in irrigation equipment and increasing automation in irrigation systems are expected to generate growth opportunities for the stakeholders in this market. However, the lack of awareness regarding advanced irrigation technologies is a major challenge impacting the market’s growth.

Additionally, the increasing adoption of precision farming techniques and the emergence of Irrigation as a Service (IaaS) are major trends in the irrigation equipment market.

Key Players

The irrigation equipment market is moderately competitive due to the presence of many large and small-sized global, regional, and local players. The key players operating in the irrigation equipment market are The Toro Company (U.S.), Jain Irrigation Systems Limited (India), Netafim Ltd. (Israel), Valmont Industries, Inc. (U.S.), Lindsay Corporation (U.S.), Hunter Industries Inc (U.S.), Rain Bird Corporation (U.S.), T-L Irrigation Company (U.S.), Reinke Manufacturing Co., Inc. (U.S.), Rivulis Irrigation Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Irritec S.p.A (Italy), Chinadrip Irrigation Equipment (Xiamen) Co., Ltd. (China), and Galcon Bakarim Agricultural Cooperative Society Ltd. (Israel).

The global irrigation equipment market is segmented by component (tubing, sprinklers, emitter/drippers, pumping, irrigation valves, filters, connectors, irrigation controllers, sensors, monitoring & controlling devices, pressure regulators, and other components), type (drip irrigation, sprinkler irrigation, pivot irrigation, and other irrigation types), application (agricultural irrigation equipment {open-field agriculture [cereals & grains, fruits & vegetables, oilseeds & pulses, other crops], closed-field agriculture}, non-agricultural irrigation equipment {golf courses & sports grounds, commercial areas, and residential areas}), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on component, the irrigation equipment market is segmented into tubing, emitter/drippers, irrigation valves, filters, sprinklers, irrigation controllers, sensors, pumping, connectors, pressure regulators, monitoring & controlling devices, and other components. The tubing segment is expected to account for the largest share of the global irrigation equipment market in 2024, mainly due to the escalating uptake of drip and sprinkler irrigation techniques, favorable government initiatives, continuous innovation in tubing technology, and the lack of viable substitutes for tubing in irrigation systems.

Based on irrigation type, the irrigation equipment market is mainly segmented into drip irrigation, sprinkler irrigation, pivot irrigation, and other irrigation types. The drip irrigation segment is expected to account for the largest share of the global irrigation equipment market in 2024, owing to the technological advances in drip irrigation systems, rising adoption of advanced agricultural practices, and increasing product launches by key market players.

Based on application, the global irrigation equipment market is primarily segmented into agricultural irrigation equipment and non-agricultural irrigation equipment. The agricultural irrigation equipment segment is expected to account for the larger share of the global irrigation equipment market in 2024 mainly due to the growing land area under crop cultivation, the expanding adoption of advanced irrigation techniques in farming, growing water scarcity in the agriculture sector, and the presence of a large number of agricultural irrigation equipment suppliers. Moreover, advancements in agricultural technologies and increasing government initiatives promoting sustainable agricultural practices are further expected to support the growth of this segment during the forecast period of 2024–2031.

Geographic Review

This research report analyzes major geographies and provides comprehensive analyses for North America (U.S. and Canada), Europe (Germany, France, Italy, U.K., Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the irrigation equipment market due to the rising inclination towards mechanization and precision irrigation, government initiatives aimed at conserving water, increasing water scarcity, and the rising per capita incomes of farmers in the region. Furthermore, the availability of loans and subsidies for purchasing irrigation equipment drives the growth of this regional market.

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Key Questions Answered in the Report:

What is the revenue generated by the irrigation equipment market?
At what rate is the global demand for irrigation equipment projected to grow over the next 5-7 years?
What was the historical market size, and what is the growth rate for the irrigation equipment market?
What are the major factors impacting the growth of this market at the global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which component, irrigation type, and application segments are creating major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the irrigation equipment market?
Who are the major players in the irrigation equipment market? What are their specific product offerings in this market?
What are the recent key developments in the irrigation equipment market? What impact have these strategic developments had on the market?

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Redding, California - April 5, 2024

Irrigation Equipment Market to Reach $15.75 Billion by 2031

Irrigation Equipment Market by Component (Tubing, Sprinklers, Emitter, Drippers, Pumping, Filters, Connectors, Sensors, Regulators), Irrigation Type (Drip, Sprinkler, Pivot Irrigation), Application (Agricultural, Non-agricultural) - Global Forecast to 2031

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