Press release
South East Asia Agriculture Irrigation Equipment Market Set to Reach $91.2 Million by 2030
Meticulous Research®, a prominent global market research company, has recently released a comprehensive research report titled, "South East Asia Agriculture Irrigation Equipment Market by Type (Drip, Sprinkler, Furrow, Pivot Irrigation), Component (Tubing, Emitter, Sprinklers, Filter), Application (Open-field {Cereals & Grains, Fruits and Vegetables}, Closed-field) - Forecast to 2030."
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In this latest publication, Meticulous Research® forecasts that the South East Asia agriculture irrigation equipment market is poised to reach $91.2 million by 2030, exhibiting a robust Compound Annual Growth Rate (CAGR) of 8.2% from 2023 to 2030. The report delves into various market dynamics, including the pressing issue of water scarcity in the region, the escalating adoption of modern irrigation technologies to enhance crop output, and the growing governmental initiatives promoting sustainable water use. However, challenges such as the high maintenance cost of irrigation equipment and initial costs associated with advanced agricultural irrigation equipment are identified as hindrances to market growth.
Opportunities and Challenges
While the report acknowledges obstacles, it also sheds light on potential growth opportunities stemming from technological advancements in irrigation equipment and the increasing automation of irrigation systems. Nevertheless, the low awareness of advanced agriculture irrigation technologies poses a significant challenge for industry players. The report also highlights a notable trend - the increasing adoption of precision farming techniques in the South East Asia agriculture irrigation equipment market.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/south-east-asia-agriculture-irrigation-equipment-market-5694
Key Players Steering the Industry
The South East Asia agriculture irrigation equipment market is characterized by a moderately competitive landscape, featuring both large- and small-sized global, regional, and local players. Key players making a significant impact in this market include Netafim Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Jain Irrigation Systems Limited (India), T-L Irrigation Company (U.S.), Valmont Industries, Inc. (U.S.), Rivulis Irrigation Ltd. (Israel), The Toro Company (U.S.), Rain Bird Corporation (U.S.), Galcon Bakarim Agricultural Cooperative Society Ltd. (Israel), and Chinadrip Irrigation Equipment (Xiamen) Co., Ltd. (China).
Insights into Market Dynamics
The report provides an in-depth historical analysis of market data, estimated current data for 2023, and forecasts for 2030. The market is meticulously segmented based on type, component, application, and country.
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Among the various segments, the report projects that the drip irrigation equipment segment will dominate the South East Asia agriculture irrigation equipment market in 2023. Factors contributing to the dominance of this segment include increasing awareness regarding micro irrigation systems, the easy availability of drip irrigation systems and spare parts, and growing adoption in row and horticultural crops.
Component-wise, tubing is expected to hold the largest market share in 2023, attributed to the increasing adoption of drip and sprinkler irrigation techniques where tubing plays a crucial role in delivering water directly to plant roots.
The application segment reveals that open-field agriculture is set to account for the larger share in 2023, driven by the extensive area under crop cultivation, rising demand for rice globally, and government initiatives aimed at reducing water wastage through conventional irrigation methods.
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Geographic Landscape
Indonesia is poised to account for the largest share in the South East Asia agriculture irrigation equipment market in 2023. This dominance is attributed to the significant crop cultivation area, increased adoption of irrigation systems, governmental initiatives for water conservation, and the integration of automation in irrigation systems.
For a detailed analysis and comprehensive insights, please refer to the complete "South East Asia Agriculture Irrigation Equipment Market by Meticulous Research® - Forecast to 2030" report.
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