Latin America Agriculture Irrigation Equipment Market to Reach $349.7 Million by 2030-t by Meticulous Research®

According to a new market research report titled 'Latin America Agriculture Irrigation Equipment Market by Type (Drip, Sprinkler, Pivot, Furrow Irrigation), Component (Tubing, Emitter, Sprinklers, Filters), Application (Open-field {Cereals & Grains, Fruit and Vegetables}, Closed-field)-Forecast to 2030,' published by Meticulous Research®, the Latin America agriculture irrigation equipment market is projected to reach $349.7 million by 2030, at a CAGR of 5.7% from 2023 to 2030.
The growth of this market is driven by the rising agricultural water scarcity in the region, the increasing government initiatives for sustainable water use, and the increasing need for mechanization of agricultural operations. However, the high initial costs of advanced agriculture irrigation equipment and high maintenance costs hamper the growth of this market to some extent.

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Moreover, the technological advancements in irrigation equipment and the rising automation of irrigation systems are expected to provide market growth opportunities for the stakeholders operating in this market. However, low awareness of advanced agriculture irrigation technologies is a major challenge for the players in this market. Additionally, the increasing adoption of precision farming techniques is a prominent trend in the Latin America agriculture irrigation equipment market.

Key Players:
The report includes an extensive assessment of the key growth strategies adopted by leading market players between 2020 and 2023. The agriculture irrigation equipment market has witnessed several product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the Latin America agriculture irrigation equipment market are Netafim Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Jain Irrigation Systems Limited (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 Bakarim Agricultural Cooperative Society Ltd. (Israel).

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The Latin America agriculture irrigation equipment market is segmented by type (drip irrigation, sprinkler irrigation, pivot irrigation, furrow irrigation systems, and terraced irrigation), by component (tubing, sprinklers head, emitter/drippers, irrigation valves, filters, irrigation controllers, and other components), by application (open-field agriculture {cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops}, and closed-field agriculture), and country (Brazil, Mexico, Argentina, and Rest of Latin America).
Key Findings in the Latin America Agriculture Irrigation Equipment Market Study:

Among all the types covered in this report, in 2023, the drip irrigation equipment segment is expected to account for the largest share of the Latin America agriculture irrigation equipment market due to factors such as increasing demand for drip irrigation systems, primarily in fields crops, rising government support and subsidies for drip irrigation to mitigate the impact of water scarcity, growing area under soybean and coffee cultivation, and rising demand for precision irrigation technologies in the region. Furthermore, the drip irrigation segment is expected to register the highest CAGR during the forecast period of 2023-2030. The growth of this segment is attributed to technological advancements in micro-irrigation systems, rising awareness about advanced irrigation technologies, and the growing need for efficient water management in the agriculture sector due to rising water scarcity.

Among all the components covered in this report, the tubing segment is expected to account for the largest share of the Latin America agriculture irrigation equipment market in 2023. The significant market share of this segment can be attributed to the increasing adoption of drip and sprinkler irrigation techniques, where tubing plays a crucial role as an essential component for delivering water directly to plant roots and a high number of players offering innovative products. Moreover, the tubing segment is projected to register the highest CAGR during the forecast period of 2023-2030. This growth is driven by innovations in tubing technology and the absence of viable substitutes for tubing in irrigation systems.

Among all the applications covered in this report, the open-field agriculture segment is expected to account for the larger share of the Latin America agriculture irrigation equipment market in 2023. The significant market share of this segment is attributed to the extensive land area dedicated to open-field agriculture, the rising demand for field crops, and the increasing government initiatives aimed at reducing water wastage through conventional irrigation methods to address water scarcity challenges in the region.
Based on country, the Latin America agriculture irrigation equipment market is segmented into Brazil, Mexico, Argentina, and the Rest of Latin America. In 2023, Brazil is expected to account for the largest share of the Latin America agriculture irrigation equipment market. Brazil's significant market share is attributed to growing demand for micro irrigation systems, rising government initiatives for water conservation, extensive agricultural land area with high coffee production, growing water scarcity concerns, and the rising adoption of automated irrigation systems.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/latin-america-agriculture-irrigation-equipment-market-5657

Scope of the Report:
Latin America Agriculture Irrigation Equipment Market Assessment-by Type
• Drip Irrigation
• Sprinkler Irrigation
• Pivot Irrigation
• Furrow Irrigation Systems
• Terraced Irrigation

Latin America Agriculture Irrigation Equipment Market Assessment-by Component
• Tubing
• Sprinklers Head
• Emitter/Drippers
• Irrigation Valves
• Filters
• Irrigation Controllers
• Other Components

Latin America Agriculture Irrigation Equipment Market Assessment-by Application
• Open-field Agriculture
 Cereals & Grains
 Oilseeds & Pulses
 Fruits & Vegetables
 Other Crops
• Closed-field Agriculture

Latin America Agriculture Irrigation Equipment Market Assessment-by Country
• Brazil
• Mexico
• Argentina
• Rest of Latin America

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This release was published on openPR.