Press release
Global Precision Irrigation Market to Reach $20.29 Billion by 2029, Growing at 16.2% CAGR
Precision Irrigation Market Outlook
The precision irrigation market has expanded rapidly in recent years. It is set to grow from $9.55 billion in 2024 to $11.13 billion in 2025, at a compound annual growth rate (CAGR) of 16.6%. This growth is driven by concerns about water scarcity and drought, the effects of climate change, the increasing adoption of IoT and AI, larger farm sizes, and rising labor costs.
The precision irrigation market is projected to experience significant growth in the upcoming years, reaching $20.29 billion by 2029, with a compound annual growth rate (CAGR) of 16.2%. The growth is driven by climate change adaptation, a demand for sustainable agricultural solutions, the expansion of smart farming practices, and increasing recognition of the interconnectedness of water resources. Key trends include integration with digital farming platforms, improved water management solutions, alignment with climate-smart agriculture practices, optimization of the water-energy nexus, and the use of IoT and sensor technologies.
What Factors Are Fueling Growth in the Precision Irrigation Market?
The surging need for agricultural products is expected to contribute to the expansion of the precision irrigation market. Agricultural products encompass commodities produced through farming activities, including crops and livestock. The increasing demand for these products is attributed to factors such as population growth, changing dietary habits, urbanization, and biofuel production. Precision irrigation systems are used in farming to enhance water efficiency, reduce waste, and improve crop yields by delivering water to crops with precision. For instance, in January 2023, Agriculture and Agri-Food Canada reported that Canada's total field crop production had risen by 34.1% compared to 2021. Additionally, Canada's wheat production (excluding durum) in the 2022-23 period grew by 47% compared to 2021-22, reaching 28.4 million metric tons. As a result, the increasing demand for agricultural products is driving the precision irrigation market.
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Which Leading Companies Are Shaping the Growth of the Precision Irrigation Market?
Major companies operating in the precision irrigation market are Deere & Company, The Toro Company, Valmont Industries, Trimble Navigation Limited, Netafim Ltd., Rain Bird Corporation, Lindsay Corporation, Jain Irrigation Systems Ltd., Ewing Irrigation & Landscape Supply, Hunter Industries, Rivulis Irrigation Ltd., Reinke Manufacturing Company Inc., T-L Irrigation Co, Nelson Irrigation Corporation, Grodan B.V., Hydropoint Data Systems Inc., Cadman Power Equipment Ltd., Signature Control Systems Inc., Precision Lawn Irrigation Inc., Aquaspy Inc., CropMetrics LLC, Hortau Inc., Irrometer Company Inc., Mahindra EPC Industries Limited, AgSmarts Inc., Precision Irrigation Services Pvt Ltd
What Are the Major Trends Shaping the Precision Irrigation Market?
Prominent firms in the precision irrigation market are working on innovative filtration systems for irrigation, such as AlphaDisc filters, to safeguard irrigation systems from clogging caused by organic contaminants. AlphaDisc filtration technology employs advanced materials and design to efficiently eliminate impurities, pollutants, or particles from fluids. For instance, in February 2022, Netafim, a Malaysia-based technology company, introduced its AlphaDisc filter, a cutting-edge filtration system engineered to protect irrigation systems against clogging from organic contaminants. This system delivers superior efficiency, precise depth filtration, a high dirt-holding capacity, and a hyper-modular design, making it easily scalable as growers' requirements evolve. The AlphaDisc filter also features a smart controller and plays a critical role in improving growing conditions, mitigating clogging risks, and increasing crop yields amid deteriorating water quality due to climate change and pollution.
What Are the Key Segments of the Precision Irrigation Market?
The precision irrigation market covered in this report is segmented -
1) By Type: Sprinkler Irrigation, Drip Irrigation
2) By Offering: Solutions, Services
3) By End User: Agriculture, Residential, Turf And Sport Fields, Golf Courses, Parks, And Landscapes, Other End Users
Subsegments:
1) By Sprinkler Irrigation: Center Pivot Irrigation, Lateral Move Irrigation, Fixed Sprinkler Systems, Mobile Sprinkler Systems
2) By Drip Irrigation: Surface Drip Irrigation, Subsurface Drip Irrigation, Online Drip Irrigation, Point Source Drip Irrigation
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Which Region Dominates the Precision Irrigation Market?
North America was the largest region in the precision irrigation market in 2024. The regions covered in the precision irrigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Precision Irrigation Global Market Report?
- Market Size Analysis: Analyze the Precision Irrigation Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Precision Irrigation Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Precision Irrigation Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Precision Irrigation Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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