The Global Irrigation Machinery Market is estimated to be valued at US$7.54 billion in 2022 and is expected to exhibit a CAGR of 7.6% over the forecast period from 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Irrigation Machinery market involves the manufacturing and distribution of machinery and equipment used in agricultural practices for efficient water management. These machinery and equipment play a crucial role in providing water to crops through various irrigation techniques, such as drip irrigation, sprinkler irrigation, and surface irrigation. They help in improving crop yield, reducing water wastage, and increasing overall agricultural productivity. Manufacturers in this market offer products like irrigation pumps, pipes, fittings, valves, drip emitters, and controllers, among others. These products find applications in various agricultural setups, including farms, greenhouses, and nurseries.
Market Dynamics:
The growth of the Irrigation Machinery market can be attributed to two major drivers. Firstly, the rising global population has increased the demand for food, leading to the adoption of advanced irrigation techniques to ensure higher crop yields. Additionally, technological advancements in irrigation machinery, such as the integration of IoT and AI in irrigation systems, are further driving market growth. These technologies enable farmers to monitor and control irrigation systems remotely, optimizing water usage and reducing operational costs. With the increasing emphasis on sustainable farming practices and water conservation, the demand for efficient irrigation machinery is expected to witness significant growth in the coming years.
Key Takeaways:
The global irrigation machinery market is expected to witness high growth, exhibiting a CAGR of 7.6% over the forecast period. This growth can be attributed to increasing demand for agricultural products, government initiatives promoting efficient water usage, and technological advancements in irrigation machinery. Among the key players operating in the market are Finolex Pipes, Nelson Irrigation Corporation, Rivulis Irrigation Inc., Netafim Limited, Rain Bird Corporation, EPC Industries Limited, Lindsay Corporation, Jain Irrigation Systems Limited, Deere Company, T-l Irrigation Co., Valmont Industries, and The Toro Company.
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