Irrigation Valves Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Irrigation Valves Market Analysis

The Irrigation Valves Market is expected to register a CAGR of 7.1% over the forecast period. Furthermore, increasing preference for endurable and eco-friendly practices in agriculture and increasing population are the primary drivers of this market growth. In August 2022, a Special Food Processing Fund of USD 242.72 million was set up with National Bank for Agriculture and Rural Development to provide appropriate credit for investments in setting up Mega Food Parks (MFP) and processing units in the MFPs.

• Irrigation Valves control the rate of water flow in an irrigation system. This is achieved by maintaining water pressure to either increase or decrease the speed at which it flows through a pipe. They control this limit using valves inside them, allowing for high-volume discharges with minimum user effort.
• The growing need for water conservation, increasing demand for food crops, and support from various government initiatives further drive market growth. Furthermore, in November 2022, the Central government added a few more objectives in Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for agriculture & irrigation. The goals include the Convergence of investments in irrigation at the field level, Expanding cultivable area under assured irrigation, Enhancing adoption of other water-saving technologies (More crops per drop), Enhance the adoption of precision irrigation, Improving on-farm water use efficiency to decrease wastage of water, Attract more excellent private investment in the precision irrigation system and many more.
• Technological developments in the agricultural sector may further fuel demand in the studied market. In October 2022, Rivulis India launched a unique tool to help Indian farmers make informed decisions about irrigation essentials in their fields. This tool is free for customers and available in the Indian vernacular language for farmers.
• Furthermore, increasing the agricultural land under cultivation will significantly expand the demand for irrigation valves to monitor crops easily. Moreover, China has the most significant area equipped for irrigation, as the area under arable land accounted for 118.9 thousand hectares. Agriculture contributes approximately 3.4% to China's GDP. Farming accounts for about 65% of water use in China. It is also Iis one of the highest producers and consumers of water-intensive crops, such as rice and corn.
• Furthermore, in January 2022, the U.S. Department of Agriculture NRCS announced several recent and expanded opportunities for climate-smart agriculture in the country. NRCS further collaborated with Farmers For Soil Health, the United Soybean Board initiative, the National Corn Growers Association, and the National Pork Board. Farmers For Soil Health works to advance soil health practices, mainly covering crops on corn and soybean farms. The initiative aims to double the farming of soybean and corn using cover crops to 30 million acres by 2030.
• However, the supply chain systems were affected due to the COVID-19 epidemic since many essential equipment and supplies are heavily dependent on imports from other nations. Furthermore, the religious obligation of government authorities to follow social distance rules lets firms operate with the minimum level of workers, causing a reduction in the industrial output rate in the irrigation valve market. Furthermore, the studied market is anticipated to grow as the government invests more to boost the agriculture sector.

Irrigation Valves Market Trends

Ball Valves Expected to Hold Significant Market

Irrigation Valves Industry Segmentation

An Irrigation Valve regulates the one-directional flow of water in an irrigation system. These valves are usually found in sprinkler systems used for parks, golf courses, and home grounds. They help control water flow in above-ground and in-ground systems planted well beneath the surface to present a less cluttered, more attractive landscape. The Studied market is segmented by Metal Valves and Plastic Valves material types among various Valve Types such as Ball Valve, Butterfly Valve, Globe Valve, and Automatic Valve. The market is also segmented by agricultural and Non-agricultural applications in multiple geographies. The impact of COVID-19 on the market and impacted segments are also covered under the scope of the study. Further, the disruption of the factors affecting the market's expansion in the near future has been covered in the study regarding drivers and restraints. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.