Precision irrigation involves the accurate assessment of the requirements of the plants and accurate application of the required volume at the required time. The development of precision irrigation has played a significant role not only in reducing the water required to maintain the yields of the crop but has also stressed the need for new methods for accuracy of irrigation scheduling and control. The market for precision irrigation was valued at USD 2.76 billion in the year 2017 and is expected to grow further by 2023, registering a CAGR of 7.2% in the forecast period.
Market Dynamics
The market for precision irrigation is driven by factors such as an increasing need for efficient use of water worldwide, demand for varieties of crops available round the year, rising population and its increasing food demand, and strong support from different government organizations who encourage and promote farmers to adopt precision irrigation and enhanced yield and quality of crops by using precision irrigation. The major factors that are restricting the market are high initial installation cost and maintenance cost, and lack of technical expertise to interpret and operate precision irrigation technologies.
Boom Irrigation System to be the Best Technology
Boom irrigation systems have proved to be the best technology developments in precision irrigation over the last 20 years. They work best with plug or cell trays, pot-to-pot spaced plants or cutting in beds. The system has efficiency and precision in watering, thus reducing wastage. This system requires less water because it operates to provide the optimum amount of water for the crop. Labor is also reduced as irrigation can be done while doing other tasks.
North America Dominates the Precision Irrigation Market
In 2016, North America dominated the precision irrigation market with a share of more than 30%. The United States dominates the market for precision irrigation in the region. During the forecast period, North America is expected to witness a CAGR of 6.9%. Large-scale farmlands, the ever-existing need to increase the productivity of agriculture, and high labor costs will drive the market for precision irrigation in this region. Farmers in this region are highly skilled and are willing to embrace new technologies, therefore, high growth rates are expected to be seen in the region.
Major Players: Rivulis Irrigation Ltd, Jain Irrigation Systems Ltd, Valmont Industries Inc., The Toro Company, Lindsay Corporation, Rain Bird Corporation, Nelson Irrigation Corporation, and Netafim Ltd, among others.
Reasons to Purchase the Report
- Identify the dominating and the fastest growing regions in the global precision irrigation market and their growth trends during the forecast period
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To understand the regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
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1. Introduction
1.1 Market Definition
1.2 Key Findings of the Study
2. Research Scope & Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Methodology
2.4 Research Phases
3. Market Overview
3.1 Market Dynamics
3.1.1 Drivers
3.1.1.1 Global Focus on Efficient Use of Water
3.1.1.2 Demand for Variety in Crops around the Year
3.1.1.3 Rising Population and Increasing Food Demand
3.1.1.4 Initiatives and Support by Government Organizations
3.1.1.5 Better Yield and Quality Concern for Crops
3.1.2 Restraints
3.1.2.1 High Initial Set-up and Maintenance Cost
3.1.2.2 Lack of Technical Expertise
4. Industry Analysis
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Suppliers
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of New Entrants
4.1.4 Threat of Substitute Products and Services
4.1.5 Degree of Competition
5. Market Segmentation
5.1 By Type
5.1.1 Sprinkler Irrigation
5.1.1.1 Traditional Sprinklers
5.1.1.2 Center Pivot Sprinklers
5.1.1.3 Lateral Move/ Linear Sprinklers
5.1.2 Drip Irrigation
5.1.2.1 Surface Drip Irrigation
5.1.2.2 Sub-Surface Drip Irrigation
5.1.2.3 Precision Mobile Drip Irrigation
5.1.3 Boom Irrigation System
5.2 By Applications
5.2.1 Crop-based Application
5.2.1.1 Cereals & Grains
5.2.1.2 Oilseeds
5.2.1.3 Fruits & Vegetables
5.2.2 Non-crop-based Application
5.2.2.1 Turf & Ornamentals
5.2.2.2 Nursery Crops
5.3 By Geographical Regions
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 Turkey
5.3.2.3 Italy
5.3.2.4 The Netherlands
5.3.2.5 France
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 South Korea
5.3.3.3 India
5.3.3.4 Japan
5.3.3.5 Australia
5.3.3.6 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Africa
5.3.5.1 South Africa
5.3.5.2 Rest of Africa
6. Competitive landscape
6.1 Market Share Analysis
6.2 Major Strategies Adopted by Leading Players
6.3 Most Active Companies
7. Companies Profiles#
7.1 Jain Irrigation Systems Ltd
7.2 Lindsay Corporation
7.3 Nelson Irrigation Corporation
7.4 Netafim Ltd
7.5 Rain Bird Corporation
7.6 Reinke Manufacturer
7.7 Rivulis Irrigation Ltd
7.8 The Toro Company
7.9 TL irrigation
7.10 Valmont Industries Inc.
#List Not Exhaustive
8. Future of the Market
9. Appendix
10. Disclaimer
