A new report from Meticulous Research® projects that the global Irrigation Equipment Market will grow to $15.75 billion by 2031, with a CAGR of 9.3% during the period of 2024 to 2031. Key drivers of this growth include mounting concerns over water scarcity, proactive government measures aimed at water conservation, and the rising demand for agricultural mechanization. However, the substantial costs involved in acquiring and maintaining modern irrigation equipment continue to hinder wider adoption.

The industry is also poised to benefit from ongoing technological innovations and greater automation in irrigation systems. However, a lack of awareness around advanced irrigation technologies remains a key obstacle to market growth.

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Notably, precision farming techniques and the emergence of Irrigation as a Service (IaaS) are becoming prominent trends, further stimulating growth in the irrigation equipment market.

Major Players

The competitive landscape of the irrigation equipment market includes both large and small players across global, regional, and local levels. Some key players in this market are The Toro Company (U.S.), Jain Irrigation Systems Limited (India), Netafim Ltd. (Israel), Valmont Industries, Inc. (U.S.), Lindsay Corporation (U.S.), Hunter Industries Inc. (U.S.), Rain Bird Corporation (U.S.), T-L Irrigation Company (U.S.), Reinke Manufacturing Co., Inc. (U.S.), Rivulis Irrigation Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Irritec S.p.A (Italy), Chinadrip Irrigation Equipment (Xiamen) Co., Ltd. (China), and Galcon Bakarim Agricultural Cooperative Society Ltd. (Israel).

Market Breakdown

The irrigation equipment market is segmented by components, irrigation types, applications, and geographical regions. Major components include tubing, emitters, sprinklers, pumps, irrigation valves, filters, controllers, sensors, connectors, and pressure regulators, among others. The tubing segment is forecasted to command the largest market share in 2024, driven by the increasing adoption of drip and sprinkler irrigation, government support, and continuous technological advancements in tubing solutions.

Irrigation types are categorized into drip, sprinkler, pivot, and others. Drip irrigation is expected to lead the market in 2024, thanks to technological innovations and the growing adoption of precision farming methods.

Applications for irrigation equipment are divided into agricultural and non-agricultural sectors. The agricultural sector is expected to hold the largest share, driven by expanding crop cultivation, increasing demand for water-efficient irrigation methods, and a wide supplier base. Technological advancements and government initiatives promoting sustainable farming practices will also drive growth in this sector.

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Regional Insights

This report provides a comprehensive analysis of major global regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is forecasted to account for the largest share of the global irrigation equipment market. The region's market growth is driven by increased mechanization in agriculture, rising water scarcity, and growing governmental support for water conservation initiatives. Additionally, favorable loan and subsidy programs for irrigation equipment purchases are likely to contribute to further market expansion in the region.

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