Precision Irrigation Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.94 Billion |
| Market Size (2029) | USD 7.47 Billion |
| CAGR (2024 - 2029) | 8.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Precision Irrigation Market Analysis
The Precision Irrigation Market size is estimated at USD 4.94 billion in 2024, and is expected to reach USD 7.47 billion by 2029, growing at a CAGR of 8.5% during the forecast period (2024-2029).
- Water scarcity poses a significant challenge, driving the long-term adoption of precision irrigation systems. As consumer demand grows, the need for artificial irrigation has surged to secure high crop yields. Additionally, the consolidation of farmlands globally enables farmers to invest in costly systems like precision irrigation, further propelling the market.
- Technological developments are further catalyzing the expansion of the market across various regions. For example, in 2020, Nelson Irrigation Corporation introduced the R55VT and R75 End of Pivot Sprinklers, which can be easily attached to any center pivot system, excluding the impact pivot sprinklers. As technology is made affordable and efficient, the adoption rate of precision irrigation machinery is anticipated to increase. This is expected to increase the growth of the market during the forecast period. However, precision irrigation systems such as drip and sprinkler systems come with technical complexities, and the steep installation costs of these systems are hindering their widespread adoption.
- Moreover, due to favorable government policies regarding low-interest loans and subsidies for implementing modern and advanced precision irrigation systems, the precision irrigation market is likely to increase quickly in developing markets such as South America and Asia-Pacific in the coming years. Increasing awareness and high adaptability of new technologies in Asia-Pacific are driving market growth at a rapid pace.
Precision Irrigation Market Trends
Rapid Growth of Greenhouse Vegetable Production
Automatic drip irrigation is crucial in managing soil moisture, particularly for specialized greenhouse vegetables. By fully automating these systems, growers can precisely control soil moisture and water application. Moreover, such automation is anticipated to boost profits per yield.
Water scarcity poses significant challenges for vegetable farmers across various European nations. As a result, precision irrigation systems are rapidly gaining traction in the region. In 2021, the Association of Belgian Horticultural Auctions reported that Belgium's greenhouse vegetable production reached 405.4 thousand metric tons, with tomatoes accounting for 304.1 thousand metric tons. Additionally, bolstered by favorable climatic conditions and rising demand for enhanced crop yields and returns on investment, Sweden's greenhouse tomato production surged by 17.9% from 2020 to 2021.
Soilless cultivation is primarily used for greenhouse vegetable production in the United States, Canada, Japan, India, the Middle East, and Europe. As greenhouse vegetables require ample amounts of water, farmers are switching to sprinkler and drip irrigation systems to achieve higher crop productivity, and technological innovation by the market players in the future motivates the adoption. For instance, in August 2023, Netafim encouraged drip irrigation systems to be provided through four Better Life Farming (BLF) Centers in Shivpuri under protected cultivation for tomatoes on 1,600 hectares of land.
North America Dominates the Market
Precision irrigation systems find their primary hub in North America, with the United States leading the charge, commanding over half of the region's market share. Federal, state, and local water development initiatives and advancements in groundwater pumping technologies have significantly broadened the US irrigated landscape. In 2023, research conducted by the Texas A&M AgriLife Research and Extension Center, Amarillo, United States, stated that the evaluation and usage of Surface Drip Irrigation Systems escalated the water-use efficiency in high-value vegetable production in the semi-arid, windy region of the Texas high plains. It could be challenging for tomatoes in open-field conditions to achieve an economically viable crop, even when using a surface drip irrigation system, due to the potential for extreme losses to both biotic and abiotic stressors.
The Bajio region of Mexico is a leading producer of barley, a crop known for its substantial groundwater consumption. As groundwater levels in the region dwindle, there is an urgent call for innovative water-saving technologies. A 2021 study highlighted that a blend of drip irrigation and conservation agriculture could slash water usage in barley farming by as much as 40%. This finding is set to champion the broader adoption of precision irrigation in the region's barley farming. In 2021, the Aguascalientes Water Fund, a division of Veolia Water Technologies, collaborated with The Nature Conservancy and the local municipality. Their joint effort aimed to assist vulnerable farmers in Aguascalientes, encouraging them to invest in drip irrigation equipment, thereby bolstering farm resilience and potentially increasing the uptake of these systems.
Moreover, Canadian farmers, known for their expertise, are quick to adopt new technologies, leading to anticipated high growth rates in the region. According to Statistics Canada, Canadian farmers increased their water usage for crop irrigation by 23% in 2022 compared to 2020, which is majorly attributed to the drier climatic conditions in various regions throughout the country. In recent years, there has been a notable surge in the prevalence of drip irrigation on Canadian farms. According to Canadian statistics, in 2022, the number of farms adopting drip irrigation increased by 33.2% compared to 2020. Therefore, unpredictable climatic conditions and the growing adoption of innovative water-saving techniques may increase the use of precision irrigation in North American agricultural production during the forecast period.
Precision Irrigation Industry Overview
The precision irrigation market is consolidated with major companies such as Orbia (Netafim Limited), Jain Irrigation Systems Limited, The Toro Company, and Valmont. Orbia (Netafim Limited) held the highest market share, followed by Jain Irrigation Systems Limited. Establishing a strong distribution network is a prime strategy well-established market players follow. Moreover, some companies have signed definitive dealership agreements with a wide range of dealers to enhance accessibility.
Precision Irrigation Market Leaders
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Jain Irrigation Systems Ltd
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The Toro Company.
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Valmont Industries
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Rain Bird Corporation
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Orbia (Netafim Limited)
*Disclaimer: Major Players sorted in no particular order
Precision Irrigation Market News
- September 2023: Jain Irrigation Systems Limited partnered with the Water Management and Plumbing Skills Council (WMPSC) to boost skills and foster innovation in water management, including drip water management and plumbing. The core purpose of this partnership is to share knowledge, experiences, resources, and connections within the water and plumbing industries, which helps the company.
- June 2022: Rivulis Irrigation India Ltd and Jain Irrigation Systems Limited merged their businesses to become one of the largest global irrigation system providers.
- February 2022: Netafim Limited introduced the AlphaDisc Filter to the US market, protecting irrigation systems against clogging caused by organic contaminants. This innovation has the potential to enable growers to achieve more uniform irrigation, ultimately leading to increased productivity.
Precision Irrigation Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 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 Other Types
5.2 Crop Type
5.2.1 Field Crops
5.2.2 Plantation Crops
5.2.3 Orchards and Vineyards
5.2.4 Turf and Ornamentals
5.3 Geography
5.3.1 North America
5.3.1.1 United States
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 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Spain
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 South Korea
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 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Jain Irrigation Systems Ltd
6.3.2 Lindsay Corporation
6.3.3 Nelson Irrigation Corporation
6.3.4 Netafim Ltd
6.3.5 Rain Bird Corporation
6.3.6 Rivulis Irrigation Ltd
6.3.7 The Toro Company
6.3.8 Valmont Industries Inc.
6.3.9 Mahindra EPC Industries Limited
6.3.10 T-l Irrigation Co.
6.3.11 Deere & Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Precision Irrigation Industry Segmentation
Precision irrigation is an innovative and sustainable agricultural method that delivers water and nutrients to the plant at the precise time and location in small, measured quantities, providing optimal growing conditions. The precision irrigation market is segmented by type (drip irrigation, sprinkler irrigation, and other types), crop type (field crops, plantation crops, orchards and vineyards, and turf and ornamentals), and geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market estimation and forecasts in terms of Value (USD) for all of the above segments.
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Precision Irrigation Market Research FAQs
How big is the Precision Irrigation Market?
The Precision Irrigation Market size is expected to reach USD 4.94 billion in 2024 and grow at a CAGR of 8.5% to reach USD 7.47 billion by 2029.
What is the current Precision Irrigation Market size?
In 2024, the Precision Irrigation Market size is expected to reach USD 4.94 billion.
Who are the key players in Precision Irrigation Market?
Jain Irrigation Systems Ltd, The Toro Company., Valmont Industries, Rain Bird Corporation and Orbia (Netafim Limited) are the major companies operating in the Precision Irrigation Market.
Which is the fastest growing region in Precision Irrigation Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Precision Irrigation Market?
In 2024, the North America accounts for the largest market share in Precision Irrigation Market.
What years does this Precision Irrigation Market cover, and what was the market size in 2023?
In 2023, the Precision Irrigation Market size was estimated at USD 4.52 billion. The report covers the Precision Irrigation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Precision Irrigation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Precision Irrigation Industry Report
Statistics for the 2024 Precision Irrigation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Precision Irrigation analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Precision Irrigation Market Report Snapshots
