New York, June 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Water Supply & Irrigation Systems Global Market Report 2023" - https://www.reportlinker.com/p06464016/?utm_source=GNW
, Netafim, The Toro Company, Hunter Industries, Elgo Irrigation Ltd., Alkhorayef Group Company, Irritec S.p.A, Rivulis Irrigation Ltd., and Mahindra EPC Irrigation Limited (MEIL).
The global water supply & irrigation systems market is expected to grow from $326.19 billion in 2022 to $349.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The water supply & irrigation systems market is expected to reach $444.26 billion in 2027 at a CAGR of 6.2%.
The water supply and irrigation systems market consists of sales of drip irrigation systems, HDPE piping systems, filters, dosing pumps, and sprinkler irrigation systems.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Water supply and irrigation systems involve the use of sprinkler irrigation, surface irrigation, drip irrigation, and sub-irrigation to supply water from natural sources, such as a river or lake, in a reservoir or other storage facility. Water is transported from the primary intake structure or pumping station up to the field ditches by the flow system.
North America was the largest region in the water supply & irrigation systems market in 2022. The regions covered in water supply and irrigation systems report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of water supply & irrigation systems are center pivot, lateral move, solid set and others.Center pivots are irrigation systems used in agriculture to water crops in a circular pattern.
The various crop types involved are cereals, oilseeds and pulses, fruits and vegetables, others that have stational and towable mobility and are planted on small, medium and large fields.
Increasing organic farming is expected to propel the growth of the water supply and irrigation systems market going forward.Organic farming is an agricultural system that employs ecologically friendly weed, pest, and disease management techniques.
Irrigation systems are installed in organic farming to distribute water to crop roots, wherein water is released from several sprinklers placed on wheeled towers in center-pivot systems.Thus, more organic farming will increase the demand for water supply and irrigation systems.
For instance, in December 2022, according to United States Department of Agriculture, a US-based federal agency, between 2019 and 2021, the US certified organic farms with organic production climbed by 5% to 17,445 acres, and certified organic cropland increased by 3% to 3.6 million acres. Therefore, increasing organic farming is driving the growth of the water supply and irrigation systems market.
Product innovation is a key trend gaining popularity in the water supply and irrigation systems market.Companies operating in the water supply and irrigation systems market are focused on innovative products to reinforce their position in the market.
For instance, in April 2022, Viridix, an Israel-based manufacturer of precision irrigation systems and the innovative agri-tech platform, launched the Viridix Gen3 Auto-Pilot system, an advanced precision irrigation system.The special features include sensors for water pressure sensors, air humidity and temperature sensors, and remote watering controllers.
The advanced and easy-to-use platform provides phenomenal effectiveness through a holistic autonomous solution for optimized precision irrigation.
In March 2022, Orchard & Vineyard Supply, a US-based solutions provider for commercial orchards and vineyards acquired Clearwater Irrigation Supply for an undisclosed amount.With this acquisition, Orchard & Vineyard Supply will be able to provide farmers and producers in the Pacific Northwest with a larger selection of options and capabilities.
Clearwater Irrigation Supply is a US-based full-service ag irrigation company specializing in irrigation design, installation and maintenance of drip irrigation supplies, sprinklers and PVC pipe & fittings.
The countries covered in the water supply and irrigation systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The water supply & irrigation systems market research report is one of a series of new reports that provides water supply & irrigation systems market statistics, including water supply & irrigation systems industry global market size, regional shares, competitors with water supply & irrigation systems market share, detailed water supply & irrigation systems market segments, market trends, and opportunities, and any further data you may need to thrive in the water supply & irrigation systems industry. This water supply & irrigation systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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