Fertigation & Chemigation Market REPORT OVERVIEW
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The global Fertigation & Chemigation market size was USD 32410 million in 2022 and market is projected to touch USD 53464.9 million by 2032, exhibiting a CAGR of 4.8% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the Global Fertigation & Chemigation Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The slow delivery of nutrients and water on or below the soil using surface drip, subsurface drip, bubbler, and micro-sprinkler systems is known as fertilization and chemigation. Fertigation and chemical treatments have several benefits, including little water waste, little labour demand, and the ability to defend against drought circumstances, all of which contribute to the market's expansion. The market for fertigation and chemigation has been growing as a result of the world's growing water shortage, as well as the significant advancements and initiatives made by emerging economies through water replenishment and programs.
COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market
The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.
LATEST TRENDS
"Growth of the market in recent years"
Fertigation is a technique for applying fertilizer in which the nutrients are infused into irrigation water and delivered via a drip system. Micro irrigation and fertilization provide the potential to control nutrients specifically in addition to water. A key advantage of fertigation over traditional broadcast treatments is that it offers more flexibility and control over the applied nutrients. Fertilizer solution is dispersed during fertigation via the irrigation system. The extremely high availability of the nutrients boosts this method's effectiveness. This method uses both liquid and water-soluble fertilisers, and both are more effective since the nutrients are delivered through fertigation close to the active root zone, resulting in increased absorption by the plant.
Fertigation & Chemigation Market SEGMENTATION
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- By Type
Based on type the Global Fertigation & Chemigation Market is classified as Fertilizer, Herbicide, Insecticide, Fungicide.
- By Application
Based on application the Global Fertigation & Chemigation Market is classified as Agricultural, Landscape, Greenhouse.
DRIVING FACTORS
"The Utilization as a Catalyst to Boost the Market Growth "
These more advanced methods of fertilization and nutrient supply use less water and labour than older ones. Thus, by improving fertilizer usage efficiency, lowering fertiliser application, and increasing returns on fertilizer investment, these strategies provide a significant potential to maximise agricultural output and decrease environmental pollution. Additionally, since many countries are already experiencing groundwater depletion, the planet faces a significant risk of future water scarcity. Since there will be less water available for agriculture in the future, it is crucial to use it effectively. As a result, the market is anticipated to grow throughout the forecast period.
"Extensive Application in Laundering Process to Multiply the Production and Market Growth"
The market segment for drip irrigation is anticipated to experience the greatest CAGR over the forecast period. Subsurface drip irrigation techniques are mostly employed in these nations to increase the production of feed corn. The market for micro-irrigation systems has seen greater revenues globally as a result of the significant financial savings that emerge from this. In China, drip fertigation is commonly used to grow fruit and vegetable plants, however there isn't a reliable, practical, or affordable drip fertigation system for growing maize. However, it has been discovered that in sandy soil, fertigation of maize increases maize production, water and nutrient usage efficiency, and economic benefit simultaneously. The demand for these fertigation solutions is predicted to increase in the upcoming year along with the adoption of irrigation practises.
RESTRAINING FACTORS
"Several Challenges Associated with the Local Irritation to Restrain the Market"
In developing nations like India, China, and Brazil, the government is attempting to implement various innovations to minimize water usage and increase agricultural productivity. Nearly 48.8% of India's agricultural land is under irrigation. The Pradhan Mantri Krishi Sinchayee Yojana's (PMKSY-PDMC) Per Drop More Crop Component was put into place by the Department of Agriculture, Cooperation, and Farmers' Welfare. Through micro irrigation, including drip and sprinkler irrigation systems, the PMKSY-PDMC aims to increase water use efficiency at the farm level. Therefore, there are several potentials for this fertigation and chemigation products to grow as farmers depend more on irrigation methods.
Fertigation & Chemigation Market REGIONAL INSIGHTS
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"North American Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"
As of 2019, the fertigation and chemigation market is dominated by Europe in terms of revenue. The market is being driven by the region's growing population and its need for commodities of higher grade. Fertigation and chemigation enable low nutrient losses due to leaching, high nutrient utilisation efficiency, higher crop development, quality, and yield. Since a great deal of research is actively being done in various nations, including the United Kingdom, France, Spain, and Germany, there is a great deal of awareness about the advantages of employing these methodologies. As they expand and introduce goods to increase their market share in the area, The Toro Company, Rivulis Irrigation, Valmont Industries Inc., and Lindsay Corporation are active businesses in the area.
KEY INDUSTRY PLAYERS
"Financial Players to Contribute Towards Expansion of Market"
This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.
List of Market Players Profiled
- Valmont Industries (US)
- The Toro Company (US)
- Jain Irrigation Systems Limited (India)
- Lindsay Corporation (US)
- Rivulis Irrigation (US)
- Netafim (Israel)
- Rain Bird Corporation (US)
- T-L Irrigation Co (US)
- Nelson Irrigation Corporation (US)
- EPC Industrie Limited (India)
REPORT COVERAGE
The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 32410 Million in 2022 |
Market Size Value By |
US$ 53464.9 Million by 2032 |
Growth Rate |
CAGR of 4.8% from 2022 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
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By Application
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Frequently Asked Questions
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What value is the Fertigation & Chemigation market expected to touch by 2032?
The Global Fertigation & Chemigation Market is expected to USD 53464.9 million by 2032
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What CAGR is the Fertigation & Chemigation market expected to exhibit by 2032?
The Fertigation & Chemigation market is expected to exhibit a CAGR of 4.8% by 2032.
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Which are the driving factors of the Fertigation & Chemigation market?
These more advanced methods of fertilization and nutrient supply use less water and labour than older ones.
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Which are the key players functioning in the Fertigation & Chemigation market?
Valmont Industries, The Toro Company, Jain Irrigation Systems Limited, Lindsay Corporation, Rivulis Irrigation, Netafim, Rain Bird Corporation, T-L Irrigation Co, Nelson Irrigation Corporation, EPC Industrie Limited are the key players functioning in the Fertigation & Chemigation market.