Europe Agricultural Irrigation Machinery Market is projected to grow at a CAGR of 5.9% during the forecast period (2020-2025). With water increasingly becoming a scarce commodity, farmers have been seeking novel ideas to grow more crops with the same quantity of water. Irrigation machinery, including sprinklers, and drippers, is witnessing high demand. This is expected to augment the growth of the market studied. The high capital costs associated with the installation of these irrigation machineries, which the farmers have to incur, is likely to restrain the market growth. Deere & Company, Lindsay Corporation, Rain Bird Corporation, and Rivulis Irrigation Ltd are some of the prominent players in the market. New product launches, mergers, and acquisitions, expansion of manufacturing plants are some of the strategies adopted by these companies to strengthen their position in the market.
Key Market Trends
Increase in Awareness in Drip Irrigation System
There is a growing demand for the drip irrigation system in the European Union owing to the fact that it consumes less water, energy, and guarantees bigger returns for European growers. Maize is one of the principal fodder crops grown in the region that consumes most water for irrigation in terms of surface area, majorly in countries like Italy and France. For effective water management in these crops, Italy and France has approved new drip solutions, namely above-ground drip irrigation solution and Sub-surface drip irrigation. In France, sub¬sur¬face drip irrigation is used to enhance fodder maize production, allowing farmers to take for their cattle while still ensuring there is sufficient food with nutritious quality, resulting in enormous financial savings. With the number of farmers turning towards irrigation machinery, the demand for drip irrigation systems is expected to grow during the forecast period.
Increase in Hydroponic Cultivation
Europe is traditionally the largest market, that is implementing advanced techniques in hydroponics smart greenhouse horticulture. The matured European market demand is led by countries, such as the Netherlands, Spain, and France. In Europe, Holland is the largest producer of hydroponic crops and is expected to maintain the lead for the next 10 years. The major vegetable and fruit crops that are grown using hydroponics in European countries include, cucumber, tomatoes, roses, and peppers among others. As consumers are becoming increasingly aware of the quality difference in greenhouse-grown vegetables, the demand for hydroponics culture is increasing in Europe, thereby stimulating the market growth for irrigation machinery such as drip irrigation in the region.
deere & Company, Lindsay Corporation, Rain Bird Corporation, and Rivulis Irrigation Ltd are some of the prominent players in the market. These companies are making strategic partnerships and are coming up with innovative agricultural irrigation machinery that caters to the needs of farmers in this region.
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