Meticulous Research®—a leading global market research company, published a research report titled, ‘Latin America Agriculture Irrigation Equipment Market by Type (Drip, Sprinkler, Pivot, Furrow Irrigation), Component (Tubing, Emitter, Sprinklers, Filters), Application (Open-field {Cereals & Grains, Fruit and Vegetables}, Closed-field) - Forecast to 2030.’

According to this latest publication from Meticulous Research®, the Latin America agriculture irrigation equipment market is projected to reach $349.7 million by 2030, at a CAGR of 5.7% from 2023 to 2030.The growth of this market is driven by the rising agricultural water scarcity in the region, the increasing government initiatives for sustainable water use, and the increasing need for mechanization of agricultural operations. However, the high initial costs of advanced agriculture irrigation equipment and high maintenance costs are hindering the growth of this market to some extent.

Moreover, technological advancements in irrigation equipment and the rising automation of irrigation systems are expected to provide market growth opportunities for the stakeholders operating in this market. However, low awareness of advanced agriculture irrigation technologies is a major challenge for the players in this market. Additionally, the increasing adoption of precision farming techniques is a prominent trend in the Latin America agriculture irrigation equipment market.

Key Players:
The Latin America agriculture irrigation equipment market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the agriculture irrigation equipment market in Latin America are Netafim Ltd. (Israel), Nelson Irrigation Corporation (U.S.), Jain Irrigation Systems Limited (India), T-L Irrigation Company (U.S.), Valmont Industries, Inc. (U.S.), Lindsay Corporation (U.S.), Rivulis Irrigation Ltd. (Israel), The Toro Company (U.S.), Rain
Bird Corporation (U.S.), and Galcon Bakarim Agricultural Cooperative Society Ltd. (Israel).

The Latin America agriculture irrigation equipment market is segmented by type (drip irrigation, sprinkler irrigation, pivot irrigation, furrow irrigation systems, and terraced irrigation), by component (tubing, sprinklers head, emitter/drippers, irrigation valves, filters, irrigation controllers, and other components), by application (open-field agriculture {cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops}, and closed-field agriculture), and country (Brazil, Mexico, Argentina, and Rest of Latin America).

Based on type, the Latin America agriculture irrigation equipment market is segmented into drip irrigation, sprinkler irrigation, pivot irrigation, furrow irrigation systems, and terraced irrigation. The drip irrigation segment is expected to account for the largest share of the Latin America agriculture irrigation equipment market in 2023. The large market share of this segment is attributed to factors such as increasing demand for drip irrigation systems, primarily in field crops, rising government support and subsidies for drip irrigation to mitigate the impact of water scarcity, growing areas under soybean and coffee cultivation, and rising demand for precision irrigation technologies in the region. Moreover, the drip irrigation segment is further expected to register the highest CAGR during the forecast period of 2023-2030. The growth of this segment is attributed to the technological advancements in micro-irrigation systems, rising awareness about advanced irrigation technologies, and the growing need for efficient water management in the agriculture sector due to rising water scarcity.

Based on component, the Latin America agriculture irrigation equipment market is segmented into tubing, sprinkler heads, emitter/drippers, irrigation valves, filters, irrigation controllers, and other components. In 2023, the tubing segment is expected to account for the largest share of the Latin America agriculture irrigation equipment market. The large market share of this segment is attributed to the increasing adoption of drip and sprinkler irrigation techniques, where tubing plays a crucial role as an essential component for delivering water directly to plant roots and a high number of players offering innovative products. Moreover, the tubing segment is projected to register the highest CAGR during the forecast period of 2023–2030. This growth is driven by innovations in tubing technology and the absence of viable substitutes for tubing in irrigation systems.

Based on application, the Latin America agriculture irrigation equipment market is segmented into open-field agriculture and closed-field agriculture. In 2023, the open-field agriculture segment is expected to account for the larger share of the Latin America agriculture irrigation equipment market. The large market share of this segment is attributed to the extensive land area dedicated to open-field agriculture, the rising demand for row crops, and the increasing government initiatives aimed at reducing water wastage through conventional irrigation methods to address water scarcity challenges in the region.

Geographic Review
In 2023, Brazil is expected to account for the largest share of the Latin America agriculture irrigation equipment market, followed by India and Japan. Brazil’s significant market share is attributed to growing demand for micro irrigation systems, rising government initiatives for water conservation, extensive agricultural land area with high coffee production, growing water scarcity concerns, and the rising adoption of automated irrigation systems.

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Key Questions Answered in the Report:
• What is the revenue generated by the sales of agriculture irrigation equipment in Latin America?
• At what rate is the demand for agriculture irrigation equipment projected to grow in Latin America in the next 5-7 years?
• What is the historical market size and growth rate for the Latin America agriculture irrigation equipment market?
• What are the major factors impacting the growth of this market in Latin America?
• What are the major opportunities for existing players and new entrants in the market?
• Which type, component, and application segments are expected to create major traction for the manufacturers in this market?
• What are the key geographical trends in this market? Which countries are expected to offer significant growth opportunities for the manufacturers operating in the Latin America agriculture irrigation equipment market?
• Who are the major players in the Latin America agriculture irrigation equipment market? What are their specific product offerings in this market?
• What recent developments have taken place in the Latin America agriculture irrigation equipment market? What impact have these strategic developments created on the market?

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