The Europe soil moisture sensor market is projected to grow at a high CAGR during the forecast period.
These sensors can be stationary or portables such as handheld probes. Stationary sensors are placed at predetermined locations and depths in the field, whereas portable soil moisture probes can measure soil moisture at several locations.
Market Drivers
The European economy has been increasing its dependence on a sustainable approach in the current period. The irrigation facilities have resorted to watershed management and scheduling to maximize their output with minimum environmental impact. This is one of the major drivers behind the market in Europe. Additionally, the construction sector which is a prime sector of the economy in European countries has shifted to a greener approach in recent times which has led to further growth in the region.
By type, water potential sensors are widely used owing to the large construction projects. By application, the construction sector uses water management tools extensively followed by the agricultural sector in its irrigation projects.
Growth Factors
This sector has undergone recent changes in the form of sustainable approaches under the observation of regulatory organizations. The tasks of building a new structure, civil engineering, erosion studies, drought management studies, dust control, landslide studies employ these sensors extensively in their works. The stringent building and construction laws in the region have led to the adoption of these pieces of types of equipment in their activities which is furthering the growth of the market.
Irrigation has been a defining feature of agriculture in Europe. Over 40 % of the EU's water use is in agriculture, and most of the freshwater abstraction is for agricultural use in countries like Greece, Spain, and Cyprus (Source: FAO). Prolonged periods of drought, effects of climate change, pollution as well as competition overuse add further pressure on EU waters. Water is an essential but scarce resource whose uses must be optimized in the current period. The government, stakeholders, and private players have formulated policies to adopt well-defined irrigation projects to water the fields. These plans and policies have led to the expansion of the sensor market in the region.
Restraints
The market may witness restrictive forces in the form of high prices in the installation and usage of sensors thereby limiting its usage in smaller projects. But the large scale projects employ this machinery extensively which is pushing the market ahead.
The European markets have been hit by the pandemic severely with the value of the Euro falling in the international market. The agricultural sector witnessed a fall in the value chain but has demonstrated high resilience under the recovery measures. The government has extended several benefits to procure raw materials and instruments to retrace its growth. The construction sector saw a fall during the first wave, but increased dynamically and has since then more or less stagnated. This has indicated meager changes in the market for soil moisture sensors and the growth is expected to continue at the same rates in the years to come.
Competitive Insights
The market leaders for the Europe Soil Moisture Sensor Market are Meter Group Inc., Delta -T Devices, Soil Moisture Sense Ltd, Skye Instruments Ltd, and Eijkelkamp Soil & Water. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For Instance,
Segmentation: