Industrial Vegetation Management (IVM) Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Herbicides, Insecticides, Plant Growth Regulators, Others), By Industrial Application (Roadways, Railways, Aquatic Areas, Electric Utilities and Pipelines, Rangeland and Pastureland, Others), and Region

Industrial Vegetation Management (IVM) Market size is estimated to be valued at US$ 1,446.8 million in 2022 and is poised to grow at a significant CAGR of 4.4% over 2023-2029. Industrial vegetation management is described as the technique of deliberately encouraging the low-growing vegetation to reduce the growth of undesirable species such as weeds and avoid service interruptions. Electric companies utilize a variety of technologies to regulate or remove vegetation in a safe and ecologically conscientious manner to avoid such outages.

The goal of vegetation management is to avoid tree damage while preserving a healthy relationship with the environment. Based on product type, the global industrial vegetation market is segmented into Herbicides, Insecticides, Plant Growth Regulators, and Others. Herbicides segment accounted to have largest share and is projected to grow at a significant CAGR over the forecasting period. Chemical control with herbicides has been an important tool for managing weeds in crops and landscapes for many years. Most of the current herbicides are more effective and selective. Although herbicides are widely used, few people understand how they work to control undesirable plants. Considering these benefits herbicide segment is used widely.

The increasing need for industrial vegetation management solely in forestry, electric utility railways, and roadways are major factors that help the market's growth. Furthermore, power utilities, pipelines, and aquatic areas are key drivers boosting the global industrial vegetation management market's growth.

Industrial Vegetation Management (IVM) Market Key Developments

In July 2017 - DBi Services acquired railroad vegetation management specialist reforestation services. The transaction adds to DBi Services existing presence, further increasing its resource capabilities across the United States. In combination to its existing vegetation management and varied service capabilities.