Drip Irrigation Market Analysis
The drip irrigation market is likely to touch USD 7.9 billion at a 10.3% CAGR between 2019- 2024, reveals the new Market Research Future (MRFR) report. Drip irrigation or trickle irrigation, simply put, is a unique way to directly supply water to the roots of the crops. One of its benefits is that it prevents waterlogging that is generally caused by flood irrigation. Landscape, plantation crops, orchard crops, field crops, and others are some of its major end uses.
Numerous factors are adding to the drip irrigation market demand. Such factors, as revealed by the latest MRFR report, include a decrease in production cost, enhancement of production, water conservation activities, and favourable government initiatives. Additional factors propelling the drip irrigation market growth include increased fertilizer use efficiency, and increasing subsidies provided by the government.
On the contrary, the higher initial investment may limit the drip irrigation market growth over the forecast period.
The drip irrigation key market players include Microjet Irrigation Systems (South Africa), The Toro Company (US), DripWorks, Inc. (US), Netafim Ltd (Israel), Nelson Irrigation Corporation (US), EPC Industries (India), Lindsay Corporation (US), T-L Irrigation Company (India), Jain Irrigation Systems Limited (India), Kothari Agritech Private Limited (India), Chinadrip Irrigation Equipment Co. Ltd (China), Irritec S.p.A (Italy), Antelco Pty Ltd (Australia), Harvel Agua (India), and Rivulis Irrigation Limited (Israel). Industry players have incorporated strategies such as agreements, collaborations, acquisitions, and new product launches to extend their competitive advantage and augment their market position.
The Market Research Future Report provides an inclusive segmental analysis of the drip irrigation market overview based on end use, application technique, and emitter type.
By emitter type, the drip irrigation market is segmented into online emitters and inline emitters. Of these, the inline emitters segment is predicted to lead the market over the forecast period and grow at a high CAGR due to its increasing demand from farmers. They are pre-installed, thus saving labour costs considerably.
By application technique, the drip irrigation market is segmented into subsurface and surface. Of these, the surface irrigation segment will dominate the market over the forecast period due to the burgeoning demand for the irrigation of perennial and vegetable crops.
By end use, the drip irrigation market is segmented into the landscape, plantation crops, orchard crops, field crops, and others. Of these, field crops will have a major share of the market over the forecast period due to the rising awareness among farmers about the benefits of drip irrigation for the cultivation of field crops like increased efficacy of fertilizers and precise and equal distribution of water.
By region, the global drip irrigation market cover the growth opportunities and recent trends across Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will command the largest share of the market over the forecast period due to agriculture being the primary occupation and the burgeoning demand for food.
The drip irrigation market size in North America is predicted to have significant growth over the forecast period due to the rapidly growing agriculture industry.
The drip irrigation market share in Europe is predicted to have notable growth over the forecast period due to the burgeoning demand for drip irrigation systems to boost cultivation of fruits and increasing awareness among farmers regarding sustainable farming practices. Besides, increasing population, water scarcity owing to industrialization, a reduction in arable land, and the government encouraging the production of high-yield crops with limited resources with the help of drip irrigation are also adding to the market growth.
The drip irrigation market in the RoW is predicted to have stable growth over the forecast period for the expansion of the agricultural industry.
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