Need to enhance crop production is expected to drive the growth of global drip irrigation market
According to TechSci Research report, “Global Drip Irrigation Market By Component (Emitters/Drippers, Pressure Pumps, Drip Tubes/Drip Lines, Valves, Filters, Fittings & Accessories, Others), By Crop Type (Cereals & Grains, Pulses & Oilseeds, Fruits & Vegetables, Olericulture, Others), By Emitter Type (Inline v/s Online), By Application (Surface v/s Subsurface), By End Use (Agricultural v/s Non-Agricultural), By Region, Competition, Forecast & Opportunities, 2025”, global drip irrigation market is expected to witness a significant CAGR during the forecast period. Governments across various countries are taking initiatives in promoting usage of drip irrigation systems by offering farmers subsidies, which is one of the major factors accounting for the growth of global drip irrigation market. Moreover, decrease in production cost is expected to bode well for the growth of global drip irrigation market through the forecast period. In addition to this, continuous advancements in emitters is expected to positively influence the growth of global drip irrigation market in the years to come. Also, inadequate rainfall coupled with depletion of water resources are further making headway for the growth of global drip irrigation market over the coming years. However, there are some factors that might act as major impediments to the growth of global drip irrigation market through 2025 including high initial investment associated with installing a drip irrigation system.
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Global drip irrigation market can be segmented based on component, crop type, emitter type, application, end use, company, and region. Based on application, the market can be categorized into surface v/s subsurface. Out of these, the surface drip irrigation segment dominated the market until 2019 and is expected to maintain its dominance during the forecast period as well as these surface drip irrigation equipment are extensively used to irrigate perennial crops, vegetable crops and annual row crops. Surface equipment utilize water, which is applied over the soil by drip tubes or laterals. In addition to this, high costs and increasing demand for cash crops and increasing demand for cash crops are further anticipated to fuel the segmental growth in the years to come. Moreover, wide adoption of surface drip irrigation can also be accredited to achievement for high water distribution uniformity when compared to subsurface irrigation. This is projected to positively impact the growth of segment over the next five years.
The Toro Company, Netafim Limited, Rain Bird Corporation, Jain Irrigation Systems Ltd., Lindsay Corporation, Chinadrip Irrigation Equipment Co. Ltd., Elgo Irrigation Ltd., Shanghai Huawei Water Saving Irrigation Corp., Antelco Pty Ltd., EPC Industries (Mahindra & Mahindra Ltd.), T-L Irrigation Company, Metzer Group Drip Irrigation Systems, Grupo Chamartin S.A., Dripworks Inc., Sistema Azud S.A., are among others are the leading players operating in global drip irrigation market. The players are adopting several growth strategies to enhance the market scenario of drip irrigation. Other competitive strategies include new technological developments; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen their market position.
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“Asia-Pacific is forecast to dominate the global drip irrigation market until 2025 on account of presence of large, irrigated areas in the region. Furthermore, growing awareness among the farmers about modern farming techniques is further anticipated to boost the market growth for drip irrigation over the coming years. Along with this, increasing demand of drip irrigation system from various application in emerging economies, such as India, China, and South Korea is expected to contribute to the growing trend in the upcoming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Drip Irrigation Market By Component (Emitters/Drippers, Pressure Pumps, Drip Tubes/Drip Lines, Valves, Filters, Fittings & Accessories, Others), By Crop Type (Cereals & Grains, Pulses & Oilseeds, Fruits & Vegetables, Olericulture, Others), By Emitter Type (Inline v/s Online), By Application (Surface v/s Subsurface), By End Use (Agricultural v/s Non-Agricultural), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global drip irrigation market and provides statistics & information on market size, structure and market growth future. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global drip irrigation market.
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Source : TechSci Research