Market Insights
Global Drip Irrigation Market is poised to attain USD 7.9 Billion over the forecast period (2019-2024) with a CAGR of 10.3%.
Drip irrigation method offers several advantages, such as less fertilization and water use, increased agricultural production, elimination of flooding by irrigation, and equitable distribution of water for all crops in the field. Growing awareness of the benefits of drip irrigation and the increasing acceptance of modern agricultural practices are predicted to propel the progress of the global drip irrigation market.
Various governments of different countries are supporting and motivating farmers to integrate drip irrigation systems by offering necessary operational guidance and subsidies, which is creating a huge demand for drip irrigation equipment and accessories, hence driving the growth of the global market. The precise composition of fertilizers helps curb the cost and happens to be a key factor encouraging the adoption of drip irrigation.
However, the factor that might hamper the growth of the global drip irrigation market is the high installation cost.
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Key Players
The players involved in making innovation in the agricultural and farming infrastructures include some of the renowned entities around the globe. This industry giants functioning in the drip irrigation market include Harvel Agua, Jain Irrigation Systems Limited, Lindsay Corporation, Kothari Agritech Private Limited, Irritec S.p.A, Microjet Irrigation Systems, The Toro Company, Chinadrip Irrigation Equipment Co. Ltd, T-L Irrigation Company, Antelco Pty Ltd, EPC Industries, Microjet Irrigation Systems, Netafim Ltd, and The Toro Company.
Recent Updates
Rivulis Israel, a micro-irrigation company, has introduced a novel software solution for irrigation based on satellite, through Rivulis Irrigation in India. Its app named Manna provides live irrigation feeds and recommendations that are site-specific. It also offers real time maps for crop monitoring.
Market Segmentation
The global drip irrigation market is segmented based on transmitter type, application technology, and end-use.
The market has been split into and online emitters based on channel type. The inline emitters segment is expected to represent a larger market share and grow with a high growth rate due to high demand from farmers. The inline emitters are pre-installed, which saves a lot of manpower, and should stimulate its demand during the evaluation period.
The drip irrigation market was divided into surface and subsurface based on the application technique. The surface segment is expected to have a larger market share and to grow over the period considered with a higher CAGR due to the high demand for irrigation perennial crops and vegetable crops.
Based on end-use, the global drip irrigation market is divided into plantation crops field, crops, orchard crops, landscape, and others. The field crop segment is likely to grow at a high CAGR rate over the forecast period due to farmers’ spreading awareness about the efficiency and benefits of drip irrigation for large scale crops, such as equal and accurate water distribution and higher fertilizer efficiency.
Regional Outlook
Geographically, the global drip irrigation market is divided between North America, Europe, Asia Pacific, and the rest of the global. The Asia Pacific region is expected to dominate the global market, with agriculture being a vital activity in several countries in the region. In addition, growing demand for food has led to increased productivity, which should stimulate growth in the drip irrigation market in the region.
North America is expected to represent significant market share during the period considered due to the rapid expansion of the agricultural sector. Farmers are becoming increasingly aware of sustainable farming methods and the high demand for drip irrigation systems to grow crops, particularly the fruits in the European market.
The progress in the Rest of world is forecasted to grow at a steady pace due to the expansion of the agricultural sector in countries such as Argentina and Brazil in South America.
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