A new research report, published by Report Ocean, states that the global drip irrigation market is likely to witness significant progress in its valuation over the next few years. The report, titled “Global Drip Irrigation Market Size study by Component (EmittersDrippers, Pressure Pumps, Drip TubesDrip Lines, Valves, Filters and Fittings & Accessories), by Crop Type (Field Crops, Fruits & Nuts, Vegetable Crops and Others), by Application (Surface and Subsurface), by Emitter Type (Inline and Online) and Regional Forecasts 2020-2027,” is prepared after carrying out a thorough analysis of the market, taking its past and current performance in to consideration.
In 2019, the global drip irrigation market is reached a value of approximately US$5 bn. The study anticipates this market to rise at a CAGR of more than 10.80% over the period from 2020 to 2027.
One of the prominent issues that the world faces today is the water crisis. Due to the water crisis, the agriculture sector has been exposed to a lot of difficulties over years. In today’s time, traditional irrigation systems are outdated as much water gets wasted in conventional methods. Since drip irrigation saves water with the help of valve, pipe, tubing, and emitters that allow controlled water usage, it is increasingly being popular among farmers and agriculturists. Its efficacy on all soil types and competence in controlling soil erosion has fueled its demand substantially across the world.
The benefits of drip irrigation, such as better yield with limited water supply, are expected to boost the global drip irrigation market over the next few years. However, high initial cost incurred in setting up a large-scale drip irrigation system may limit the growth of this market in the near future. Nonetheless, increasing government subsidies over these systems is likely to add to this market during the period of the forecast, reports the study.
The key market players are focusing mainly on introducing new and innovative products in order to gain maximum visibility. For instance, the Toro Company introduced Toro Aqua-Traxx Azul drip tape in late 2019. This step of the company was aimed at gaining a competitive edge over its peers.
The research report also offers an in-depth regional analysis of market for bicycle tires across the world. According to it, the market is spread across Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Among these, Asia Pacific has acquired the leading position in the global market for drip irrigation. The increasing uptake of precision irrigation systems through technical upgrading has been boosting this regional market significantly. Researchers expect the Asia Pacific market for drip irrigation to maintain its lead over the period of the forecast, reports the market study.
Impact of Covid 19 on Global Drip Irrigation Market
The global agriculture industry is one of the worst-hit industries by Covid 19 across the world. The stoppage of work in the farm disrupted the overall ecosystem of the agriculture industry. The related markets, including the drip irrigation market, are also facing severe disturbance due to the pandemic.
- Asia Pacific has acquired the leading position in the global market for drip irrigation.
- Key market players are focusing on new product launches.
The global drip irrigation market is segmented into:
Drip Tubes/Drip Lines
Fittings & Accessories
By Crop Type
Fruits & Nuts
By End Use
Rest of the World
Companies Mentioned in the Report
- Jain Irrigation Systems Ltd.
- Lindsay Corp.
- The Toro Company
- Rivulis Irrigation Ltd.
- Hunter Industries Inc.
- Netafim Ltd.
- Rain Bird Corporation
- Chinadrip Irrigation Equipment Co. Ltd.
- Elgo Irrigation Ltd.
- Shanghai Huawei Water Saving Irrigation Corp. Ltd.
Company Name: Report Ocean
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