Drip Irrigation Market Increasing Number of Working Populations till 2026, Fortune Business Insights
The global drip irrigation market size isprojected to reach USD 9.37 billion by the end of 2026. The increasing numberof farming activities will bode well for the market in the coming years.According to a report published by Fortune Business Insights, titled “DripIrrigation Market Size, Share & Industry Analysis, By Component (Emitters,Drip Tubes/Drip Lines, Pressure Pumps, Filters, Valves, and Others), Crop Type(Field Crops, Orchard Crops, Landscape & Turf, and Others), Application(Surface and Subsurface), and Regional Forecast, 2019 – 2026,” the market wasworth USD 4.63 billion and will exhibit a CAGR of 9.3% during the forecastperiod.
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Drip irrigation is used across several agricultural practises for waterdistribution purposes. The ability of a drip irrigation system to minimizewater wastage as well as maximize the amount of nutrient consumed by the crops,is a major factor why this concept has gained massive popularity in recentyears. The massive investments in the R&D of new products
will constitute an increase in the overall drip irrigation market sizein the coming years. The presence of numerous agricultural subsidies willcontribute to the growing adoption of drip irrigation systems across the world.Moreover, the emphasis on adoption of sustainable farming and agriculturalpractises will aid the growth of the market. The growing demand for a highlyefficient agricultural produce will create a subsequent demand for dripirrigation systems across the world.
A few of the leading companies that are currently operating in theglobal market include:
· Lindsay Corporation
· Jain Irrigation Systems Ltd.
· Rivulis Irrigation Ltd.
· Rain Bird Corporation
· Sistema Azud
· Netafim Limited
· The Toro Company
· Elgo Irrigation Ltd.
· Chinadrip Irrigation Equipment Co.Ltd.
· Metzer Group
· Antelco Pty Ltd.
Increasing Number of Product Launches Will Provide Impetus to MarketGrowth
The report encompasses several factors that have contributed to thegrowth of the market in recent years. The increasing number of product launcheshas emerged in favor of market growth. Due to the constantly rising demand for drip irrigation systems across the world, severalcompanies are looking to invest hugely in the development of advanced concepts.The adoption of modern technologies has yielded a few exceptional products inrecent years. In August 2019, Rivulis Irrigation announced the launch of a newproduct for drip irrigation system. The company introduced ‘Manna,’ a satellitebased software solution which will be used in drip irrigation systems acrossthe country. The company’s latest product will have a massive impact on thegrowth of the overall market in the coming years.
AsiaPacificto Emerge Dominant; Increasing Agricultural Activities to Aid Growth
The report analyzes the ongoing drip irrigationmarket trends across North America, Latin America, Asia Pacific, the MiddleEast and Africa, and Europe. Among these regions, the market in Asia Pacificislikely to generate the highest revenue in the coming years. The increasingnumber of farming and agricultural activities in several countries across thisregion will aid the growth of the market. As of 2018, the market in AsiaPacific was worth USD 2.08 billion and this value is likely to increase furtherin the coming years.
November 2019: The governmentof Tamil Nadu, India, announced an increase in the subsidy amount for farmerswho are engaged in drip irrigation-based sugarcane farming.
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