The global drip irrigation market size is projected to reach USD 9.37 billion by the end of 2026. Theincreasing number of farming activities will bode well for the market in thecoming years. According to a report published by Fortune Business Insights,titled “Drip Irrigation Market Size, Share & Industry Analysis, ByComponent (Emitters, Drip Tubes/Drip Lines, Pressure Pumps, Filters, Valves,and Others), Crop Type (Field Crops, Orchard Crops, Landscape & Turf, andOthers), Application (Surface and Subsurface), and Regional Forecast, 2019 –2026,” the market was worth USD 4.63 billion and will exhibit a CAGR of9.3% during the forecast period.
IncreasingNumber of Product Launches Will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of themarket in recent years. The increasing number of product launches has emergedin favor of market growth. Due to the constantly rising demand for dripirrigation systems across the world, several companies are looking to investhugely in the development of advanced concepts. The adoption of moderntechnologies has yielded a few exceptional products in recent years. In August2019, Rivulis Irrigation announced the launch of a new product for dripirrigation system. The company introduced ‘Manna,’ a satellite based softwaresolution which will be used in drip irrigation systems across the country. Thecompany’s latest product will have a massive impact on the growth of theoverall market in the coming years.
AsiaPacific to Emerge Dominant; Increasing Agricultural Activities to Aid Growth
The report analyzes the ongoing drip irrigation market trends across North America,Latin America, Asia Pacific, the Middle East and Africa, and Europe. Amongthese regions, the market in Asia Pacific is likely to generate the highestrevenue in the coming years. The increasing number of farming and agriculturalactivities in several countries across this region will aid the growth of themarket. As of 2018, the market in Asia Pacific was worth USD 2.08 billion andthis value is likely to increase further in the coming years.
BrowseComplete Report Summary@ https://www.fortunebusinessinsights.com/drip-irrigation-market-102684
A few ofthe leading companies that are currently operating in the global marketinclude:
- 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.
IndustryDevelopments:
November2019: Thegovernment of Tamil Nadu, India, announced an increase in the subsidy amountfor farmers who are engaged in drip irrigation-based sugarcane farming.
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Dripirrigation is used across several agricultural practises for water distributionpurposes. The ability of a drip irrigation system to minimize water wastage aswell as maximize the amount of nutrient consumed by the crops, is a majorfactor why this concept has gained massive popularity in recent years. Themassive investments in the R&D of new products will constitute an increasein the overall drip irrigation market size in the coming years. The presence ofnumerous agricultural subsidies will contribute to the growing adoption of dripirrigation systems across the world. Moreover, the emphasis on adoption ofsustainable farming and agricultural practises will aid the growth of themarket. The growing demand for a highly efficient agricultural produce willcreate a subsequent demand for drip irrigation systems across the world.
