Jul 7, 2020 3:46 PM ET
iCrowd Newswire – Jul 7, 2020
Global Drip Irrigation Market is projected to register a CAGR of 10.3% from 2019 to 2024 and reach a market value of USD 7.9 Billion by 2024. Drip irrigation is a method of irrigation, in which water is supplied to the roots of plants at a slower pace as compared to that of other irrigation methods. This method of irrigation offers several benefits such as reduced usage of fertilizers and water, increased crop yield, elimination of water logging caused by flood irrigation, and equal distribution of water to all crops in the field. Rising awareness about the benefits of drip irrigation and increasing adoption of modern farming practices are projected to fuel the growth of global drip irrigation market.
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- Rivulis Irrigation Limited (Israel),
- T-L Irrigation Company (India),
- Lindsay Corporation (US),
- EPC Industrie (India),
- Nelson Irrigation Corporation (US),
- Harvel Agua (India),
- Antelco Pty Ltd (Australia),
- Irritec S.p.A (Italy),
- Chinadrip Irrigation Equipment Co. Ltd (China),
- Kothari Agritech Private Limited (India),
- Jain Irrigation Systems Limited (India),
- Netafim Ltd (Israel),
- DripWorks, Inc. (US),
- The Toro Company (US)
- Microjet Irrigation Systems (South Africa)
Global Drip Irrigation Market has been segmented based on emitter type, application technique, end use, and region.
Based on emitter type, the market has been segregated into inline emitters and online emitters. The inline segment emitters are anticipated to account for a larger share of the market and expand at a high CAGR during the forecast period owing to considerable demand from farmers. Inline emitters are pre-installed, and hence they save a considerable amount of labor cost, which is expected to boost their demand during the study period.
On the basis of application technique, the drip irrigation market has been bifurcated into surface and sub-surface. The surface segment is expected to constitute a larger market share and expand at a higher CAGR during the review period due to substantial demand for the irrigation of vegetable crops and perennial crops.
Based on end use, the global drip irrigation market has been classified into field crops, orchard crops, plantation crops, landscape, and others. The field crops segment is projected to expand at high CAGR during the forecast period due to increasing awareness among farmers about the various benefits offered by drip irrigation for the cultivation of field crops, such as equal and precise distribution of water and increased efficacy of fertilizers.
In terms of region, Global Drip Irrigation Market has been divided into North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the global market, as agriculture is a primary occupation in several countries in the region. Moreover, rising demand for food has resulted in the necessity to increase the productivty, which is expected to propel the growth of the drip irrigation market in the region. North America is expected to account for a significant market share during the review period owing to the rapid expansion of the agricultural industry. Growing awarenss among farmers about sustainable farming practices and high demand for drip irrigation sysatems to increase cultivation,especialy of fruits drives the market in Europe.
The market in the rest of the world is expected to grow at a steady rate due to the expansion of the agricultural industry in countries such as Argentina and Brazil in South America.
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