Surging demand for the effective automated irrigation system and rise in initiatives taken by governments across the globe regarding water conservation is expected to drive drip irrigation market growth.
According to a recent analysis by Emergen Research, the Global Drip Irrigation Market size is expected to reach USD 11.25 Billion in terms of revenue from USD 5.22 Billion in 2019, delivering a CAGR of 10.7% through 2027. The market growth is driven by growth in the global population and the associated need for optimizing agricultural productivity.
Governments across the globe are introducing several programs and subsidies to support the adoption of drip irrigation for agricultural purposes. Favorable government initiatives in Europe to reduce water scarcity in regional countries are fuelling the demand for drip irrigation systems. Increasing focus on enhancing crop productivity and decreasing usage of fertilizers is boosting the utilization of advanced irrigation systems on a large scale, which will offer lucrative scope for drip irrigation industry expansion.
The rising growth of greenhouse vegetable production is expected to drive market growth over the forecast period. The water scarcity in several countries is restraining greenhouse vegetation production to a certain extent. This will be a major factor for the massive adoption rate of drip irrigation by farmers. In addition, the growing trend of greenhouse vegetable production will foster drip irrigation market size through 2027.
Key Highlights From Report
- Based on application, the surface drip irrigation sub-segment accounted for nearly 64.9% of the market share in 2019 and is expected to make significant revenue contribution through 2027 on account of high-water distribution uniformity and cost-effectiveness of surface drip irrigation system.
- On the basis of crop type, the orchard sub-segment is projected to showcase the fastest growth rate of nearly 11.6% over the analysis period. The rising cultivation and exports of fruits and nuts from the APAC region are expected to boost drip irrigation adoption across several countries.
- Based on component, the emitters sub-segment held a major chunk of the global drip irrigation market share in 2019 and is expected to gain traction through 2027 on account of the massive installation of inline emitters for cutting down costs on additional emitters deployment.
- In the regional landscape, the APAC region is expected to be the fastest-growing market for drip irrigation during the analysis period on account of the rising adoption of precision irrigation systems for the technological up-gradation of the traditional irrigation system across the region.
- Key players contributing towards the global drip irrigation market share are The Toro Company, Jain Irrigation Systems Ltd, Lindsay Corporation, Rain Bird Corporation, Rivulis Irrigation Ltd, Netafim Ltd, Hunter Industries, Chinadrip Irrigation Equipment Co. Ltd., MAHINDRA EPC LTD., and Elgo Irrigation Ltd., among others.
- In February 2019, Rivulis, an Israel-based irrigation solutions supplier, announced plans to expand its global footprint with the establishment of a new manufacturing facility in Guanajuato, Central Mexico. The new manufacturing plant is likely to become the largest drip irrigation manufacturing site in the Americas.
Emergen Research has segmented the Global Drip Irrigation Market based on application, crop type, component, and region:
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Subsurface drip irrigation
- Surface drip irrigation
- Crop Type Outlook (Revenue, USD Billion; 2017-2027)
- Vegetable crops
- Field Crops
- Orchard Crops
- Other crops
- Component Outlook (Revenue, USD Billion; 2017-2027)
- Drip Tubes
- Pressure Pumps
- Fittings & Accessories
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/drip-irrigation-market