The global drip irrigation market accounted for USD 6.7 billion in 2019. The drip irrigation market is estimated to register growth at a CAGR of 9.8% during forecast period.
COVID-19 has impacted many businesses across the globe significantly. The pandemic have serious impacts on food industry. The irrigation sector provides jobs to many people across rural areas, it has made farmers shift to water saving sustainable practices, it allows production of critical systems and provides livelihood to poor people worldwide. The unavailability of labor has contributed in decline of market growth. The delivery of services and supply chains has been disrupted due to lockdown and certain restriction of travel. This drip irrigation system will foresee decline during the forecast period due to global pandemic.
For more details, visit: Global Drip Irrigation Market By Crop Type (Field Crop, Vegetable Crops, Others), By Components (Pressure Pumps, Drip Tubes, Others), By Application (Surface , Sub Surface), By Region– Forecast & Opportunities to 2026
The popularity of drip irrigation systems are increasing worldwide. Farmers are adopting drip irrigation as it helps in water conservation, decreases production cost and enhances production. The large scale adoption of drip irrigation system worldwide drives growth in this sector during the forecast period.
On the basis of crop type, the drip irrigation market is segmented into field crop, vegetable crops, fruits & nuts and other crops. The field crop segment expected to hold largest market share during the forecast period. The adoption of drip irrigation system has been increasing in field crops worldwide. The drip irrigation reduces costs, water consumption, fertilizers consumption, and improves profit margins in field crops thus, it is widely adopted by various regions around the world. Drip irrigation in growing orchard crops, corn, cotton, sugarcane, turf & lawns and vegetables, is very beneficial and profitable for farmers. Thus, drives growth in field crops segment in drip irrigation during the forecast period.
On the basis of components, the drip irrigation market is segmented into pressure pumps, drip tubes, emitters and others. The drip tubes segment is estimated to hold highest market share in irrigation market during forecast period. The drip tubes are more effective and efficient but they are expensive. All its advantages are likely to drive growth in this segment during the forecast period.
On the basis of application, the drip irrigation market is segmented into surface and sub surface. The surface drip irrigation system is estimated to register growth at highest CAGR during the forecast period. The demand for cash crops increasing worldwide and the cost is also increasing due to which the demand for surface drip irrigation is increasing. This system enhances agriculture production and it is widely used for vegetable crops, annual row crops and perennial crops irrigation. All these factors are driving growth in surface drip irrigation segment.
Asia-Pacific region is estimated to hold highest market share during the forecast period. There is growth in adoption of precision irrigation systems in Asia-Pacific region. There is a wide shift in this region from installation of basic irrigation systems to advanced irrigation systems due to advancement in technology. Farmers are growing more commercial crops due to which sustainable irrigation facilities are required thus, drives growth in Asia-Pacific region in drip irrigation market during the forecast period.
The key market players in drip irrigation systems are Lindsay Corporation, The Toro Company, Jain irrigation systems, Netafim Ltd., Chinadrip Irigation Equipement, Rain Bird Corporation, Elgo Irrigation Ltd., Shanghai Huawei Water Saving Irrigation Corporation, Antelco Pty Ltd., EPC Industries, Metzer Group, Dripworks Inc, Sistema Azud, Microjet Irrigation and KSNM Drip. The key market players are focusing on new product launces and adopting startegiest of mergers, acquisitions, agreements and collaborations in order to strengthen their market positions.
- What are the expected industry trends over the next three to five years?
- Which of the drip irrigation crop type is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?