The research report “Global Drip Irrigation Market By Crop Type (Fruits & Nuts, Field Crops, Vegetable Crops, Other Crops), By Component Type (Pressure Pumps, Drippers/Emitters, Drip Tubes/Drip Lines, Filters, Fertigation Equipment, Valves, Fittings & Accessories)), By Drippers/Emitters (Online, Inline), and Geography – Global/Region/Country Forecast to 2027″, The Global Drip Irrigation Market was valued at USD 6.2 Billion in the year 2020 and is expected to grow at USD 11.48 Billion till 2027 recording a CAGR of 9.2% for the forecast period 2021-2027.
Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on ” Global Drip Irrigation Market: By Crop Type (Fruits & Nuts, Field Crops, Vegetable Crops, Other Crops), By Component Type (Pressure Pumps, Drippers/Emitters, Drip Tubes/Drip Lines, Filters, Fertigation Equipment, Valves, Fittings & Accessories)), By Drippers/Emitters (Online, Inline), and Geography – Global/Region/Country Forecast to 2027″,
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Growing demand for High scale production to drive the Drip Irrigation Market growth
The global population is increasing hugely over the years and consequently there is growing demand for food production. But there is availability of fewer resources like land and water and the demand for huge scale production is increasing. Very less land is available to grow food hence, government of various countries started subsidies on drip irrigation system for obtaining the advantages of the drip systems for rips, which will increase the crop yield and reduce the water wastage.
There are several leading factors that drive the market growth such as increasing demand for huge scale production with restricted sources as well as subsidies provided by the government for encouraging farmers for drip irrigation systems. Furthermore, the advantages like low wastage of water as compared to sprinkle, furrow systems as well as technological developments in drip irrigation systems and 95% water usage by the crop drive the drip irrigation market growth over the forecast time period. On the other hand, high price and availability of other irrigation system alternatives can hinder the market growth.
Asia Pacific became the huge market revenue obtainer in Global Drip Irrigation Market
Asia Pacific obtained huge market revenue share in the market recording substantial CAGR due to the increasing awareness amid farmers about the advantages of drip irrigation systems and availability of more land in the region, which is to be cultivated under drip irrigation provides several opportunities for the emerging countries of this region such as India and china. Europe comes at second place in the drip irrigation market due to the presence of a number of key players operating in the region and subsidies provided for farmers by the government in the region on buying of drip irrigation systems. Both these factors greatly enhance the market growth in Asia Pacific region. Israel is also witnessing substantial market growth and getting revenue share by augmenting the exports to other countries, which account nearly 30% of the entire revenue of the market.
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Competition Assessment
Key players in the market are launching new products to strengthen their place in the market. There are a number of leading key players working in the Global Drip Irrigation market, which include Netafim Limited (Israel), EPC Industries Limited (India), Rivulis Irrigation Limited (Israel), Antelco Pty Ltd (Australia), Jain Irrigation Systems Limited (India) and Shanghai p Water Saving Irrigation Corp., Ltd. (China).
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