Drip Irrigation Market Poised to Grow at a CAGR of 12% by 2024
Infinium Global Research has added a new report on Drip Irrigation Market.
The report presents analysis of global as well as regional markets of drip
irrigation market over the period of 2016 to 2024. Drip irrigation is a type of
micro irrigation system that is likely to save water and nutrients by allowing
water to drip slowly to the roots of the plants either from above or buried
below soil surface. It is the most effective method for using minimum quantity
of water for higher yield. This system distribute water through pipes,
emitters, valves and tubing. Drip irrigation allows poor farmers to utilize
minimal quantities of water and cultivate home gardens and other land
production of food required for the family and some for trade. Proper
installation and management of this system can help in considerable
preservation of water by controlling evaporation and drainage. It can control
soil erosion and can be used efficiently for all soil types.
Prompt upsurge in population results in the growing
demand of the agricultural product with limited resources and increasing need
for water conservation mostly in unfertile regions are boosting the growth of
the drip irrigation market. Additionally, agricultural irrigation segment is
expected to hold the largest market share followed by greenhouse irrigation
over upcoming years due to increasing water scarcity and growing adoption of
irrigation tools in agricultural sector, which in turn, are driving the growth
of drip irrigation market. Further, capacity of drip irrigation system for
delivering improved yield with limited water supply and Small-scale farmers
putting emphasis on applying these systems in order to upsurge crop yields by
utilizing minimum water is again driving the growth of the market. Moreover,
government enthusiasm of providing subsidies for drip irrigation and growing technological
advancements in micro irrigation systems are some major factors fuelling the
market growth. Besides this, the less water consumption ability and rising
trend of sustainable irrigation methods is encouraging the adoption of drip
systems to a large scale. However on the contrary, high initial investment cost
related with installing drip irrigation system is anticipated to act as the
restraining factor that affects the growth of the global drip irrigation system
market. Among the geographies, Asia Pacific region dominates the market growth
followed by North America and Europe region. In Asia Pacific region growing
consciousness and prominent support from government through incentives and
subsidies are driving the market growth. Further, increasing need for food
production capacity with the less use of water is also driving the growth of
this market in Asia Pacific region. In North America region, factors such as
advancement in technology is boosting the growth of drip irrigation market.
Europe region have compact cultivable land owing to growing industrialization
government of European countries are taking initiatives to encourage drip
irrigation system in farms to enhance the crop yield. Moreover, the growth
matrix presented by Infinium Global Research identifies the key investment
markets in the near future, this will not only help the companies to understand
the competitive position in the global drip irrigation market but also make
strategic decisions to capture the most lucrative markets in the near future.
The market size is presented in terms of value for the historic year 2016 and
estimated for forecast period of 2018-2024.
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The recent report identified that Asia Pacific
dominated the global drip irrigation market over the last couple of years,
while emerging markets of Asia-Pacific and Latin America are anticipated to
contribute significantly to the growth in the drip irrigation market worldwide.
The report segments the global drip irrigation market
on the basis of Components, Crop type and Application.
Global Drip Irrigation Market by Components
Global Drip Irrigation Market by Crop Type
Fruits & Vegetables
Cereals & Pulses
Turf & Ornamentals
Oilseeds & Pulses
Global Drip Irrigation Market by Application
Companies Profiled in the Report
The Toro Company
Hunter Industries Incorporated
Rain Bird Corporation
Chinadrip Irrigation Equipment Co.,
Antelco Pty Ltd
Rivulis Irrigation Ltd.
Elgo Irrigation Ltd.
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