Drip Irrigation Market Industry Trends, Size, Growth Insight, Share, Emerging Technologies, Share, Competitive, Regional, And Global Industry Forecast To 2026
The global drip irrigation market size is projected to reach USD 9.37 billion by the end of 2026. The increasing number of farming activities will bode well for the market in the coming years. According to a report published by Fortune Business Insights, titled “Drip Irrigation Market Size, Share & Industry Analysis, By Component (Emitters, Drip Tubes/Drip Lines, Pressure Pumps, Filters, Valves, and Others), Crop Type (Field Crops, Orchard Crops, Landscape & Turf, and Others), Application (Surface and Subsurface), and Regional Forecast, 2019 – 2026,” the market was worth USD 4.63 billion and will exhibit a CAGR of 9.3% during the forecast period.
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Drip
irrigation is used across several agricultural practises for water distribution
purposes. The ability of a drip irrigation system to minimize water wastage as
well as maximize the amount of nutrient consumed by the crops, is a major
factor why this concept has gained massive popularity in recent years. The
massive investments in the R&D of new products will constitute an increase
in the overall drip irrigation market size in the coming years. The presence of
numerous agricultural subsidies will contribute to the growing adoption of drip
irrigation systems across the world. Moreover, the emphasis on adoption of
sustainable farming and agricultural practises will aid the growth of the
market. The growing demand for a highly efficient agricultural produce will
create a subsequent demand for drip irrigation systems across the world.
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Complete Report Summary@ https://www.fortunebusinessinsights.com/drip-irrigation-market-102684
Increasing
Number of Product Launches Will Provide Impetus to Market Growth
The
report encompasses several factors that have contributed to the growth of the
market in recent years. The increasing number of product launches has emerged
in favor of market growth. Due to the constantly rising demand for drip
irrigation systems across the world, several companies are looking to invest
hugely in the development of advanced concepts. The adoption of modern
technologies has yielded a few exceptional products in recent years. In August
2019, Rivulis Irrigation announced the launch of a new product for drip
irrigation system. The company introduced ‘Manna,’ a satellite based software
solution which will be used in drip irrigation systems across the country. The
company’s latest product will have a massive impact on the growth of the
overall market in the coming years.
Asia
Pacific to Emerge Dominant; Increasing Agricultural Activities to Aid Growth
The
report analyzes the ongoing drip irrigation market trends across North America,
Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among
these regions, the market in Asia Pacific is likely to generate the highest
revenue in the coming years. The increasing number of farming and agricultural
activities in several countries across this region will aid the growth of the
market. As of 2018, the market in Asia Pacific was worth USD 2.08 billion and
this value is likely to increase further in the coming years.
A few of
the leading companies that are currently operating in the global market
include:
- Lindsay Corporation
- Jain Irrigation Systems Ltd.
- Rivulis Irrigation Ltd.
- Rain Bird Corporation
- Sistema Azud
- Netafim Limited
- The Toro Company
- Elgo Irrigation Ltd.
- Chinadrip Irrigation
Equipment Co. Ltd.
- Metzer Group
- Antelco Pty Ltd.
Industry
Developments:
November 2019: The government of Tamil Nadu,
India, announced an increase in the subsidy amount for farmers who are engaged
in drip irrigation-based sugarcane farming.
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