COVID-19:DRIP IRRIGATION MARKET TO REACH USD 10.6 BILLION BY 2027 | CAGR 10.1% — FORENCIS RESEARCH
Global Drip Irrigation Market: Key Highlights
- According to the new market research report “Drip IrrigationMarket by Type (Surface Drip Irrigation, Sub Surface Drip Irrigation), by ComponentEmitter, Pressure Gauge, Drip Tube, Filter, Valve, Others), by Crop Type (Fruits & Vegetables, Cereals & Pulses, Oilseeds, Turf & Ornamentals, Other Crops), by Application (Agriculture, Landscape, Greenhouse, Others),by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global drip irrigation market is estimated to reach USD 10.6Billion by 2027 at a CAGR of around 10.1% during the review period.
- Drip irrigations also knewas a trickle, an efficient technique used for dripping water into soil surface and root of the plant by a filtering process.
- Precise and efficient water management, use of fewerfertilizers, and water-saving with a high yield of crops are some of the fundamental advantages of drip irrigation.
- Drip irrigation is imperatively used for crops like tomatoes, coconut, strawberries, bananas, citrus, eggplant, cotton, maize, sugarcane and others.
Global Drip Irrigation Market: Key Market Dynamics
- Increasing government support through various programs and subsidiaries to promote adoption of drip irrigation which isexpected to drive the drip irrigation market
- Rising concern over increasing agriculture yield coupled with benefits offered by micro-irrigation system has anticipated propelling the market growth
- Higher initial investment and higher maintenance cost associated with drip irrigation system may hamper the growth during the forecasted period
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Global Drip Irrigation Market: Regional Overview
- North America
North Americais anticipated to witness prominent growth in drip irrigation market owing to rising irrigation practices across the U.S. Increasing focus to produce higher crop yield by using least resources coupled with technological innovations in irrigation sector has been the primary drivers for the growth of the market in the region. Additionally, rising demand for agriculture products due to increasing population, government subsidiaries, and decreasing water wastage in various countries haveattributed the growth in the region.
Asia-Pacific is anticipated todominate the growth in drip irrigation market during the forecasted period. This is attributed tothe presence of irrigated areas within the region and increasing adoption of micro-irrigation across the economies such as India and China. Rising technological up-gradation in the agriculture industry coupled with rising awareness regarding modern farming techniques and irrigation systems and government subsidiaries for drip irrigation installation has expected to drive the growth of the product in the region. Moreover, presence of well-established market players such as Jain Irrigation System Ltd, and Chinadrip Irrigation Equipment Co., Ltd coupled with an increasing number of players haveexpected to further boost the growth of the market in the region.
Global Drip Irrigation Market: Key Players Overview
- Lindsay Corporation:
Lindsay Corporationis is one of the leading manufacturers of irrigation and infrastructure products and services. The company operates through two broad segments including irrigation, and infrastructure. FieldNET, FieldNET Advisor, FieldNET Pivot Watch, Zimmatic, Barrier Systems, Road Zipper, Snoline, WireRat and CircleScout are trademarks or registered trademarks of Lindsay Corporation. In July 2020, the company acquired Net Irrigate, LLC, an agriculture Internet of Things technology company which provides remote monitoring solution for irrigation customer. This acquisition will help Lindsay Corporation in delivering innovative real-world solution to help farmers increase water & energy efficiency through irrigation systems.
- The Toro Company:
The Toro Companyis a US-based company engaged in providing innovative solution for outdoor environment. The company has a strong network of professional distributors, dealers, retail stores, and retailers located in more than 125 countries across the globe. Ditch Witch, Exmark, Boss, American Augers, Ventrac, Subsite Electronics, HammerHead, Trencor, Unique Lighting Systems, Irritrol,Hayter, Pope, Lawn-Boy, and Radius are brands of the company through which it offers a wide range of product portfolio. In May 2020, The Toro Company launched clog-resistant drip tape, Toro Aqua-Traxx Azul drip tape. This tape will offer filter inlet design and optimized flow passages which will pass through debris to maximize clog resistance and product performance.
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