Global Drip Irrigation Market Overview
The key driver impacting the drip irrigation market is the rapidly growing global population, which leads to high demand for massive cultivation of agricultural crops to fulfill the growing food need. This necessitates the utilization of drip irrigation systems by farmers to provide high yield with a limited water supply and hence boosting the market growth in the forecast period. For instance, According to the World Population datasheet, the global population is expected to reach 9.9 billion by 2050, a boost of more than 25% from the present 2020 population of 7.8 billion. Food demand is probable to augment approximately 59% to 98% by 2050. Moreover, rising greenhouse vegetable production and the growing water scarcity worldwide are also estimated to be a significant determinant that adds growth to the market.
According to Value Market Research, the global drip irrigation market was valued at around USD 5500 million in 2027 and is estimated to grow at a CAGR of about 10% during the forecast period of 2021 to 2027.
The rising government initiatives to encourage the use of drip irrigation systems and subsidy programs to help farmers purchase agricultural machinery and systems at minimum interest rates are estimated to improve market demand in the forecast period. for instance, On 1st July 2015, the Indian government launched Pradhan Mantri Krishi Sinchai Yojana (PMKSY) with the motto of ‘Har Khet Ko Paani’ to give end-to-end solutions in the irrigation supply chain viz. distribution network, water sources, and farm-level applications. PMKSY accepted State level planning and projectised implementation that permit sates to prepare their irrigation development based on state irrigation plans and district irrigation plans. however, the high initial cost of large-scale drip irrigation systems may hamper the global drip irrigation industry in the long run. also, the cost incurred in system maintenance is negatively impacting the growth of the market. the current industry trends, such as the rising adoption of precision agriculture and sustainable practices, advancement in health care infrastructure, and technological advancements in drip irrigation systems, are expected to provide valuable market opportunities for the global market players.
The drip irrigation market is vast, with many local and global players. the key leaders follow several strategies to improve their market position, such as acquisitions, mergers, expansions, product innovations, and extending product portfolio, to enhance their market share globally. for instance, in June 2020, lindsay corporation declared the acquisition of net irrigate, LLC (US). It is an agriculture Internet of Things (IoT) technology corporation that offers solutions for remote monitoring to irrigation customers. The purchase would help the company to improve its irrigation technology offering. The key players included in the report Netafim limited, Jain Irrigation System Limited, The Toro Company, Driptech Incorporated, Lindsay Corporation, Rain Bird Corporation, Eurotrip S.AEPC Industries Limited, Microjet Irrigation Systems, and Rivulus Irrigation.
In this research report, the drip irrigation market is segmented by component, crop type, application, and region.
Analysis by Component:
By component, the report is categorized into emitters, pressure gauge, drip tube, valves, filters, and others. The emitters segment dominates the component segment with a 20% market share in 2020. Drip irrigation emitters are small plastic devices that attach to the tubing to discharge water into the soil. It dominates due to the high availability of various emitters as per the user’s requirement and rising usage in decreasing and regulating the amount of water released in the field. Moreover, rising government subsidies and high demand for low-cost emitters contribute to the emitters segment's growth in the forecast period.
Analysis by Crop Type:
By crop type, the report is categorized into field crops, fruits & nuts, vegetable crops, and other crops (turf, ornamental, and spice crops). The field crop type segment dominates the crop type segment with a 70% market share in 2020. It is due to the growing importance of drip irrigation among field crop growers for its precise application to the crops. Numerous benefits associated with the drip irrigation system, such as reduced costs, higher profit margins, and lesser water and fertilizer requirements, are also driving the field crop segment in the forecast period. Moreover, the growing adoption of drip irrigation systems in field crops such as vegetables, orchard crops, corn, sugarcane, and cotton contributes to the vast market demand in the forecast period.
Analysis by Applications:
By application, the report is categorized into agriculture, landscape, greenhouse, and others. The agriculture segment dominates the application segment with a 60% market share in 2020. It is due to a growing demand for food globally, and the vast adoption of the drip irrigation system in the agriculture field with limited water resources is driving the agriculture segment in the forecast period. Moreover, growing agricultural activities in emerging nations such as India, China, and Brazil, etc., is contributing to the vast market demand in the agriculture sector during the forecast period.
Analysis by Region:
In the regional outlook of the global drip irrigation market, the Asia Pacific region dominates with a 30% market share during the forecast period. The rapidly expanding agriculture sector across India, China, and South Korea made the Asia Pacific one of the largest consumers of drip irrigation systems in the forecast period. The growing government initiatives towards sustainable development goals also add growth to the Asia pacific drip irrigation market. Moreover, the huge population growth across China and India gives rise to the demand for more food, and technology adoption to improve food production contributes to the development of the drip irrigation market across North America.
Market Segmentation covered in the Report:
By Crop Type
- Pressure Gauge
- Drip Tube
- Field Crops
- Fruits & Nuts
- Vegetable Crops
- Other Crops (turf, ornamental, and spice crops)
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.