Drip Irrigation Market Overview by Business Prospects and Forecast 2030
Drip Irrigation Market Overview
Global Drip Irrigation Market is expected to register a CAGR of 12.20% from 2022 to 2030 and reach USD 13.19 billion by the end of 2030.
Market Dynamics
The use of drip irrigation eliminates issues such as water plugging, which is commonly produced by flood irrigation. These reasons are propelling the global drip irrigation market overview forward. Governments in many countries across the world are encouraging farmers to install drip irrigation systems by giving subsidies, which is projected to drive the global drip irrigation market forward. Furthermore, increasing the efficiency with which fertilizers are used helps lower the expenses associated with them. This is expected to boost the market's growth. Due to water losses due to evaporation, farmers across the country choose drip irrigation systems over surface irrigation.
Over the projected period, rising global usage of drip irrigation systems is predicted to boost demand for worldwide drip irrigation systems. The fast increase in population has resulted in an increase in agricultural product demand, which has stimulated the need for agricultural commodities that can be grown with fewer resources. Over the projection period, the capacity of drip irrigation systems to give improved output with restricted water availability is likely to increase demand for worldwide drip irrigation systems. Furthermore, governments all around the world are taking the lead by offering incentives in various regions to encourage the adoption of drip irrigation systems. Furthermore, increased agricultural activities in emerging nations such as India, Brazil, and others are likely to boost drip irrigation system demand throughout the projection period.
The high initial investment cost associated with constructing a global drip irrigation system, on the other hand, is predicted to function as a restrictive factor, stifling the worldwide drip irrigation system market's expansion throughout the projected period. The COVID-19 pandemic has had a large worldwide impact, with grave effects for various businesses. Despite difficult conditions, drip irrigation firms throughout the world have continued to operate. Multiple shocks, such as economic limits, supply chain disruptions owing to travel restrictions, and labor shortages, have all had an influence on service delivery.
Competitive Analysis
Rivulis Irrigation Limited (Israel), Harvel Agua (India), Antelco Pty Ltd (Australia), Irritec S.p.A (Italy), Chinadrip Irrigation Equipment Co. Ltd (China), Kothari Agritech Private Limited (India), Jain Irrigation Systems Limited (India), T-L Irrigation Company (India), Lindsay Corporation (US), EPC Industrie (India), Nelson Irrigation Corporation (US), Netafim Ltd (Israel), DripWorks, Inc. (US), The Toro Company (US), and Microjet Irrigation Systems (South Africa), are some of the major key players operating in the global drip irrigation market.
Segmental Analysis
The global drip irrigation market overview has been segmented based on emitter type, application technique, end use, and region.
Based on emitter type, the market has been classified as inline emitters and online emitters.
In terms of application technique, the global market has been bifurcated into surface and subsurface.
On the basis of end use, the market has been divided into field crops, orchard crops, plantation crops, landscape crops, and others.
Regional Analysis
The drip irrigation market size in the world is predicted to be dominated by Asia-Pacific. Agriculture is the principal occupation of a major portion of the people in this region; hence, the market in this area is expected to grow at the fastest rate throughout the projected period. Furthermore, the region's drip irrigation market is expected to develop due to an increase in the use of new farming methods and an increase in agricultural operations. APAC is likely to retain its dominance during the projection period, owing to rising demand for worldwide drip irrigation systems from different applications in growing economies such as India, China, and South Korea. China is predicted to have the highest CAGR among the APAC nations over the predicted period. Asia Pacific is likely to be followed by North America. Drip irrigation manufacturers and distributors are also targeting markets like China and India, which have a big agriculture sector driven by regional demand and exports, and are embracing drip irrigation services.
Because of the rise of the agriculture business, North America is likely to have a major share of the market over the study period. Furthermore, increased farmer knowledge of the benefits of drip irrigation is expected to help the drip irrigation industry's growth in the region.
During the projected period, Europe is likely to keep the third position in the global drip irrigation system market. In the future years, the worldwide drip irrigation system market is expected to increase moderately in the rest of the world (ROW). The remainder of the globe market is predicted to grow at a stable CAGR as demand for drip irrigation systems rises in nations such as Argentina and Brazil in South America as agricultural activities increase.
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