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  • Drip Irrigation Market is projected to grow at a CAGR of 11.60% by 2022




    (Transportation-News.com, May 17, 2018 ) The global drip irrigation market is projected to grow at a CAGR of 11.60% from 2017, to reach USD 6.54 Billion by 2022. In terms of area, the global drip irrigation market is estimated to be adopted across 16.8 Million hectares in 2017; this is projected to grow at a CAGR of 8.33% from 2017, to reach 25.1 Million hectares. Drip irrigation offers several advantages to farmers such as increase in per crop yield, improved & efficient use of water & fertilizers, and reduced production cost, which have together resulted in an increase in the usage of drip irrigation.

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    On the basis of emitters, the inline emitters segment is projected to grow at the highest CAGR from 2017 to 2022. Less labor requirement and their compatibility in terms of both surface and subsurface irrigation have led to the increase in demand for inline emitters.

    On the basis of crop type, the field crops segment accounted for the highest adoption of drip irrigation in 2016; the use of drip irrigation in field crops results in increased yield, higher quality & uniformity, and reduced production costs along with the increase in prices of field crops, which fueled the market for drip irrigation in this segment.

    On the basis of component, the drip tubes/drip lines segment is projected to grow at the highest CAGR in the global drip irrigation market from 2017 to 2022. The increase in demand for drip tubes/drip lines is attributed to the continuous need to replace drip tubes after a period of two to three years as compared to that of other components.

    The Asia-Pacific region is projected to be the fastest-growing market for drip irrigation between 2017 and 2022. The Asia-Pacific market also accounted for the highest adoption of drip irrigation in 2016 due to increased awareness and notable support from government through incentives and subsidies.

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    The drip irrigation market is still evolving with several manufacturers that are involved in developing lateral and emitter materials to eliminate the limitations caused by algal growth, root encroachment, and rodent infestation. High initial investment and regular maintenance are considered to have a negative effect in the growth of the market owing to factors such as the uncertainty of the climate and crop prices limiting farmers final margins.

    Key players identified in the global drip irrigation market include Jain Irrigation Systems Limited (India), Netafim Limited (Israel), Eurodrip S.A. (Greece), Rain Bird Corporation (U.S.), Rivulis Irrigation Limited (Israel), and The Toro Company (U.S.) which are among the key players of the drip irrigation market as these are well-established and financially stable players that have been operating in the industry for several years. Most key participants have been exploring new regions through expansions, investments, new product launches, and acquisitions across the globe to avail a competitive advantage through combined synergies.

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