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Global Drip Tape Market is expected to grow at a CAGR of 14.19% during the forecast period from 2019-2025
Global Drip Tape Market 2019, Global Drip Tape Market Growth, Global Drip Tape Market Trends and Analysis, Global Drip Tape Market
Drip Tape Market by Type (Labyrinth, Inner Inlay), Application (Indoor Drip Irrigation, Orchard Drip Irrigation, Field Drip Irrigation), Region and Global Forecast 2019-2026.
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Prominent companies in the industry include Netafim Irrigation India Pvt. Ltd., TORO, Rain Bird, Irrigation Systems Ltd., Valmont Industries, Doncarb Graphite, Lindsay Corporation, Nelson Irrigation, John Deere, Hunter Industries, RivulisIrigation, Mahindra EPC, T-L Irrigation, Dayu Water-Saving, Yasheng, Luckrain, and Qinchuan Water-Saving are offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share.
Type segment includes labyrinth and inner inlay. The labyrinth segment dominated the global drip tape market with USD 73.68 million in 2018. The popularity of labyrinth tapes because of their clogging resistance which helps in avoiding additional maintenance costs will drive market growth in this segment. Application segment covers indoor drip irrigation, orchard drip irrigation, and field drip irrigation. The indoor drip irrigation segment is anticipated to grow with highest CAGR 15.04% during the forecast period owing to increased awareness of the advantages of drip tape for agricultural use.
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Growing popularity of drip tapes, increasing adoption of single-use drip tapes among farmers, and increasing popularity of drip tapes that prevent soil suction are the key driving factors for the drip tape market. The drip tapes are mostly for short duration crops and are very light weight may limit the growth of market. However, growing popularity of greenhouse farming practice is expected to boost the drip tape market over the forecast period.
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