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Fuelling Market Growth: The Rising Demand for Agricultural Products Spurs Drip Irrigation Market || Lindsay Corporation, Jain Irrigation Systems Ltd., Rain Bird Corporation, Netafim Limited
Drip Irrigation Market
The Business Research Company's Drip Irrigation Global Market Report 2023 identifies the increasing demand for agricultural products is the major driver for the drip irrigation market's growth in the forecast period. Agricultural products refer to any raw or processed agricultural product, including those made from cattle or any agricultural commodity. Drip irrigation is used to deliver water and nutrients directly to the plant's root zone to increase crop yields through improved water and fertility management to meet the demand for agricultural products. For instance, in January 2022, according to an economic survey report 2021-22 shared by the government of India, a record 308.65 million tons of food grain are expected to be produced nationwide in 2020-21, an increase of 11.15 million tons from the production in 2019-20.
The global drip irrigation market is expected to grow from $5.90 billion in 2022 to $6.59 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global drip irrigation market is expected to grow to $10.05 billion in 2027 at a CAGR of 11.1%.
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Major competitors in the drip irrigation market are Lindsay Corporation, Jain Irrigation Systems Ltd., Rain Bird Corporation, Netafim Limited, The Toro Company, Elgo Irrigation Ltd., Chinadrip Irrigation Equipment Co. Ltd.
A key trend in the drip irrigation market includes technological advancements. Major companies operating in the drip irrigation market are focused on innovating new technologies to sustain their position in the market. For instance, in May 2021, Netafim, an Israel-based manufacturer of irrigation equipment launched the AlphaDisc filter, an intelligent automated filter to counter degrading water quality. This filter is used to prevent organic impurities from clogging irrigation systems and to help growers. It boosts output, reduces costs, and gives users peace of mind.
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The drip irrigation market is segmented -
• By Dripper: Inline Emitters, Online Emitters
• By Component: Filters, Drip Pipes, Emitters, Valves, Pressure Gauge, Fittings, Other Components
• By Crop: Field Crops, Fruit and Nuts, Vegetable Crops, Other Crops
• By Application: Surface Application, Subsurface Application
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the drip irrigation market share.
The Business Research Company's "Global Drip Irrigation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Drip Irrigation Market Include:
1. Executive Summary
2. Drip Irrigation Market Characteristics
3. Drip Irrigation Market Trends And Strategies
4. Drip Irrigation Market - Macro Economic Scenario
5. Drip Irrigation Market Size And Growth
……………
27. Drip Irrigation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Drip Irrigation Market
29. Drip Irrigation Market Future Outlook And Potential Analysis
30. Appendix
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