Technological Advancements Propel Drip Irrigation Market to $11.39B by 2028, Growing at 11.5% CAGR

The new report published by The Business Research Company, titled "Drip Irrigation Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the drip irrigation market size has grown rapidly in recent years. It will grow from $6.59 billion in 2023 to $7.37 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The drip irrigation market size is expected to see rapid growth in the next few years. It will grow to $11.39 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%.

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Growing Demand For Agricultural Products Fuels Drip Irrigation Market Expansion
Increasing demand for agricultural products is expected to propel the growth of the drip irrigation market going forward. 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. A record amount of 150.50 million tons of food grain is expected to be produced nationwide in 2021-2022, up 0.94 million tons from the Kharif production of 2020-2021. Furthermore, according to the Crop Production 2021 Summary shared by the United States Department of Agriculture (USDA), a US-based federal executive department responsible for farm policy and food safety, the estimated corn for grain output in 2021 was 15.1 billion bushels, an increase of 7% from the prediction for 2020. Estimated grain production for 2021 was 448 million bushels, a 20% increase above the level for 2020. The total amount of cotton predicted to be produced is 17.6 million 480-pound bales, up 21% from 2020. Therefore, increasing demand for agricultural products is driving the growth of the drip irrigation market.

Drip Irrigation Market Embraces Innovation With Advanced Technologies
Technological advancements have emerged as a key trend gaining popularity in the drip irrigation market. 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. It uses First-of-its-kind remote sensing technology and algorithms that give farmers online information and insights to keep an eye on everything. Alphadisc is an innovative product or a new generation of cutting-edge filtration systems that safeguard irrigation systems and provide performance data measurement so growers can properly monitor and manage their priceless resources.

The drip irrigation market covered in this report is segmented -
1) By Dripper: Inline Emitters, Online Emitters
2) By Component: Filters, Drip Pipes, Emitters, Valves, Pressure Gauge, Fittings, Other Components
3) By Crop: Field Crops, Fruit And Nuts, Vegetable Crops, Other Crops
4)By Application: Surface Application, Subsurface Application

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Major companies operating in the drip irrigation market report are The Toro Company, Valmont Industries lnc., Netafim Limited, Jain Irrigation Systems Ltd., Rain Bird Corporation, Lindsay Corporation, Hunter Industries Inc., Rivulis Irrigation Ltd., Naandan Jain Irrigation Ltd., Eurodrip S.A, T-L Irrigation Company, Grupo Chamartin S.A, Stax Technologies, Irritec S.P.A, Driptech Incorporated, DripWorks Inc., Irrigation-Mart lnc., Chinadrip Irrigation Equipment Co. Ltd., Aqua Solutions lnc., Goldenkey, Elgo Irrigation Ltd., Antelco Pty. Ltd., Microjet Irrigation Systems, EPC Industries Limited, Nelson Irrigation Corporation, Sistema Azud S.A, Shanghai Huawei Water Saving Irrigation Corp., Metzer Group, KSNM DRIP, Raindrip Inc., Anupam Agri Industries Ltd.

Contents of the report:
1. Executive Summary
2. Drip Irrigation Market Report Structure
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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