Drip Irrigation Market Projected to register CAGR 10.5% during the forecast period 2016 – 2023

Global drip irrigation market is anticipated to reach USD 4.3 billion by the end of 2023 witnessing a promising compound annual growth rate of 10.5% over the forecast period i.e.2016-2023 owing to the government initiatives to promote the drip irrigation systems.
Geographically, Asia Pacific accounted for the highest market share of 52% by the end of 2015; the market is anticipated to be the most attractive market in terms of market growth, witnessing a compound annual growth rate of 13% over the forecast period.

Europe market for drip irrigation system is expected to expand at a compound annual growth rate of 8.8% over the forecast period i.e. 2016-2023 owing to reduced arable land due to growth of industrialization in the region, government of European countries are taking initiatives to promote drip irrigation system in farms to boost the crop yield. Further, agricultural irrigation segment is anticipated to hold the largest market share followed by greenhouse irrigation over the forecast period owing to the increasing water scarcity, high production requirement and increasing adoption of irrigation tools in agricultural sector.

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Demand Analysis By Market Segmentation

By Component

Deep dive industry analysis has been carried out on the following component segments:-

Emitters
Pressure Gauge
Drip Tube
Valves
Filters
Others
By Application
By application, the global drip irrigation system market is analyzed on the following application:-
Agricultural Irrigation
Landscape Irrigation
Greenhouse Irrigation
Others
By Crop Types
Field Crops
Vegetable corps
Orchard Crops
Vineyards
Rest Crops
By Region
Global Drip Irrigation Market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East and Africa)

Growth Drivers and Challenges

Rise in the global population has led to strong demand for agricultural products, this has further created the demand of large scale production in agricultural sector by the use of limited water resources, and this will further propel the demand of drip irrigation system across the globe.

Growing environmental concerns along with the global water shortage is anticipated to be the major factor behind the strong demand of effective irrigation system over the forecast period i.e. 2016-2023.

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Drip irrigation system has resulted in to increased crop yield and better quality product by reducing soil erosion and low weed growth, farmers across the globe are adopting the drip irrigation system to improve the yield of crops with minimum use of water, and these factors are anticipated to shape the drip irrigation market over the forecast period.

High initial cost of system installation along with the sophisticated level of management is expected to hinder the market growth particularly in developing countries.

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