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Global Drip Irrigation Market Size to Touch USD 11 Billion & Grow With a CAGR of 9.2% by 2028 | BlueWeave Consulting

Geographically, the global drip irrigation market covers five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region dominated the global drip irrigation market in 2021. This dominance is attributed to the high concentration of agricultural-driven economies, such as China, India, Japan, and Vietnam. The rising penetration of advanced technologies, such as IoT and sensors, into the agricultural domain in these regions accompanied by favorable government initiatives, such as providing subsidies to farmers to promote precision farming, are also propelling the growth of the drip irrigation market in the Asia-Pacific region.

/EIN News/ -- New Delhi, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The global drip irrigation market is flourishing because of increasing emphasis and investments from developed and emerging economies toward sustainable agricultural practices due to the diminishing water supplies.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global drip irrigation market size at USD 5.9 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects global drip irrigation market size to expand at a significant CAGR of 9.2% reaching a value of USD 11.0 billion by 2028. Global drip irrigation market is registering substantial growth over the last few years due to the increasing emphasis and investments from developed and emerging economies toward sustainable agricultural practices because of diminishing water supplies. Precision farming is rapidly gaining ground, and drip irrigation is currently used in most agricultural practices. Expanding innovations and technology advancements in the agricultural field are boosting the scope of rooftop agriculture and controlled environment agriculture, which is projected to fuel the overall global drip irrigation market growth in the forecast period. However, the high initial and maintenance costs of large–scale drip irrigation systems may act as a restraining factor for the market growth.

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Global Drip Irrigation Market – Overview

Drip irrigation is a type of micro-irrigation system that uses components such as emitters to dispense water and nutrients to crops directly at their roots, which helps in minimizing evaporation and prevents resource wastage. That is why this type of irrigation system is considered more efficient compared to other types.

Netafim, a leading Israeli manufacturer of irrigation equipment, states that the adoption of a drip irrigation system is not only beneficial for the farmers in cost-saving but is also favorable for the health of the plants and crops. This technique helps in delivering high quality and quantity of water and nutrients to plants and prevents an overdose of fertilizers which may harm the output.

According to the data from World Bank, the agriculture sector is responsible for around 70% of water withdrawals worldwide, and the UN’s Food and Agriculture Organization says that 60% of the 70% of withdrawal is completely wasted. Therefore, the discussion surrounding water conservation in the agriculture industry is boosting the awareness towards efficient agricultural practices, such as drip irrigation, fueling the overall market growth.

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Global Drip Irrigation Market – By Application

Based on application, the global drip irrigation market is segmented into surface application and subsurface application. The surface application accounts for a higher market share owing to the several benefits it offers including low labor costs and high water application efficiency. Along with these, the surface drip irrigation application is capable of watering asymmetrical field types with ease, which further helps in conserving water resources and making agricultural processes efficient. However, the subsurface application is also increasingly gaining traction in the market as it prevents water loss by directly applying water to root zones.

Impact of COVID-19 on the Global Drip Irrigation Market

The unprecedented COVID-19 pandemic had a direct and major influence on the global drip irrigation market. Lockdown imposed at the national level by different nations stopped the manufacturing of drip irrigation parts, which is a key driver of industry expansion. The market's expansion was also severely hampered by disruption in the distribution channels brought on by prohibitions on cross-border commerce and a labor shortage in the agricultural sector. Nevertheless, the market is anticipated to thrive in the years following COVID-19, partly because of the increased focus on sustainable development and moral farming methods.

Competitive Landscape

Major players operating in the global drip irrigation market include China Drip Irrigation Equipment Co., Ltd., Driptech Incorporated, EPC Industries Limited, Eurodrip S.A, Grupo Chamartin Chamsa, Hunter Industries, Irritec S.P.A., Jain Irrigation Systems, KSNM Drip, Lindsay Corporation, Metzer Group, Microjet Irrigation, Netafim, Rain Bird Corporation, and Rivulis Irrigation. The market is dominated by major corporations offering advanced technologies. These companies constantly expand investments towards boosting innovations in their solutions. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Global Drip Irrigation Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Drip Irrigation Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Drip Irrigation Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.



Recent Developments

  • In November 2022 – Netafim, an Israel-based irrigation equipment manufacturer, announced its first carbon credit initiative for rice farmers to encourage the use of drip irrigation in Italy, Turkey, India, and other Southeast Asian countries.
  • In August 2022 – Water Ways Technologies Inc., a Israel-based agriculture technology provider, acquired Desarrollo de Sistemas Hidraulicos S.A., a Chile-based smart irrigation provider.

Scope of the Report

Attributes Details
Years Considered Historical Data – 2018–2021
Base Year – 2021
Estimated Year – 2022
Forecast Period– 2022–2028
Facts Covered Revenue in USD Billion
Market Coverage North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Product/ Service Segmentation Component, Crop Type, Application, Region
Key Players China Drip Irrigation Equipment Co., Ltd., Driptech Incorporated, EPC Industries Limited, Eurodrip S.A, Grupo Chamartin Chamsa, Hunter Industries, Irritec S.P.A., Jain Irrigation Systems, KSNM Drip, Lindsay Corporation, Metzer Group, Microjet Irrigation, Netafim, Rain Bird Corporation, Rivulis Irrigation

By Component

  • Emitters/Drippers
  • Pressure Pumps
  • Drip Mainlines/Drip Tubes
  • Valves
  • Filters & Fertilizers Injectors
  • Fitting & Accessories

By Crop Type

  • Field Crops
  • Fruits & Nut
  • Vegetable Crops
  • Other Crops

By Application

  • Surface Application
  • Subsurface Application

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa



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About Us 

BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.

Contact Us:

BlueWeave Consulting & Research Pvt. Ltd

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info@blueweaveconsulting.com
https://www.blueweaveconsulting.com/

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