Drip Irrigation Market Size Worth USD 18.70 Billion by 2032 | Emergen Research

Vancouver, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The global Drip Irrigation Market will be worth USD 18.70 Billion by 2032, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing utilization of advanced technologies to increase the efficiency of the traditional irrigational systems. The increasing installations of the Internet of Things (IoT) devices in the agricultural farms are projected to fuel the growth of the industry. The increasing labor cost due to the declining agricultural workforce is expected to drive the development of precision irrigation systems and increase the adoption of drip irrigation systems. The cost benefits gained due to the usage of automated irrigation infrastructure is one of the key driving factors of the industry.
Rising smart cities across several countries in the world are expected to increase the adoption of precision irrigation systems and offer lucrative opportunities for the key players in the drip irrigation market.

The high technological cost of the system and lack of skill sets and technical knowledge among the farmers are expected to hamper the growth of the market.

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Scope of Research

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MAJOR COMPANIES and Market Share Analysis

The Drip Irrigation Market is moderately fragmented with a large number of small and medium-sized manufacturers, which account for a major part of the global share. The manufacturers are well-equipped with manufacturing facilities and are involved in several research & development activities. Some of the prominent players in the Drip Irrigation Market include:

• The Toro Company
• Lindsay Corporation
• Jain Irrigation Systems Ltd
• Rain Bird Corporation
• Netafim Ltd
• Rivulis Irrigation Ltd
• Hunter Industries
• Elgo Irrigation Ltd.
• Chinadrip Irrigation Equipment Co. Ltd.
• MAHINDRA EPC LTD.

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In July 2020, Lindsay Corporation acquired an agriculture Internet of Things technology company, Net Irrigate, LLC. The acquisition is aimed to extend water and energy efficiency and incorporate more sustainable farming practices.

Key Highlights From The Report

• In March 2020, Venture Products (U.S.) was completely acquired by the Toro Company in order to remain competitive in the professional market and to expand its product portfolio among customers in turf, landscape, and ice and snow maintenance categories.
•  The surface drip irrigation segment is forecasted to grow with the fastest CAGR of 11.2% over the forecast period. The rising demand for efficient irrigation systems in the agriculture sector is expected to drive the growth of the surface drip irrigation system.
• Field Crops segment held the largest market share of 35.2% in 2019. The advantages offered by drip irrigation, such as higher profit margins, reduced costs, and lesser fertilizer and water requirements, have increased the utilization of the system for the cultivation of the field crops.
• The emitters are forecasted to be the fastest-growing segment over the forecast period due to the advantage of easy installation of the emitters or the drippers for commercial and residential purposes,
• North America accounted for the second-largest market share of the Drip Irrigation market in 2019 due to the presence of the major market players in the region, such as The Toro Company, Lindsay Corporation, and Rain Bird Corporation.

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Emergen Research has segmented the global Drip Irrigation Market on the basis of Application, Crop Type, Component, and region:

• Application Outlook (Revenue, USD Billion; 2019–2032)
  • Subsurface drip irrigation
  • Surface drip irrigation
• Crop Type Outlook (Revenue, USD Billion; 2019–2032)
  • Vegetable crops
  • Field Crops
  • Vineyards
  • Orchard Crops
  • Other crops 
• Component Outlook (Revenue, USD Billion; 2019–2032)
  • Emitters
  • Drip Tubes
  • Pressure Pumps
  • Filters
  • Valves
  • Fittings & Accessories
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. UK
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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