Chicago, Oct. 17, 2022 (GLOBE NEWSWIRE) -- According to a research report by MarketsandMarkets™, the drip irrigation market size is estimated to be valued at USD 5.2 billion in 2022 and is projected to reach USD 8.3 billion by 2027, recording a CAGR of 9.8% from 2022 to 2027.
The growth in the drip irrigation market is attributed to the increased adoption of precision agriculture and sustainable practices. Rising cognizance among farmers, regulatory reforms, and agricultural policy for sustainably produced foods would contribute to the growth of the drip irrigation market.
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Based on crop type, the field crops segment is projected to dominate the drip irrigation market in the forecasted period. The increasing demand for field crops such as corn, cotton, soybean, pigeon pea, and castor, which are highly traded exportable commodities, across different regions, have been the key drivers for the demand in the drip irrigation market.
Among various components, drip mainlines/drip tubes are anticipated to witness the highest growth rate over the forecast period. The drip tube is a crucial part of the drip irrigation process. Often manufactured out of polyethylene, the tubing is responsible for transporting water from the source to the plants where the water is released by emitters and drip lines. The increasing demand for surface and subsurface systems across field applications continues to bolster the demand for drip mainlines/drip tubes.
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Among applications, the surface segment is anticipated to witness the highest growth rate over the forecast period. Surface equipment is considered a cheaper alternative with respect to subsurface irrigation. However subsurface drip irrigation equipment is a sustainable solution mainly due to water-use efficiency, less weed growth, and decreased production cost due to which the penetration of this particular application is increasing in developed countries such as the US, Spain, and others.
Based on emitter/dripper type, the inline segment is projected to dominate the drip irrigation market in the forecasted period. Inline emitters provide a cost-benefit to growers by integrating the emitters into the driplines, thereby saving on installation costs. Advancements in fertigation and chemigation technologies and the ease of installation have helped drive the prospects for inline emitter systems. The manual installation of online emitters is the only disadvantage that hinders the growth of online emitters.
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Asia Pacific is estimated to be the largest region for the drip irrigation market in 2022.
Nowadays, agricultural focus is shifted to more commercial crops from traditional crops. Due to these modifications, facilities of irrigation are modernizing the irrigation management and most preferably, the infrastructure. The growth in this region is driven by the rise in demand for agricultural produce due to the growing population, an increase in technological advancement in irrigation facilities, and government subsidies in various countries of this region.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Jain Irrigation Systems Ltd. (India), Lindsay Corporation (US), The Toro Company (US), Rivulis (Israel), Hunter Industries Inc. (US), Netafim (Israel), Rain Bird Corporation (US), Chinadrip Irrigation Equipment Co., Ltd. (China), Elgo Irrigation Ltd. (Israel), and Shanghai huawei water saving irrigation corp. ltd. (China).
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