Drip Irrigation Market to Hit $9.3 Billion by 2025
The global drip irrigation market is projected to grow from USD 5.5 billion in 2020 to USD 9.3 billion by 2025, at a CAGR of 10.8%.
Drip irrigation system allows controlled use of water, where water is slowly delivered to the root system of plants. Using this method water is either dripped onto the soil surface above the roots or directly to the root zone. This method aims to reduce water evaporation. Drip irrigation system, with proper installation and management can help in substantial conservation of water by controlling evaporation and drainage. It can be used effectively for all soil types and it can control soil erosion. Moreover, the drip system is also helpful in providing organic matter and nutrients to the plants through the drip pipes.
Coherent Market Insights have included a latest addition of global market research report titled Drip Irrigation Market to its expansive repository. The report studies primary and secondary research in order to analyze the data effectively.
Top Key Players in Drip Irrigation market: Rain Bird Corporation, Netafim limited, Lindsay Corporation, S.A, Driptech Incorporated, Microjet Irrigation System, Rivulus Irrigation, Toro Company, EPC Industries LTD, and Eurodrip.
The scope of the Report:
The report segments the global Drip Irrigation Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Drip Irrigation Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.
Drip Irrigation Market Outlook:
Asia Pacific market is anticipated to grow at a substantial rate over the forecast period, owing to incentives and subsidies provided by the government. Moreover, advantages associated with use of drip irrigation such as high yield and low wastage of water are fueling growth of the market in emerging economies such as China and India. Furthermore, the restriction on soil erosion and easy fertilization are major factors driving growth of the drip irrigation market. The Department of Agriculture and Farmers Welfare in India under the Accelerated Irrigation Benefit Programme (AIBP) of Ministry of Water Resources (MOWR) has proposed a scheme of approximately 153 Million US$ for the period of 2015 -2016.
Drip Irrigation Market Key Developments:
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- On 20th March 2019, Rain Bird Corporation, a manufacturer and provider of irrigation products and services, announced the launch of its new LG3HE In-Ground Sprinkler with Click-n-Go Hose Connect. This was launched for the ease of homeowners to install a sprinkler system.
- In 2017, Rivulis Irrigation Ltd. of Israel merged with Eurodrip S.A. of Greece to create a global leader in micro irrigation. This merger helped the company in expanding its product portfolio.
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The post Drip Irrigation market Estimated to Generate a Revenue of USD 9.3 billion by 2025 with Growing at a CAGR of 10.8% from 2021 to 2027 appeared first on Gatorledger.
