Drip Irrigation Market to Rise at 9.3% CAGR till 2026; Presence of Favorable Agricultural Subsidies to Provide Impetus to Market Growth

The global drip irrigation market size is projected to reach USD 9.37 billion by the end of 2026. The increasing number of agricultural subsidies by governments across the world will encourage the use of these systems. According to a report published by Fortune Business Insights, titled “Drip Irrigation Market Size, Share & Industry Analysis, By Component (Emitters, Drip Tubes/Drip Lines, Pressure Pumps, Filters, Valves, and Others), Crop Type (Field Crops, Orchard Crops, Landscape & Turf, and Others), Application (Surface and Subsurface), and Regional Forecast, 2019 – 2026,” the market was worth USD 4.63 billion and will exhibit a CAGR of 9.3% during the forecast period.

Drip irrigation is a type of irrigation system that it is primarily used to save water. The system operates in a manner wherein water slowly drips to the plants, subsequently reducing wastage of water as well as nutrients. The increasing agricultural activities across the world have fuelled the demand for these systems. Moreover, the presence of several government subsidies associated with these products will lead to a wider adoption across the world. The emphasis on the research and development of efficient drip irrigation products, coupled with the increasing investment in the same, will bode well for the growth of the market in the coming years. Increasing number of mergers and collaborations between agriculture companies and finance-based organizations will create several growth opportunities.

Jain Irrigation, Inc., Announces Plans to Acquire ETWater

Due to the massive demand as well as growing popularity of these products, there are numerous companies operating across the world. As a result of this, several companies are looking to adopt standout strategies, with a bid to establishing a stronghold in the market. In September 2018, Jain Irrigation, one of the leading agri-based companies, announced that it plans to acquire ETwater in the coming years. Through this acquisition, the company plans to build a smart irrigation controller that will help reduce the total wastages in farming activities. This acquisition will not just benefit the companies, but will have a direct impact on the growth of the overall market in the foreseeable future.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/drip-irrigation-market-102684

Growing Emphasis on Maximizing Agricultural Yield Will Aid Growth

The awareness regarding energy saving as well as water shortages in numerous countries across the world will create several platforms for market growth. The increasing demand for sustainable and energy saving platforms will lead to a subsequent demand for these systems. Due to the massive potential held by drip irrigation systems, several companies are investing huge sums in the development of cost-effective as well low-energy consuming products. The report includes several other factors that have contributed to the growth of the market in recent years.

Market is Consolidated in Nature; Growing Demand to Change this Scenario

The global drip irrigation market growth derives from considerable number of companies operating across the world. A few companies account for a dominant market share for drip irrigation. Having said that the constantly rising demand for these products is likely to change the scenario.

Below is the list of the leading companies that are currently operating in the global market include:

• Lindsay Corporation
• Jain Irrigation Systems Ltd.
• Rivulis Irrigation Ltd.
• Rain Bird Corporation
• Sistema Azud
• Netafim Limited
• The Toro Company
• Elgo Irrigation Ltd.
• Chinadrip Irrigation Equipment Co. Ltd.
• Metzer Group
• Antelco Pty Ltd.

Industry Developments:

• November 2019: The government of Tamil Nadu, India, announced an increase in the subsidy amount for farmers who are engaged in drip irrigation-based sugarcane farming.
• August 2019: Rivulis Irrigation India announced the launch of a satellite-based software solution, called “Manna” in India.

Further Report Findings:

• The report analyzes the ongoing drip irrigation market trends for drip irrigation across five major regions. The market in Asia Pacific is likely to generate the highest revenue among all regions. An increasing number of micro-irrigation activities in countries such as China and India will aid growth.
• North America to emerge as the second-largest market in the coming years, driven by the adoption of innovative concepts in irrigation systems.

The global market is segmented based on: