The global drip irrigation market was valued at USD 5.1 billion in 2018 and is expected to reach USD 8.9 billion in 2026, growing at a CAGR of 9.7% during the forecast period.Drip irrigation is a controlled irrigation technique in which water is slowly spread released to the root system of various crops. In this method, the water is either dripped onto the surface of the soil above the roots or directly into the root zone. It is often used as a technique for surface irrigation because it helps to decrease water evaporation from soil. Growth in the drip irrigation industry is driven by increased crop yields, and public programs and subsidies to assist conserve natural resources are main factors driving the growth of this market. However, a lack of technical skills and high capital investment hinder the development of the Drip Irrigation market. On the other side, technological advancements and the growing implementation of precision agriculture and sustainable methods may also provide a lucrative opportunity for market players in the forecasted period.Based on component type, emitter segment expected to dominate the market throughout the forecast periodBased on component type, the global drip irrigation market has been segmented emitters, drip tubes/drip lines, filters and valves among others. The emitter segment is growing rapidly in the drip irrigation market with the highest CAGR of 8.9% in the forecast period. The function of emitters is to discharge water at a determined pace and avoid clogging. Inline emitters are present with equal spacing within the laterals which are flat boat-shaped, cylindrical, or connected to the lateral inner wall. Inline emitters are usually used for row crops or field plants that provides maximum clogging strength and are suitable for surface irrigation and subsurface irrigation. End users of inline emitters have important labour savings as emitters are pre-installed. Based on Crop Type, the field crops segment is expected to grow at a CAGR of around 6.9% throughout the forecast periodBased on application, the market has been segmented into fruits, vegetable and flowers. The field crop type accounts of the largest share in the market and are expected to grow at a CAGR of around 6.9% during the forecast period. Drip irrigation has gained significance among field growers for its accurate plant execution and therefore provides benefits, such as reduced costs, higher profit margins and reduced water and fertilizer requirements.Drip irrigation is profitable for increasing vegetables, orchards and grass & lawns; however, its use in field crops such as corn, sugar cane and cotton has also been profitable over the period. Increased prices for field crops have also stimulated the growth of the drip irrigation sector.The Asia Pacific to dominate the drip irrigation market throughout the forecast periodThe Asia Pacific accounted for nearly 48.5% share of the global drip irrigation market in 2018 and is expected to dominate the market throughout the forecast period. Rapid mechanization of agriculture in the countries and increased government initiatives to reduce wastage of water during irrigation are factors driving the demand for drip irrigation. Additionally, with farm’s incomes increase and rate of mechanization in the agricultural processing will progress propels the market demand for drip irrigation. Besides, many NGOs in this region are raising awareness of the benefits of drip irrigation, which will help the global micro irrigation market to evolve significantly during the forecast period.Company Profiles and Competitive Intelligence:The major players operating in the global drip irrigation market are Jain Irrigation Systems Ltd., Lindsay Corporation, The Toro Company, Netafim Limited, Rain Bird Corporation, Chinadrip Irrigation Equipment Co. Ltd., Elgo Irrigation Ltd., Shanghai Huawei Water Saving Irrigation Corp., Antelco Pty Ltd., EPC Industries, Microjet Irrigation and T-L Irrigation among others.
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