Drip Irrigation Systems Market - Industry Growth, Analysis, and Forecast To 2022 – by Credence Research
According to a new market research report published by
Credence Research “Drip Irrigation Systems Market (Agriculture,
Gardens (Public & Residential) and Others (Greenhouses & Nurseries) -
Growth, Share, Opportunities, Competitive Analysis and Forecast 2015 - 2022”,
the global drip irrigation systems market stood at US$ 1,070.8 Mn in 2014 and
is estimated to expand with a CAGR of 12.5% from 2015 to 2022.
The complete report is available at
Market Insights
Drip irrigation system is among the
most efficient irrigation techniques. It includes application of water using
drippers placed regularly on the lateral tubing. The water flow can be adjusted
from 2-20 liters per hour making drip irrigation suitable for large number of
crops. The primary components used in the drip irrigation system include tubing
(mains and lateral), drippers, filters, backflow preventers, valves, pressure
regulators and other required fittings. The drip irrigation systems market is
majorly supported by their superior water efficiency and increasing need for
higher agricultural production.
Despite the prolonged existence of
drip irrigation systems, the overall penetration of drip irrigation systems is
currently low. This is majorly due to dominance of other irrigation methods
such as sprinkler systems and traditional irrigation techniques. In addition,
drip irrigation systems market is significantly hampered by their high costs
and maintenance requirement. Also, less awareness of people and reluctance to
change is another important restraint for the market.
The drip irrigation systems market,
as of 2014, is dominated by the agriculture segment. Due to rising population
worldwide, there has been a consistent need for increasing agricultural yield.
As a result, governments of various countries are offering subsidies on
installation of modern irrigation systems. Hence, the segment is expected to
retain its dominant position in the market throughout the forecast period.
However, the other segment is expected to register the highest CAGR during the
forecast period. The other segment comprises greenhouses and nurseries.
Competitive Insights:
The market is highly consolidated in
nature with few major players contributing to more than fifty percent of the
total market revenue. However, companies face significant competition from the
local/regional players. Some of the major companies operating in the drip
irrigation systems market are Netafim Ltd., Jain Irrigation Systems Ltd., The
Toro Company, Hunter Industries, Inc., Lindsay Corporation and others. These
companies are currently focusing on increasing their sales in markets such as
India, China, Brazil and others where drip irrigation penetration is still low.
Key Trends:
·
Enhancement of the systems using drip
chemigation/fertigation
·
Promoting sub-surface drip irrigation
system
·
Focus on large untapped markets such
as China and India
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