Drip Irrigation Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

Drip Irrigation Market size was valued at USD 6.2 billion in 2021 and is anticipated to value at USD 11.48 billion by 2028 witnessing a CAGR rate of 9.2% during the forecast period 2022-2028, owing to increasing population and growing demand for large scale production with limited sources and subsidies offered by the government to encourage farmers for drip irrigation systems are the major factors that are driving the growth of the market. Moreover, the benefits such as 95% usage of water by the crop and low wastage of water when compared to sprinklers and furrow systems and technological advancements in drip irrigation systems fuels the growth of the market over the forecast period. However, the high initial cost and availability of other irrigation systems are expected to hamper the growth of the market. The global drip irrigation systems market is expected to show a significant growth rate over the forecast years due to the strategic acquisitions and collaborations among the market players and the launch of innovative products to strengthen their position in the market. For instance, In January 2018, Jain Irrigation announced that the company has acquired two irrigation and distribution companies – Agri-Valley Irrigation Inc. and Irrigation Design and Construction Inc., and in September 2018, Jain Irrigation Systems Ltd has agreed to acquire ET Water Systems Inc., a California, and US-based Company that offers irrigation technology products to expand Jain Irrigation’s water management technology product offerings Global drip irrigation systems market report gives comprehensive outlook on drip irrigation systems across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The report gives historical, current, and future market sizes (US$ Mn) on the basis of crop type, component type, drippers/emitters type, and region. This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. The report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed the global drip irrigation market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global drip irrigation market report include suppliers, manufacturers, marketers, policymakers, and service providers engaged in global drip irrigation products