Recent Release: Drip Irrigation Systems Market Size and Share 2016 – 2021 – Credence Research
According to a new market research report published by Credence Research, Inc. “Drip Irrigation Systems (Agriculture, Gardens (Public & Residential) and Others (Nurseries, Greenhouses etc.)) Market – Growth, Share, Opportunities, Competitive Analysis and Forecast 2015 – 2022”, the drip irrigation systems market is expected to be driven by their superior water efficiency over other irrigation techniques. Drip irrigation systems offer water efficiency of up to 90%. This enables reducing water loss substantially and increasing overall productivity. In addition, the market is expected to gain traction due to government initiatives such as subsidies.
The global drip irrigation systems market is segmented into components, application and geographical regions. On the basis of components, the market was dominated by the tubing segment, as of 2014. Tubing and drippers form the core components of drip irrigation systems. These are required in large quantity depending upon the size of field. Additionally, due to constant exposure to environment, tubing as well as drippers may require frequent replacement. With the increasing adoption of drip irrigation systems worldwide, the tubing segment is expected to retain its dominant position in the market throughout the forecast period.
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On the basis of application, the drip irrigation systems market is dominated by the agriculture segment accounting for more than sixty percent of the total market revenue. Rising population worldwide has led to increase in demand for food products. Thus, it becomes essential to increase agricultural production so as to meet the growing food requirement. Since drip irrigation enables optimum output, it becomes the most suitable form of irrigation technique in agriculture. As a result, the segment is expected to hold its dominant position throughout the forecast period. However, the others (greenhouses and nurseries) segment is expected to register the highest growth rate in the coming years. Greenhouses enable productive cultivation of crops irrespective of the climatic conditions. With increase in production through greenhouses and nurseries, the segment is expected to generate strong demand for drip irrigation systems in the coming years.
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The drip irrigation systems market is highly consolidated in nature with few major companies accounting for more than fifty percent of the total market revenue. Netafim Ltd., Jain Irrigation Systems Ltd., The Toro Company, Lindsay Corporation and others are among the leading companies in drip irrigation systems market. These companies have successfully established their presence globally through organic as well as inorganic growth. Nevertheless, the market scenario changes depending upon the geographical regions. For instance, the market in Asia Pacific is quite unorganized as compared to North America and Europe due to presence of regional players. Thus, global companies face significant competition in such markets.
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