14.11% CAGR in Drip Irrigation Systems Market | 17,000+ Technavio Reports

2021-12-27 08:17:50 By : Ms. Ivy Xu

NEW YORK , Dec. 8, 2021 /PRNewswire/ -- The drip irrigation systems market size is expected to grow by USD 2.64 billion , as per the latest market outlook report from Technavio. The report identifies the market to witness an accelerating growth momentum at a CAGR of 14.11% from 2020 to 2025. The report also offers a comprehensive analysis on the various factors influencing the market growth positively and negatively during the forecast period.

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Drip Irrigation Systems Market Driver and Challenge Analysis The growing focus on the efficient use of natural resources is identified as one of the major factors driving the growth of the market. End-users are increasingly using water-efficient irrigation systems such as drip irrigation systems. Drip irrigation systems ensure the proper application of water to the soil for germination. They help optimize the air and water balance in the soil to maintain better soil conditions for root development. The water-saving benefits offered by drip irrigation systems help end-users conserve water and ensure the efficient use of natural resources. In addition, other factors such as benefits offered by drip irrigation systems and growth in preference for certified drip irrigation systems are also expected to fuel the market growth positively during the forecast period.

However, the high initial cost and maintenance cost will be a major challenge for the drip irrigation systems market vendors. End-users must ensure that the drip tapes are not damaged during operation; they must be carefully placed based on the cultivation practices. They have to re-arrange the drip irrigation system for crop rotation. This increases the maintenance cost of drip irrigation systems. This is further expected to hinder the market growth during the forecast period. In addition, other factors such as growing threat from substitute irrigation systems and surging filtration and clogging issues are likely to limit the market growth during the forecast period.

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Drip Irrigation Systems Market Segment Analysis The drip irrigation systems market is segmented by end-user (Agriculture and Others), dripper type (inline and online), and geography (North America , APAC, Europe , South America , and MEA). The agriculture segment held the largest drip irrigation systems market share in 2020 and is likely to dominate the market growth during the forecast period. The demand for food products is continuously rising due to the increase in the global population. Therefore, farmers are increasingly opting for efficient irrigation systems to meet the growing demand while ensuring the controlled use of water in fields.

The inline dripper type segment will exhibit a growth rate faster than that of the overall market. Inline drip irrigation systems are mainly used in field crops, greenhouses, dense orchards, and for underground irrigation in agriculture and lawn.

In terms of geography, 34% of the overall market growth originated from North America. The US and Canada are the key markets for drip irrigation systems in North America . Market growth in this region will be faster than the growth of the market in the South American and MEA regions.

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Drip Irrigation Systems Market Segment Scope This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

Drip Irrigation Systems Market Sizing Drip Irrigation Systems Market Forecast Drip Irrigation Systems Market Analysis

Drip Irrigation Systems Market Vendor Analysis The drip irrigation systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. In March 2021, The Toro Co. acquired Left Hand Robotics, Inc. to support next-generation technologies, including alternative power, smart connected drip irrigation systems.

The drip irrigation systems market report also offers information on several market vendors including:

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Drip Irrigation Systems Market Scope

Accelerate at a CAGR of 14.11%

North America, APAC, Europe, South America, and MEA

US, Canada, France, China, and Russian Federation

Leading companies, competitive strategies, consumer engagement scope

DIG Corp., Jain Irrigation Systems Ltd., Lindsay Corp., Mahindra and Mahindra Ltd., Netafim Ltd., Orbit Irrigation Products LLC, Rain Bird Corp., Rivulis Irrigation Ltd., The Toro Co., and Valmont Industries Inc.

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/

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