Drip irrigation system Market, Competitive Landscape, Future Trends and Forecast 2027
Growth
Drivers and Deterrents
Although
being an essential service, drip irrigation system Market have seen a heavy
drop in demand post the COVID-19. Irrigation agencies have been facing
challenges related to procuring of inputs, maintenance, and equipment. Fiscal
issues are rampant owing to additional costs as well as reduced revenues from
state transfers as well as tariffs. Farmers have had to deal with the lesser
accessibility to advanced irrigation equipment, thereby curbing the growth of
the micro irrigation market to a large extent. However, drip irrigation system
Market are still in demand worldwide, owing to the rising awareness about their
benefits, such as reduced water wastage and prevention of soil erosion. The
demand has remained steady especially in countries facing water scarcity.
Farmers are increasingly focusing on using these systems to bolster crop yields
while using minimum amount of water.
Substantial
increase in technological advances in drip irrigation system Market has been a
blessing for farmers in the agricultural sector, while also letting household
owners with big lands better manage the water flow as well as intake of plants.
Micro-irrigation systems are generally available in two forms, namely
sprinklers and drip that help bring down the total intake of the crops while
boosting the yield. Emerging regions such as Latin America and Asia Pacific are
fueling the sales of these systems backed by the supportive government policies
including low-interest subsidies and loans for farmers.
Governments
worldwide are motivating farmers to make use of drip irrigation system Market, which could also stimulate the
market growth rate over the following years. Given the scenario, industry
participants are striving to come up with low-cost and more efficient
micro-irrigation systems. Several regional government bodies offer free
electricity to farmers, which yet another reason for the strong adoption rate
of these systems.
Key
Players
The most
affluent industry participants listed in the report are Chinadrip Irrigation
Equipment Co. Ltd (China), Jain Irrigation Systems Limited (India), Lindsay
Corporation (US), Kothari Agritech Private Limited (India), Nelson Irrigation
Corporation (US), Netafim Ltd (Israel), Rain Bird Corporation (US), EPC
Industrie (India), Irritec S.p.A
(Italy), Harvel Agua (India), Antelco Pty Ltd (Australia), Deere & Company
(US), The Toro Company (US), Rivulis Irrigation Limited (Israel), Elgo
Irrigation Ltd (Israel), and many more.
Market Segmentation:
The micro irrigation system industry can be
considered for type, crop type, and end-use.
The drip irrigation system Market, depending on
type, caters to sprinkler irrigation and drip irrigation.
The drip irrigation system Market, with respect to
crop type, can be split into landscape, field crop, plantation crop, and
others.
The end-use industries listed in the report are
open field as well as closed system.
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Regional Analysis
The global industry is spread across certain regions,
namely Europe, the Middle East & Africa, North America, along with Asia
Pacific.
Asia Pacific will remain the top market for micro
irrigation system throughout the analysis period while also attaining the
fastest CAGR between 2020 and 2027. The APAC market’s strength lies in the vast
population whose livelihood is largely dependent on agriculture. Escalating
adoption rate of modern farming practices along with the surge in government
funds and subsidies encouraging the use of micro-irrigation systems especially
in India will be favorable for the regional market. India is ranked among some
of the top producers of crops, and with the government investing considerably
in the farming sector, the adoption of cost-effective and efficient solutions is
bound to further increase in the years ahead. The South Korean government has
implemented smart farming schemes and policies that fosters the use of these
systems in the agriculture industry. The government is also planning to build
massive smart farm complexes that could help attract the younger population and
raise their interest in farming. Apart from this, it intends to grant
small-sized farmlands to the professionals to kickstart their business, which
should bolster the demand for advanced products such as drip irrigation system
Market.
The North American market will presumably take the
lead in the coming years, as adoption of drip irrigation system Market has
picked up pace in line with the modernization of the existing farming
practices. Significant awareness level regarding the benefits of these systems
and the practices that facilitate it should also be favorable for the regional
market. The agriculture sector in the United States happens to be one of the
most important ones in the world. The U.S. Department of Agriculture reveals
that the country, in 2018, consisted 2,029,200 of total farms that occupied
around 899,500,00 acres of land. Most of the farmers are well-trained and make
use of the latest technologies while also adopting innovative agricultural
practices.
The RoW market will also gain traction at a steady
pace between 2020 and 2027, thanks to the huge demand for micro-irrigation
systems across South American countries like Brazil and Argentina. This could
be accredited to the accelerated uptake of sustainable agricultural techniques
among the farmers.
NOTE: Our Team of Researchers
are Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of Market
and Industries. Cordially get in Touch for More Details.
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