Drip Irrigation Market Report has recently added by Value Market Research, this surveillance report establishing the facts based on current scenarios, historical records from 2020 to future forecast upto 2027. Increasing government initiatives to encourage the use of drip irrigation systems and subsidy programs to help farmers buy farm machinery and systems at lowest interest rates are projected to improve market demand over the forecast period. For example, on 1 July 2015, the Government of India launched the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) with the motto of ‘Har Khet Ko Pani’ to deliver end-to-end solutions in the irrigation supply chain. Distribution networks, water sources and farm-level applications. PMKSY adopted state level planning and projected implementation which allows states to tailor their irrigation development based on state irrigation plans and district irrigation plans. However, the high initial cost of large-scale drip irrigation systems may hinder the global drip irrigation industry in the long run. Moreover, the cost incurred in system maintenance is negatively affecting the growth of the market. Current industry trends, such as adoption of precision agriculture and sustainable practices, advancement in healthcare infrastructure, and technological advancements in drip irrigation systems, are expected to provide valuable market opportunities for the global market players.
According to Value Market Research, the global drip irrigation market was valued at around USD 5500 million in 2020 and is projected to grow at a CAGR of around 10% during the forecast period from 2021 to 2027.
Market segmentation covered in the report:
by components
emitters
deadman
drip tube
valve
filter
other
by type of crop
crops
fruits and nuts
vegetable crops
Other crops (turf, ornamental and spice crops)
by application
Agriculture
landscape
Greenhouseds
other
by region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Key players in the report include Netafim Ltd., Jain Irrigation Systems Ltd., The Toro Company, Driptech Incorporated, Lindsay Corporation, Rain Bird Corporation, Eurotrip SAEPC Industries Ltd., Microjet Irrigation Systems, and Rivulus Irrigation.
Source: https://www.valuemarketresearch.com/report/drip-irrigation-market
Nishtha Sarabhai after working for three years in a Bank switched to writing to balance her work and home. She is a mother of two beautiful kids. She enjoys writing on Aerospace, Science and new invcentions. She has been with VMR news since its inception.