Drip Irrigation Systems Market worth USD 2,318.38 Million in 2016 Expected To Reach USD 3,823.56 Million By 2021

Drip Irrigation Systems Market worth USD 2,318.38 Million in 2016 Expected To Reach USD 3,823.56 Million By 2021

The Drip Irrigation Systems Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Drip Irrigation Systems Market is estimated to be USD 2318.38 million in 2016 and predicted to rise to USD 3823.5 million by 2021 with a CAGR of 10.7%. The market is segmented by Crop Type (Fruits and Vegetables, Field crops, Orchard Crops, Turf and ornamental, Vineyard and others), Application (Agriculture, Landscape, Greenhouse and Others), Components (Pressure Gauges, Filters, Valves, Emitters, Drip Tubes, and Others). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

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Taking the current market trends into account, the market is expected to show significant growth in the mentioned period. Its growth can be attributed to factors such as, increasing population, rising demand for agriculture products, reducing water wastage, technological advancements in irrigation facility, government subsidies. The market faces some restraints as well, such as huge investment costs as well as lack of proper awareness among farmers.

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The Global Drip Irrigation Systems Market has been segmented on the basis of Crop type, application and components. Based on Crop type, fruits and vegetables dominate the market share and is the fastest growing segment as well. Under segmentation by application, greenhouse segment account for the largest market share due to efficiency and less water wastage.

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On the basis of Geography, the market has been analyzed under various regions across the globe. The Asia-Pacific region was seen to have the largest share in the market with a market share of almost 50%. It can be attributed to factors like higher demand for food with rising population I countries like India and China. The Europe Market is expected to have the highest CAGR in the mentioned forecast period.

Amidst various companies taking interest in the market lately, the major ones are Jain Irrigation System Limited, Netafim Limited, Lindsay Corporation, Eurodrip S.A, The Toro Company, EPC Industries Limited, Rivulus Irrigation, Rain Bird Corporation, and Driptech Incorporated.

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