Global Drip Irrigation Systems Market is Estimated to be Worth $3.21 Billion by 2019, at a CAGR of 11.9% From 2014 to 2019
Jun 18, 2015, 08:30 ET
FORT WORTH, Texas, June 18, 2015 /PRNewswire/ --
The global drip irrigation systems market report defines and segments the concerned market, with analysis and forecast of revenue. The global drip irrigation systems market was valued at $1.83 billion in 2014, and is projected to reach $3.21 billion by 2019, at a CAGR of 11.9% from 2014 to 2019.
Browse through the TOC of global drip irrigation systems market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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The global drip irrigation systems market is expected to witness significant growth in the coming years due to multiple factors. These include major agriculture firms intending to continue and preserve their market share or produce incremental income streams, governmental regulatory bodies actively participating in environmental conservation issues, growers looking for fresh ways to generate higher yield, and increased demand for agricultural products. In addition to the above mentioned factors, the presence of top manufactures of drip irrigation components also drives the widespread adoption of drip irrigation systems.
There is a high demand for drip irrigation systems across the globe, especially in orchard crops. The orchard crops segment dominated the drip irrigation systems market in 2014, followed by the vegetable crops segment and vineyard segment registering shares of 28.3% and 20.5%, respectively in 2014. The increasing demand for fruits and vegetables is the major driver for the drip irrigation systems market.
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Demand for drip irrigation systems is escalating in varied geographical regions around the world. China, India, and other developing nations are stepping up their agricultural output and encouraging farmers to use modern methods of irrigation with a view of achieving higher yield. The ever-increasing population in the Asia-Pacific region and high food demand are key forces driving the overall demand for irrigation systems. It is expected that farmers, especially those in more developed agricultural economies, will strive to enhance productivity to maximize returns from each acre. This is expected to maintain sustained growth over the next five years in the global drip irrigation systems market.
This report offers a comprehensive overview of market share and value chain analysis, in addition to varied market dynamics such as drivers, restraints, and upcoming opportunities. In addition to this, it also presents competitive landscape and company profiles of key players thriving in this market.
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