The global drip irrigation market size is projected to reach USD 9.37 billion by the end of 2026. The increasing number of farming activities will bode well for the market in the coming years. According to a report published by Fortune Business Insights, titled “Drip Irrigation Market Size, Share & Industry Analysis, By Component (Emitters, Drip Tubes/Drip Lines, Pressure Pumps, Filters, Valves, and Others), Crop Type (Field Crops, Orchard Crops, Landscape & Turf, and Others), Application (Surface and Subsurface), and Regional Forecast, 2019 – 2026,” the market was worth USD 4.63 billion and will exhibit a CAGR of 9.3% during the forecast period.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Increasing Number of Product Launches Will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The increasing number of product launches has emerged in favor of market growth. Due to the constantly rising demand for drip irrigation systems across the world, several companies are looking to invest hugely in the development of advanced concepts. The adoption of modern technologies has yielded a few exceptional products in recent years. In August 2019, Rivulis Irrigation announced the launch of a new product for drip irrigation system. The company introduced ‘Manna,’ a satellite based software solution which will be used in drip irrigation systems across the country. The company’s latest product will have a massive impact on the growth of the overall market in the coming years.
Information source:
https://www.fortunebusinessinsights.com/drip-irrigation-market-102684