Drip Irrigation Systems Market to Exceed US7.4 mn by 2020

Posted by ashutosh sable on December 1st, 2017

The Middle East and North Africa drip irrigation systems market is expected to reach US7.4 mn by the end of 2020. The market was recorded at close to US.3 mn in 2013 and is progressing at a CAGR of 18.30% between 2014 and 2020, according to a research report released by Transparency Market Research, titled “Drip Irrigation Systems Market - Middle East and North Africa Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”.

According to the report, the MENA drip irrigation market is primarily driven by the tightening government regulations over water conservation and the growing demand for efficient agricultural water management systems. Drip irrigation provides one of the most efficient methods of conserving water in the agriculture industry.

Drip irrigation is also increasingly preferred due to its synergy with greenhouse farms, which are increasing in number.The report’s regional analysis of the MENA drip irrigation market shows that the Middle East drip irrigation market is exhibiting a CAGR of 18.30% in the given forecast period. The report’s analysis reveals a growing penetration of drip irrigation systems in Israel, Iran, and Turkey. Nearly 72% of the revenue in the MENA drip irrigation market in 2013 was earned by the Middle East.The North Africa drip irrigation market is growing at a slightly faster CAGR of 18.50%, owing to a greater demand for drip irrigation from Sudan, Egypt, and Morocco.

The report attributes the faster growth rate of the North Africa drip irrigation market to the rapid expansion of the agriculture industry in the region. However, the Middle East had dominated the MENA drip irrigation market in 2013 and is expected to continue leading the market, owing to a faster penetration rate and an already-significant revenue stake.According to the report, the agriculture segment held 49.0% of the MENA drip irrigation market in 2013 in terms of applications. The segment is expected to maintain its dominance, progressing at an 18.90% CAGR in the given forecast period.

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In terms of components, the MENA drip irrigation market was led by the tubing segment in 2013, with a share of 39.50%. The segment is expected to display a 19.90% CAGR between 2014 and 2020, maintaining its dominance in the MENA drip irrigation market. Tubing is a highly preferred segment due to the advantages it provides, such as durability, cost-effectiveness, and a very high resistance to wear and tear.

Key players in the MENA drip irrigation market are Netafilm, Ltd., Elgo Irrigation Systems Ltd., Hunter Industries, Inc., Jain Irrigation Systems, Eurodrip SA, The Toro Company, and Rain Bird Corporation. According to the report, the top companies in the MENA drip irrigation market are mostly focused on consolidation and expansion activities to increase or maintain profits.