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Global Drip Tape Market is Expected to Reach USD 401.48 Million by 2026 : Fior Markets

Drip Tape Market by Type (Labyrinth, Inner Inlay), Application (Indoor Drip Irrigation, Orchard Drip Irrigation, Field Drip Irrigation), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026

/EIN News/ -- Newark, NJ, Feb. 21, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global drip tape market is expected to grow from USD 138.88 Million in 2018 to USD 401.48 Million by 2026 at a CAGR of 14.19% during the forecast period 2019-2026. Growing popularity of drip tapes, increasing adoption of single-use drip tapes among farmers and the increasing popularity of drip tapes that prevent soil suction are the factors fuelling the drip tape market.

In the recent few decades, water facilities have seen a number of technological progressions for the better harvest yield. Additionally, a water emergency is one of the serious issues related to irrigation facilities around the globe, to resolve this drip irrigation system are used. Drip irrigation utilizes valve, tubing, pipe, and producers that enable the water to dribble gradually to the underlying foundations of plants and harvests, in this manner sparing the water. The increasing adoption of a dribble water system framework around the globe is required to fuel the interest for a worldwide trickle water system framework over the estimate time frame. Drip irrigation is one type of micro-irrigation facility that has the potential to save water and nutrients by letting water to drip slowly to the roots of plants, either from above the soil surface or buried below the surface. The objective is to direct water straight into the root zone and minimize the evaporation process. Drip irrigation systems dispense water through pipes, a network of valves, tubing, and emitters. Based on how well designed, installed, maintained, and operated it is, a drip irrigation system can be more effective than other types of irrigation systems, such as surface irrigation or sprinkler irrigation.

Growing acceptance of drip tapes, growing acceptance of single-use drip tapes among farmers, and the soaring popularity of drip tapes that prevent soil suction are the key driving factors for the drip tape market. The drip tapes are mostly for short duration crops and are very lightweight may limit the growth of the market. However, the growing popularity of greenhouse farming practice is expected to boost the drip tape market over the forecast period.

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The major players in global drip tape market include Netafim Irrigation India Pvt. Ltd., TORO, Rain Bird, Irrigation Systems Ltd., Valmont Industries, Doncarb Graphite, Lindsay Corporation, Nelson Irrigation, John Deere, Hunter Industries, Rivulis Irigation, Mahindra EPC, T-L Irrigation, Dayu Water-Saving, Yasheng, Luckrain and Qinchuan Water-Saving among others. The Netafim, TORO, Rain Bird, JAIN, Valmont, and Yasheng are the top leading players of the market.

  • Major players are continuously focused on new product developments and venture capital investments to obtain market share. For instance in May 2019, Toro announced a new drip tape recycling service in California. The on-farm pick-up facility is now accessible to all Toro growers with qualifying Toro drip tape purchases. The facility is a result of Toro’s ongoing obligation to help farmers increase production with effective, maintainable drip irrigation practices.
  • The big players are undertaking a strategy which involves new product launches, merger & acquisitions and collaborations & agreements to improve their market position and to expand their competitive advantage. For instance January 2017, Rivulis Irrigation Ltd. of Israel and Eurodrip S.A. of Greece had merger agreement. The creating a global leader in micro irrigation.

Labyrinth segment dominated the global drip tape market with highest market share of 53.05% in 2018

Type segment includes labyrinth and inner inlay. The labyrinth segment dominated the global drip tape market with highest market share of 53.05% in 2018. The popularity of labyrinth tapes because of their clogging resistance which helps in avoiding additional maintenance costs will drive market growth in this segment.

Indoor drip irrigation segment is expected to hold the largest share of 42.16% during the forecast period

Application segment covers indoor drip irrigation, orchard drip irrigation, and field drip irrigation. The indoor drip irrigation segment is expected to hold the largest share of 42.16% during the forecast period owing to increased awareness of the advantages of drip tape for agricultural use.

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Regional Segment Analysis of the Drip Tape Market

  • North America (U.S. , Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region held the largest market share of approximately 38.27% in 2018 where as the North America region held the second dominant position in the global drip tape market. Asia Pacific is fastest growing region due to the initiatives and subsidies provided by governments of countries in this region for installing drip irrigation systems in agricultural fields. This region is showing a tremendous shift from the installation of basic irrigation facilities to the acceptance of precision irrigation systems through technological upgrading. The attention on agriculture has shifted from traditional crops to more commercial crops. Due to these changes, irrigation facilities are expected to advance their irrigation management and preferably their infrastructure. Drip irrigation has become an important part as commercial crops are sensitive to the amount of water required and the time taken for its delivery. Increasing drip irrigation activities, and rapid technological advancements are some of the factors that led to the growth of drip tape market in North America region.

About the report:

The global drip tape market is analysed on the basis of value (USD Million), volume (Mn Meter), consumption (Mn Meter), imports (Mn Meter) and exports (Mn Meter). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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About Fior Markets

Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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