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Outdoor & Greenhouse Irrigation System Market size is estimated to reach $1,567.3 million by 2025 and is poised to grow at a CAGR of 9.94% during the forecast period 2020-2025. Outdoor & Greenhouse Irrigation System is a way to grow crops or plants within a greenhouse and by using various techniques. This irrigation system includes various technologies such as drip irrigation system, micro sprinkler irrigation system, boom irrigation system. The outdoor & greenhouse irrigation system is being used to grow vegetables, flowers & ornamentals, fruit plants and nursery crops. The increase in demand for fresh foods with high nutritive value, need for higher yields using limited water has led to the growth of outdoor & greenhouse irrigation system market. One of the major factors driving the growth of the outdoor & greenhouse irrigation system market is the increasing population and government support.
By Technology – Segment Analysis
The global Outdoor & Greenhouse Irrigation System market based on Mode of Technology, can be further segmented into Drip Irrigation System, Micro Sprinkler Irrigation System, and Boom Irrigation System. The Drip Irrigation System segment registers for the highest revenue in 2019 and is estimated to grow at highest CAGR over the forecast period (2020-2025). The drip irrigation system is estimated to grow owing to factors such as government initiatives, water conservation activities, enhanced production and lower production costs.
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By Crop Type – Segment Analysis
The global Outdoor & Greenhouse Irrigation System market based on Mode of Crop Type, can be further segmented into Vegetables, Flowers & Ornamentals, Fruit Plants, and Nursery Crops. The Vegetables segment registers for highest revenue in 2019 and projected to grow at the highest CAGR during the forecast period (2020-2025) owing to the increasing demand for fresh and green vegetables produced in city environments with minimum space and less water utilization.
By Geography – Segment Analysis
Asia Pacific registered for the highest revenue in 2019 and is set to grow at highest CAGR over the forecast period (2020-2025) owing to the growing population, especially in India and China, the demand for more food, improved food productivity and government initiatives towards the sustainable development goals is set to lead the Asia Pacific market. Besides Asia Pacific, Europe is estimated to grow its demand during the forecast period owing to the significant need to enhance agriculture production, in order to sustain the rapidly increasing population.
Drivers – Outdoor & Greenhouse Irrigation System Market
Rise in Demand
There is a rise in demand of the global Outdoor & Greenhouse Irrigation system market, owing to insufficient rainfall, a decrease in arable land, depletion of water resources, and an increase in the world’s population and an increase in food needs. Rapid population growth, especially in emerging economies such as India, China and Brazil, is increasing demand for food grains, and vegetables.
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Challenges – Outdoor & Greenhouse Irrigation System Market
High Initial Investment
The high initial investments for setting up the outdoor & greenhouse irrigation system is acting as a challenge for the growth of the market. The other major restraining factor for the growth of the outdoor & greenhouse irrigation system market is the lack of consumer awareness.
Outdoor & Greenhouse Irrigation System Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Outdoor & Greenhouse Irrigation System Market. Key companies of this market Netafim Ltd, Rivulis Irrigation, Lindsay Corporation, The Toro Company, Jain Irrigation Systems Ltd, EPC Industries Limited, Rain Bird Corporation, Valmont Industries Inc, Nelson Irrigation Corporation, and Irritec S.p.A.
In July 2020, Netafim announced that it has entered into a partnership with Sentek Technologies to distribute Sentek’s line of industry leading soil moisture sensors.
In September 2019, The Toro Company and Tractor Supply Company announced a strategic partnership, which helps to expand Toro’s reach into the rural lifestyle retail market and further strengthens Tractor Supply’s product offering.
Geographically, the Asia Pacific area is poised to see extraordinary development owing to the growing population, especially in India and China, the demand for more food, and is set to continue during the forecast period (2020-2025).
The global demand for Outdoor & Greenhouse Irrigation System is increasing significantly owing to the rise in demand for food grains and vegetables.
The initial investment requires for outdoor & greenhouse irrigation system acting as a challenge in the market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Outdoor & Greenhouse Irrigation System Market report.
Related Reports :
A. Micro Irrigation System Market
B. Hydroponics Market
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