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Global greenhouse irrigation system market to reach $1.3 bn by 2020
Oct. 8, 2015
The global greenhouse irrigation system market is projected to reach a value of USD 1.3 Billion by 2020, according to a report. In 2014, the market was dominated by Asia-Pacific, followed by Europe. The Asia-Pacific market is projected to grow at the highest CAGR owing to rapid growth in land area under greenhouses in the region.
The global greenhouse irrigation system market refers to the market comprising various types of irrigation system utilized within a greenhouse. Greenhouse technology provides favorable climatic conditions to plants. Crops grown under greenhouses need adequate quantity of water, at frequent intervals, to ensure good vegetative growth and better yield. Greenhouse crops are irrigated by means of applying water to the surface through drip tubes, overhead sprinklers, and booms, or by applying water through subsurface irrigation, or by using a combination of these delivery systems.
The market has been segmented on the basis of application, type, and geography. Drip irrigation system, micro sprinkler irrigation system, and boom irrigation system are the segments based on different types of greenhouse irrigation systems. In 2014, drip irrigation held the largest share of the global greenhouse irrigation system market. On the basis of application, the market has been segmented into vegetables, flowers & ornamentals, nursery crops, and fruits plants. The vegetables application segment dominated the global greenhouse irrigation system market in 2014. The market has also been analyzed for the following regions: North America, Asia-Pacific, Europe, and rest of the world (RoW). Asia-Pacific has the largest land area under greenhouse irrigation systems in 2014.
The global greenhouse irrigation system market is a competitive market, with firms, such as Netafim Ltd. (Israel), Jain Irrigation Systems Limited (India), Rain Bird Corporation (U.S.), Lindsay Corporation (U.S.), Rivulis Irrigation Ltd. (Israel), Nelson Irrigation Corporation (U.S.), The Toro Company (U.S.), Irritec S.p.A (Italy), and EPC Industries Limited (India) among others, competing and expanding their market shares globally. These companies adapt numerous market strategies, such as innovative product development, partnerships, mergers & acquisitions, and expansion of existing facilities to gain market shares. Apart from these companies, various other small firms are present in the global greenhouse irrigation system market.
Source: MarketsandMarkets (M&M)
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