Drip Irrigation Systems Market (Components - Drippers, Tubing, Backflow Preventers, Valves, Filters, Pressure Regulators and Fittings) - Middle East and North Africa Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 01/12/2017 -- The leading players operating in the Middle East and North Africa (MENA) drip irrigation systems market are mostly focused on expanding their footprint and consolidation to continue maintaining profits, finds Transparency Market Research (TMR) in a new study. Some of the leading players currently holding strong position in the MENA drip irrigation systems market are Elgo Irrigation Systems Ltd., Netafilm, Ltd., Jain Irrigation Systems, Hunter Industries, Inc., Rain Bird Corporation, The Toro Company, and Eurodrip SA.
According to TMR, the MENA drip irrigation system market is exhibit an impressive 18.3% CAGR between 2014 and 2020. At this pace, the market's valuation will rise from US$98.3 mn in 2013 to US$317.4 mn by the end of 2020. In terms of component, the tubing segment emerged dominant with a share of 39.50% in the overall market in 2013. Through the course of the forecast period, the segment will continue remaining at the lead exhibiting a CAGR of 19.90%. Tubing has become a highly preferred segment due to the benefits it offers such as high resistance to wear and tear, better durability, and cost-effectiveness.
Middle East to Continue Dominating MENA Drip Irrigation Systems Market
Regionally, the market will witness a higher pace of gains in North Africa. However, the Middle East will continue dominating the market through the forecast period due to the faster penetration of drip irrigation systems in the region and an already-established revenue stake. As per TMR, nearly 72% of the revenue generated by the MENA drip irrigation system market was contributed by the Middle East in 2013.
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Expansion of Agriculture Sector in MENA to Boost Market
Agriculture being the strongest segment in the MENA drip irrigation system market, the growth witnessed in the sector across Iran, Turkey, Israel, and Egypt will ensure positive outcome for the market. Drip irrigation systems are required to ensure improved agricultural yield. Because these systems offer better features than other irrigation techniques, their demand is likely to increase at a high pace in the forthcoming years. Hence the increasing agricultural development in MENA will fuel the demand for drip irrigation systems.
Efforts by Leading Economies to Improve Agricultural Yield to Have Positive Impact
With countries such as Sudan, Qatar, and Morocco increasingly focusing on the development of their agricultural sector, they are most likely to deploy advanced technologies to help improve the agricultural yield. Spurred by these factors, the demand for drip irrigation systems will increase at a rapid pace in MENA in the coming years. The market is also expected to gain as leading economies in the region focus on achieving self-sufficiency in food production by reducing the dependence on foreign imports, the deployment of drip irrigation systems will gain pace in response.
Demand for Drip Irrigation to Increase due to Benefits it Offers
"Drip irrigation systems can be efficiently used in undulated land surfaces and they prevent farms against drought, which are chief factors driving the MENA drip systems market's growth," added a lead TMR analyst. In addition, greenhouse production is expected to increase significantly in the coming years, as the MENA countries focus more on the production of diverse vegetables, fruits, and crops. Since drip irrigation systems come with features and technologies highly suitable for irrigation of greenhouses, their demand and application is projected to grow substantially in the near future.