July 17, 2024
MENA Drip Irrigation System Market

The Expanding MENA Drip Irrigation System Market Is Driven By Growing Need For Efficient Water Utilization

Drip irrigation systems help reduce water wastage, increase the longevity of crops and provide consistent watering for better yields. They deliver water slowly and directly to plant roots through a network of valves, pipes, tubing and emitters. This helps ensure efficient utilization of water resources and prevents over-watering or under-watering of plants. With growing concerns around water scarcity and the need for sustainable agriculture in the Middle East and North Africa (MENA) region, the adoption of drip irrigation systems is accelerating.

The global MENA drip irrigation system market is estimated to be valued at US$ 508.63 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends driving the MENA drip irrigation system market growth is the increasing focus on sustainable and efficient water management practices in agriculture. Governments in the region are promoting drip irrigation through various policy initiatives and subsidies to encourage their adoption among farmers. Growing concerns around water scarcity due to factors like rising populations, urbanization and effects of climate change are also raising awareness about the need for judicious water utilization. Drip irrigation enhances crop resilience to drought conditions while maximizing yields through precise irrigation. Technological advancements are further improving the efficiency, functions and ease of use of modern drip systems. Advancements in materials, emitters, tapes and networking capabilities are expanding the potential of these systems. This is supporting the higher deployment of drip irrigation solutions across various farms in the region.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to the presence of established players in the market. However, low start-up costs can attract new entrants.

Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitute products and regional players providing similar products at competitive prices.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitutes. However, suppliers of raw materials have high bargaining power.

Threat of new substitutes: The threat of substitutes is moderate as drip irrigation systems have few close substitutes and are considered a standard for water conservation.

Competitive rivalry: The competitive rivalry is high due to the presence of numerous regional and international brands offering similar products.

Key Takeaways

The MENA Drip Irrigation System Market Demand  is expected to witness high growth owing to growing demand for water-efficient irrigation systems in countries facing water scarcity issues. The global MENA drip irrigation system market is estimated to be valued at US$ 508.63 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030.

Regional analysis: The GCC region dominates the MENA drip irrigation system market and is expected to maintain its lead during the forecast period. Countries such as Saudi Arabia, the UAE, and Oman are the major importers of drip irrigation components and systems in the region. Furthermore, government initiatives and investments to promote water conservation practices are fueling the demand.

Key players: Key players operating in the MENA drip irrigation system market include Auntie Anne’s, INC, Cinnabon Franchisor SPV LLC, Inc, Hardee’s Restaurants LLC, Firehouse Restaurant Group, Inc, Jack in The Box INC., Restaurant, Brands International Inc, INC, and YUM! BRANDS, INC. These players are focusing on new product launches and partnerships to expand their presence in the high-growth MENA region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it