The Micro-irrigation systems market is expected to grow exponentially by more than 13% CAGR through 2031. Increasing demand for food, particularly in rising economies in Asia and geographical regions generates demand for advanced irrigation technologies, in keeping with insights from the newest study from Future Market Insights (FMI) ESOMAR-certified analysis and consulting firm. The report provides a close analysis of additional than 20 high-growth regional markets, with comprehensive details on the prospects of micro irrigation systems through the approaching decade.
Micro irrigation systems are gaining importance in the agriculture sector, owing to their efficacy in minimizing the effects of drought conditions, at comparatively low costs. Increasing demand for water and concerns over scarcity of this natural resource, with its effects in terms of quality and crop yield will play key roles in driving the growth of the market. The growing interest in greenhouse farming is also driving micro-irrigation systems in specialized farms.
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The study by FMI has analyzed the global demand for micro irrigation systems, in terms of macroeconomic factors, the impact of the covid-19 pandemic, and market landscape. As per the scope of research conducted by FMI, the market has been studied on the basis of consumer interests, product segments, and regional influences, in addition to qualitative data on the players operating in the market covering both supply and demand.
Key Takeaways from Micro Irrigation Systems Market Study
- Drip irrigation systems are estimated to hold the lead, supported by lower purchase and installation costs, in addition to low water use.
- Micro-farming applications will reflect a relatively higher rate of growth, driving demand for the lateral move and central pivot products.
- The United States will hold a significant market share owing to the concentrated presence of market leaders in the country.
- India and China will account for a high rate of growth, supported by an agrarian economy and favourable government initiatives in the industry.
- Access to technologies associated with mechanized irrigation systems is generating opportunities in the Middle East and Africa region.
“The growing need for water conservation efforts driven by rising population levels and decreasing global water reserves are key factors that drive the micro irrigation systems market. Stringent regulations associated with water becoming a rare commodity, has pushed players in the agricultural sector to invest in novel solutions to enhance the productivity of a limited volume of water. Micro irrigation systems are capable of optimizing water usage, which in turn will support market expansion for the duration of the forecast period,” says the FMI analyst
The micro-irrigation systems market is expected to grow at a healthy rate from 2021 to 2031. With the essential nature of irrigation in agriculture, coupled with growing concerns over water scarcity issues, market players are expected to be focused on research and development to improve on resource optimization objectives. Field testing and collaborations with regional players is likely to gain the interest of market players through the assessment period.
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The global micro irrigation system market is moderately fragmented, with a number of regional players holding notable market share, which is likely to continue for the duration of the forecast period. Leading manufacturers are increasingly investing in new technology innovations in addition to strategic geographic expansion efforts.
Some of the leading players in the micro irrigation systems market include but are not limited to Netafim Ltd., Jain Irrigation Systems Ltd., The Toro Company, Rain Bird Corporation, Hunter Industries, Valmont Industries, Rivulis Irrigation Ltd., Lindsay Corporation, Reinke Manufacturing Company Inc., EPC Industries Ltd., T-L Irrigation, Elgo irrigation, Sistema Azud SA, Nelson Irrigation Corporation, Chinadrip Irrigation Equipment Co. Ltd., Kisan Irrigation Ltd., Finolex Plasson Industries Pvt. Ltd., Ripple Aquaplast , Irritrol, Eurodrip SA.
Valuable Insights into Micro Irrigation Systems Market Study
Future Market Insights brings the detailed research report of the latest industry trends affecting growth in the global micro irrigation systems market. The market has been segmented in terms of system type and end use to offer a comprehensive overview of the industry. The study provides in-depth analysis of the key factors enabling growth in these segments across seven key regions.
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