In terms of revenue, the Global Micro Irrigation Systems Market is expected to reach 15,873.98 USD Million by 2028, growing at a CAGR of 9.10% from 2022 to 2028.
In recent years the inclination of farmers towards micro-irrigation technology is rapidly increasing. The awareness among them and the importance of water usage and management is one of the major driving factors for them to shift to a micro-irrigation system. Also, government subsidies on providing micro-irrigation equipment are key reasons for the agricultural sector to use this technology. Although the initial cost of the project is high during runtime this technology has proven to be a good solution for saving water. The global micro irrigation market is highly competitive with the presence of large and small-scale drip and sprinkler irrigation equipment producers and marketers across numerous regions.
Key Findings:
- The drip irrigation segment is anticipated to dominate the Micro Irrigation Systems Market. In this system, water is applied to each plant separately in small, frequent, precise quantities through dripper emitters. It is the most advanced irrigation method with the highest application efficiency.
- The end-user segment is accounted for the largest market share in 2021 for the Micro Irrigation Systems Market. The advancement in the agricultural sector and productivity owing to the adoption of micro-irrigation systems have profited major developed and developing countries to generate maximum output.
- North America is the largest regional segment. This surge is attributed to the rising demand for micro-irrigation systems in developing economies such as India, China, and Indonesia.
Some of key players in Micro Irrigation Systems Market include, [object Object].
Micro-irrigation technologies are increasingly seen as a means of addressing the growing competition for scarce water resources. Appropriate low-cost drip systems have shown to have positive effects on yield, incomes, and food security. With the right institutional support, these systems can help poor farmers improve water productivity and incomes.
According to International Water Management Institute (IWMI), one-third of the world’s population is expected to face water scarcity by the year 2025. The majority of the regions in Asia, the Middle-East and Sub-Saharan Africa, home to some of the largest concentrations of rural poverty in the world will face scarcity in water. Various NGOs, policymakers, Government officials, and farmers are gaining technical, institutional and policy interventions to sustain this challenge.
Micro-irrigation technologies are used in water-scarce areas of developed and underdeveloped countries which constitute interventions with the ability to use water more efficiently in irrigated agriculture. These technologies can improve productivity in terms of rising incomes through crop yields and enhance the food security of households. Numerous studies have established the gains from micro-irrigation adoption and several government and non-government organizations are engaged in actively promoting the technologies.
North America is expected to dominate the global Micro Irrigation Systems Market in 2021 and is likely to continue the same trend during the forecast period. An increase in government initiatives and support in micro-irrigation is likely to generate demand in this region for this market in near future. Increasing service facilities for developing micro irrigation systems in countries such as India & China are further adding spotlight. Significant improvements in the agricultural infrastructure, especially in the developing economies, are providing a thrust to the Micro Irrigation Systems Market growth.
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