Micro Irrigation Systems Market

Micro Irrigation Systems Market

Market Synopsis:

Global Micro Irrigation Systems market is valued at USD 10260.17 Million in 2022 and is projected to reach a value of USD 20444.05 Million by 2030 at a CAGR of 9.00% over the forecast period. The efficient use of water resources in drought conditions, low-cost irrigation techniques, and rise in the utilization of artificial intelligence in Micro Irrigation Systems are projected to significantly contribute to the growth of the microirrigation market in upcoming years. The major factors that drive the growth of the Micro Irrigation Systems market are an increase in the demand for food and agricultural products and growth in water supply and storage problems. Moreover, the shifting of farmers from traditional irrigation methods to technologically advanced irrigation systems is further estimated to increase the demand for the Micro Irrigation Systems market in the coming years. The factors such as rapid growth in production of greenhouse vegetables, higher yield demand from the limited areas, and rise in the utilization of artificial intelligence in Micro Irrigation Systems are projected to witness the highest market growth during the forecast period. The higher initial investment such as the cost of the micro-sprinkler irrigation system and cost of the drip system and the continuous requirement of maintenance are expected to hamper the Micro Irrigation Systems market growth during the forecast period. Furthermore, the sustainable agricultural practices of several companies such as public and private support for running irrigation projects in developing countries, and expansion of microfinance networks are expected to provide key opportunities in the Micro Irrigation Systems market in the coming years.

Market Segmentation:

The Micro Irrigation Systems market is segmented on the basis of type, end-user, and crop type. On the basis of types, the market is segmented as Drip, and Micro sprinkler. On the basis of end-user, the market is segmented as Farmers, Industrial users, and other end users (usage by government authority, community parks, and sports ground). By crop type, the market is segmented as Orchard crops & vineyards, Plantation crops, Field crops, and other crop types (turf & ornamentals, and silage & forage crops).

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Drip irrigation is expected to hold the largest market share by the year 2024

The drip segment is expected to gain significant growth in terms of revenue by the year 2024. The potential of drip irrigation systems to encourage yield and avoid weed growth is significantly increasing the product penetration during the forecast period. Moreover, the diversification of the Micro Irrigation Systems to save water and nutrient contents of soil from above or below the surface will further generate a new growth route for the participation of the Micro Irrigation Systems market. The increasing adoption of sprinkler irrigation among several countries where the demand for row crops is high is expected to drive the growth of the Micro Irrigation Systems market in the coming years.

Orchard crops & vineyards are accounted to hold the largest market share during the forecast period

In the Crop type segment, the orchard crops sector is accounted to hold the major share in the microirrigation market during the forecast period. Various type of vegetables, fruits, and other horticulture crops needs a specific environment to grow and the microirrigation type of irrigation is suitable for this type of crop and is expected to drive the Micro Irrigation Systems market growth in coming years. Increasing demand for cash crops and high-value crops across the globe is projected to fuel the microirrigation market growth during the forecast period. High eligibility of the systems like drip irrigation for the production of different types of orchard crops like beetroot, tomato, banana, and others are boosting the orchard crops segment growth in the Micro Irrigation Systems market.

Asia Pacific is expected to grow at the highest CAGR during the year 2021

The Asia Pacific is expected to grow at a fast rate during the forecast period owing to the increasing area under microirrigation. The rising adoption of advanced agricultural tools and smart farming across prominent crop-growing countries in APAC like India and China are expected to enhance the market size within the region. The government across various countries of Asia are encouraging farmers to adopt the sustainable method of crop production by using irrigation method which consumes less water. The current government bodies in China and India are providing high subsidies to promote advanced microirrigation practices like drip and sprinkler irrigation which is expected to boost the Micro Irrigation Systems market growth during the forecast period

North America is projected to hold a considerable market share in the microirrigation market during the forecast period. Growth in the awareness about the advanced farming techniques across countries like the United States and Mexico is projected to drive the Micro Irrigation Systems market growth in North America. The adoption of microirrigation techniques among farmers is increasing and therefore driving the growth of the North American region.

Competitive Landscape:

The leading market players are diligently embarking on the purchase of relevant companies across several leading economies to increase their presence and strength in the microirrigation market. The major key players in the Micro Irrigation Systems market are Jain Irrigation Systems Limited (India), Netafim Limited (Israel), The Toro Company (US), Lindsay Corporation (US), EPC Industries (India), Nelson Irrigation Corporation (US), Rain Bird Corporation (US), T-L Irrigation (US), Hunter Industries (US), Rivulis Irrigation Ltd (Israel), Chinadrip Irrigation Equipment Co., Ltd. (China), Elgo Irrigation (Israel), Antelco Pty Ltd (Australia), Microjet Irrigation Systems (South Africa), Irritec (US), Metro Irrigation (India), Irritec S.p.A. (Italy), Irrigation Direct Canada (Canada), Drip Research Technology Solutions (Turkey), DripWorks Inc. (US), and Raindrip, Inc. (the US).

Micro Irrigation Systems Market is segmented as follows:

Micro Irrigation Systems Market is tabulated as follows: