Press Release: April 11, 2020
The global Micro Irrigation System market is projected to reach USD 23.4 billion by the end of 2026, growing at a CAGR of 12.2% during 2019-2026.
In the period of modernisation, various new technologies have evolved in the field of irrigation. Micro irrigation is one such technique which has revolutionized the crops irrigation methods and it is widely accepted and implemented across various countries. In micro irrigation water is supplied below and above the surface of soil as discrete drops, continuous drops or tiny streams through emitters connected to the water supply. There are two types of micro irrigation techniques, drip irrigation and sprinkler irrigation. In drip irrigation, water is supplied to roots of the plants through small diameter pipes in which water flows at very small rates whereas in sprinkler irrigation, water is sprayed to the upper surface of soil using spray heads which is like natural rainfall.
According to World Bank, agriculture sector is one of the major economic activity across the globe and makes significant contribution to the world economy and the sector uses 70% of freshwater consumption throughout the world. Significant increase in world’s population and rapid environmental changes is leading to water scarcity. Need for efficient irrigation techniques to conserve water is paving way for micro irrigation system in the market.
Traditional systems of irrigation are losing popularity over the micro irrigation system as these systems consume less water coupled with high crop yields. The efficient use of fertilisers, reduced labour costs and enhanced farms productivity are the factors responsible for driving the global micro irrigation system market.
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The growing requirement of food and water as a result of increase in the population is creating a need for efficient irrigation techniques will further create demand for micro irrigation system. The global micro irrigation market is expected to see a promising growth during the forecast period owing to various government initiatives taken to promote micro irrigation across the world. In addition, the flexibility it provides to do irrigation according to the necessity and control over the production timing are some factors propelling the growth of global micro irrigation system market.
Based on Type, Sprinkler System segment is anticipated to hold the largest share in the market during 2019-2026
Sprinkler System segment accounted for the largest share of the market in 2018 owing to its uniform distribution of water and wide-spread coverage area feature along with its low cost compared to drip system.
Based on End-user, the corporate farming segment held the largest market share in 2018 as majority of the revenues are coming from North America and Europe where large farms dominate, and they have deep pockets to invest in new technologies to increase crop quality and yields.
Based on Crops, Orchard and Vineyard crops held the largest market share in 2018 and it is expected to dominate the market in the forecast period owing to the necessity of proper application of water to the plants along with high density production of these crops. These crops require efficient irrigation method as the production of such crops involves big investment and high risk.
Based on geography, Asia-pacific is expected to grow at the highest CAGR during the forecast period owing to rising government subsidies for implementing micro irrigation system and shrinking available water for agriculture purpose across the major countries. As agriculture plays a major role across regional economies and scarcity of water is further propelling the demand for micro irrigation system in the region.
The global Micro Irrigation System market has been segmented based on type, crops, application and key geographies. Based on the type, the global micro irrigation system market has been segmented into Sprinkler System and Drip System. Based on sprinkler system components, the market is segmented into Pipes, Fittings & Nozzles, Pressure Regulators and Others. Based on drip system components, market is segmented into Tubing, Filters & Valves, Pressure Regulators and Others. Based on crops, the market has been segmented into Orchard and Vineyard crops, Plantation crops, Field crops, Forage & Grass and Others. On the basis of end user market is segmented into Family Farms, Corporate Farming and Others and by geography.
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Key questions answered in this research report:
• At what pace is Micro Irrigation System market growing, globally? What will be the growth trend in future?
• What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints over the coming years?
• What are the regional Micro Irrigation System revenue and forecast breakdowns?
• Which are the major regional revenue pockets for growth in the Global Micro Irrigation System Market?
• What are the various application areas and how they are poised to grow?
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