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A recent report published by Infinium Global Research on micro irrigation systems market provides an in-depth analysis of segments and sub-segments in the global as well as regional micro irrigation systems market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional micro irrigation systems market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global micro irrigation systems market. According to the report the global micro irrigation systems market is projected to grow at a CAGR of 18% over the forecast period of 2018-2024.
The micro irrigation system is defined as a scientific method of irrigation carrying desired water and nutrients directly to the root zone of the plant. Water is required by plants for the metabolic activities, are an important constituent of cells and more important is a carrier of a large number of nutrients. Water plays an important role in the overall growth of the plant. However, with the growing awareness concerning the water conservations and scarcity of water across various parts of the world has led to the development and adoption of the micro irrigation system. With the use of micro irrigation systems, it is estimated that 70% of the water can be saved and at the same time a micro irrigation system is ideal for terrain with problem soil and water. Micro-irrigation is classified into many types includes Drip Irrigation, Sprinkle Irrigation, and Surface Trickle.
To make agriculture productive, help produces more from the available land, water, and labor resources and generate higher farm income are the primary factors fuelling the growth of the micro irrigation systems market. Furthermore, benefits such as increased yield, Increased Fertilizer efficiency, less problem of disease, decreased energy requirement and pest offered by micro irrigation systems is rise the demand of the market. Government policies across various countries play an important role in helping farmers with the installation of a micro-irrigation system in their farms, by providing subsidies to small-scale farmers. For instance, the Government of India has been implementing Sponsored Scheme on micro irrigation to enhance water use efficiency in the agriculture sector by promoting appropriate technological interventions like drip & sprinkler irrigation technologies and encouraged farmers to use water saving and conservation technologies. Going further, rising demand for greenhouse vegetable production, uniform water application and raising awareness among the farmers related to the benefits of this system is escalating the growth of the market. However, high initial cost investment and high maintenance cost of micro irrigation systems are the major constraints of the market growth. Technological advancements in the micro irrigation systems and subsidiaries offered by several governments to contribute lucrative growth opportunities in the near future.
Among the geographies, Asia-Pacific held the largest market share in the micro irrigation systems market. The Asia-Pacific is an agricultural region with its maximum income from crop cultivation. The countries such as China, India, and Indonesia are producing fruits & vegetables along with a rise in demand from the government to grow forage and turf grasses. Moreover, growing awareness related to the benefits of using micro irrigation system also boosts the market in Asia-Pacific region. In 2015, Micro Irrigation component of On-farm Water Management (OFWM) has been subsumed under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY). North America holds significant growth in this market. Many leading key players in Micro Irrigation Systems Market are focused on developing reliable micro-irrigation products. Furthermore, rising awareness among farmer related to government scheme benefits has a positive impact on the growth of the market over the forecast period.
The report on global micro irrigation systems market covers segments such as type, component, crop type, and application. On the basis of type, the global micro irrigation systems market is categorized into a surface trickle, bubbler, sprinkler irrigation, subsurface trickle, and drip irrigation. On the basis of component the global micro irrigation systems market is categorized into pressure pumps, emitters, drip tubes, valves, fittings & accessories, and filters. On the basis of crop type, the global micro irrigation systems market is categorized into plantation crops, field crops, orchards crops, and forage & turf grasses. On the basis of application the global micro irrigation systems market is categorized into agriculture, landscape, greenhouse, and nursery.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global micro irrigation systems market such as Antelco Pty Ltd, Elgo Irrigation Ltd., Chinadrip Irrigation Equipment Co., Ltd., Harvel, Rivulis, The Toro Company, Deere & Company, Lindsay Corporation, and EPC Industries.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global micro irrigation systems market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of micro irrigation systems market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the micro irrigation systems market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the micro irrigation systems market to understand the present and future trends in this market and formulate their strategies accordingly.
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