Global Micro-Irrigation System Market Size To Grow USD 29.74 Billion By 2030 | CAGR of 11.03%
The Global Micro-Irrigation System Market Size was valued at USD 9.45 Billion in 2021 and the worldwide micro-irrigation system market size is expected to reach USD 29.74 Billion by 2030, according to a research report published by Spherical Insights & Consulting. Companies Covered: Jain Irrigation Systems Limited, Netafim Limited, Lindsay Corporation, The Toro Company, Deere & Company, Rivulis Irrigation Limited, Harvel Agua, T-L Irrigation, Kisan Irrigation Ltd., Kothari Agritech Private Limited, Nelson Irrigation Corporation, Rain Bird Corporation, Elgo Irrigation Ltd, Antelco Pty Ltd and among others.
New York, United States , March 29, 2023 (GLOBE NEWSWIRE) -- The Global Micro-Irrigation System Market Size to grow from USD 9.45 Billion in 2021 to USD 29.74 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 11.03% during the forecast period. The Micro-irrigation System Market is expected to grow significantly during the projected period, with higher productivity requirements from a limited area, increased greenhouse vegetable production, and increased adoption of artificial intelligence in micro irrigation systems driving the market's growth.
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Micro-irrigation is an advanced irrigation system in which water is irrigated at low pressure at the land's surface using drippers, microtubes, sprinklers, and emitters. In comparison to conventional gravity flow irrigation, low-pressure water systems help to maintain soil moisture tension and are advantageous for crop cultivation in low-percolation soil. Landscape, environmental remediation, and horticulture all use micro-irrigation systems.
The increased emphasis on water conservation as a result of rapidly rising water scarcity is resulting in extensive research and development activities to develop advanced irrigation systems that use less water. This is another important factor that is expected to contribute to market revenue growth. Reduced soil erosion and increased yield per hectare have increased the adoption of micro-irrigation systems, which are expected to contribute to market revenue growth over the forecast period. Growing demand for water conservation and increased government water management initiatives are two key factors expected to drive market growth in the coming years. Furthermore, rapid growth in food demand and the need for food security have led to the adoption of smart farming techniques and irrigation systems for improving crop cultivation and crop yield, among other factors that are expected to drive market revenue growth over the predicted period. However, high operational costs and investment requirements discourage farmers from adopting advanced irrigation systems, which is expected to limit revenue growth in the micro-irrigation systems market to some extent.
Governments around the world are increasing their efforts to deploy micro irrigation systems as more businesses shift towards advanced farming technologies to meet the growing demand of their customers. An increasing number of partnerships and collaborations with the government for irrigation system adoption are expected to open up new avenues for major companies and drive market revenue growth.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Micro-Irrigation System Market Size, Share, and COVID-19 Impact Analysis, By Type (Drip Irrigation Systems, Sprinkler Irrigation Systems, and Other Micro-irrigation Systems), By Crop (Orchard Crops, Vineyards, Plantation Crops, and Field Crops), By End User (Farmers, Industrial Users, and other), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030”. Get Detailed Report Description Here:
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The drip irrigation segment is expected to hold the largest market over the predicted period.
Based on the type, the global micro-irrigation system market is classified into drip irrigation systems, sprinkler irrigation systems, and other micro-irrigation systems. Drip irrigation dominated the market due to its high efficiency in saving water, reducing the rate of salinization, and increasing crop yield. Apart from this, the increasing use of drip irrigation in a variety of developing economies for crop production are boosting the segmental growth. It contributes to the growth of this market because of its high efficiency and diverse application.
The orchard crops segment held the largest share of the market.
Based on the crop, the global micro-irrigation system market is differentiated into orchard crops, vineyards, plantation crops, and field crops. The orchard crops segment held the largest share of the market. The expansion of greenhouse vegetable production is driving the use of micro irrigation systems for orchard crops.
Farmers segment dominated the market of micro irrigation.
On the basis of end-user, the global micro-irrigation system market is segmented into farmers, industrial users, and others. Farmers dominated the market for micro irrigation systems among end-users, and this trend is expected to continue throughout the projected period. The use of micro irrigation techniques protects these farmers from unforeseen, unpredicted, and unfavourable weather conditions, which is driving the growth.
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Asia Pacific holds the largest market share over the forecast period.
The Asia Pacific region dominates the micro irrigation market. Due to the growing popularity of advanced and developed irrigation systems such as drip irrigation and sprinkler. Some Asian Pacific countries, such as China, are the region's leading manufacturers of micro-irrigation system components. China exports micro irrigation system components to other Asia Pacific countries. Some governments, such as China and India, provide substantial subsidies to promote developed and advanced micro-irrigation practises such as sprinkler and drip irrigation.
North America is expected to be the fastest growing region in the micro irrigation systems market in the upcoming period, owing to increased farmer awareness and preference for micro irrigation systems, as well as rising R&D activities in this region. Their high adoption among farmers in these countries is driving market growth.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Micro-Irrigation System Market include Jain Irrigation Systems Limited, Netafim Limited, Lindsay Corporation, The Toro Company, Deere & Company, Rivulis Irrigation Limited, Harvel Agua, T-L Irrigation, Kisan Irrigation Ltd., Kothari Agritech Private Limited, Nelson Irrigation Corporation, Rain Bird Corporation, Elgo Irrigation Ltd, Antelco Pty Ltd and others.
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