The global micro irrigation systems market is expected to grow at an exponential rate of more than 13% CAGR through the end of 2031, according to insights from the latest study from Future Market Insights (FMI) an ESOMAR-certified research and consulting firm. The report provides a detailed analysis in more than 20 high growth regional markets, with comprehensive details on the prospects of micro irrigation systems through the coming decade.
Micro irrigation systems are gaining importance in the agriculture sector, owing to their efficacy in minimizing the effects of drought conditions, at comparatively low costs. Increasing demand for water and concerns over scarcity of this natural resource, with its effects in terms of quality and crop yield will play key roles in driving the growth of the market. Growing interest in greenhouse farming is also driving micro-irrigation systems in specialized farms.
The study by FMI has analyzed the global demand for micro irrigation systems, in terms of macro-economic factors, the impact of the covid-19 pandemic, and market landscape. As per the scope of research conducted by FMI, the market has been studied on the basis of consumer interests, product segments, and regional influences, in addition to qualitative data on the players operating in the market covering both supply and demand.
Key Takeaways from Micro Irrigation Systems Market Study
• Drip irrigation systems are estimated to hold the lead, supported by lower purchase and installation costs, in addition to low water use.
• Micro farming applications will reflect a relatively higher rate of growth, driving demand for lateral move and central pivot products.
• United States will hold significant market share owing to the concentrated presence of market leaders in the country.
• India and China will account for a high rate of growth, supported by an agrarian economy and favorable government initiatives in the industry.
• Access to technologies associated to mechanized irrigation systems are generating opportunities in the Middle East and Africa region.
Micro Irrigation Systems Market – Competitive Landscape :-
Major players in the moderately fragmented micro irrigation systems market are focused on strategies involving portfolio expansions with investments into research and development efforts in addition to tapping into unexplored opportunities in emerging markets. Collaborations with regional players is also likely to find the interest of market leaders.
In May 2021, the Abdul Kalam Technological University announced the development of a software in collaboration with the Kerala Irrigation Infrastructure Development Corporation Ltd. for applications in automated community micro irrigation systems to improve crop yield.
In February 2021, Rother Farming started trials for its new N-Drip micro irrigation systems. The company claims that the systems will be able to save water resources by approximately 25%, without being as capital intensive as lateral irrigation options.
In August 2020, Israel based Netafim announced its entry in a deal worth US$ 85 million to provide advanced irrigation systems for around 35,000 farmers located in India, covering 66 villages over 50,000 hectares over a period of 2 years.
Micro Irrigation Systems Market Key Segments
System Type
• Drip Irrigation
• Micro/Mini Sprinkler Irrigation
• Conventional Sprinkler Irrigation
• Traditional Sprinklers
• Central Pivot Sprinklers
• Lateral Move Sprinklers
End Use
• Small Farmers
• Large Private & Corporate Farming
• Government
• Others (Residential Gardens, Green Houses, Plant Nurseries)
Region
• North America (U.S. & Canada)
• Latin America (Mexico, Brazil, Argentina, Chile, Peru, & Rest of LATAM)
• Western Europe (Germany, U.K., France, Italy, Spain, BENELUX, Nordic, & Rest of W. Europe)
• Eastern Europe (Russia, Poland, CIS Countries and Rest of E. Europe)
• Middle East and Africa (GCC Countries, Turkey, South Africa, Israel, & Rest of MEA)
• Japan
• Asia Pacific excluding Japan (China, India, ASEAN, South Korea, Australia, & Rest of APEJ)
Key Questions Answered in the Report :-
How will the micro irrigation systems market expand through 2031?
Which is the dominant micro irrigation systems market?
How is COVID-19 impacting the micro irrigation systems growth projections?
Which are the prominent micro irrigation systems market players?
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https:/www.futuremarketinsights.com/reports/micro-irrigation-systems-market