As per a study by FMI, the global micro irrigation systems market is projected to report a healthy growth at a CAGR of 13% during the forecast period 2021 to 2031. The growing population size and increasing food demand across the globe are the primary drivers of the market.
According to a census conducted by the International Commission on Irrigation and Drainage, the acres of micro-irrigation have increased by 25 times over the past three decades.
Increasing adoption of micro irrigation systems in developing economies on the back of relatively low costs of purchase and installations is likely to create positive growth prospects in the assessment period.
Despite exhibiting steady growth in the last few years, the unprecedented novel coronavirus outbreak has affected the market drastically. The pandemic has disrupted the supply chain of raw materials and components amid implementation of lockdown. Nonetheless, favorable policies and financial incentives undertaken by the government are expected to energize the industry growth.
China is anticipated to lead the micro irrigation system market owing to its 118.9 thousand hectares of arable land, providing the largest area for the application of micro-irrigation. According to International Commission on Irrigation & Drainage (ICID), China is the number one ranking country in terms of micro-irrigation across the globe making it the most lucrative market for global growth.
“Leading players in the relatively fragmented micro irrigation systems market are investing in research and development (R&D) initiatives for developing innovative products such for enhancing their product portfolio and to capitalize on unexplored opportunities in emerging markets,” says the FMI analyst.
- In the U.S., over 10% of all the irrigations are carried out using micro irrigation systems making the country a prominent player in the global market.
- China is leading the micro irrigation systems market owing to the presence of the largest arable land in the world, 118.9 thousand hectares.
- India is demonstrating substantial growth at a CAGR of 9.6%, accounting for 7.73 million hectares of land equipped with micro irrigation systems.
- The Middle East and Africa are emerging as lucrative markets, as micro irrigation systems have significantly strengthened the green revolution in countries such as Israel.
- Drip irrigation systems are leading the segment and are estimated to account for over 60% of the market share by the end of 2031.
- Increasing government initiatives are fueling the demand for micro irrigation systems
- Ongoing technological advancements in terms of water flow and data analytics will drive the growth of the market.
- Increasing food demand and rising population are the primary factors boosting the market growth in developing economies.
- Growing awareness regarding the need for water conservation is expected to bolster the growth of micro irrigation systems market.
- High initial investment required for installation might hamper the demand for micro irrigation systems
- High cost of maintenance for the micro irrigation system poses a challenge to market growth.
- Less feasibility of micro irrigation systems for the farmers with less area of cultivation might restrain the demand.
Discover more about the micro irrigation systems market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/ask-question/rep-gb-4303
Leading market players are primarily focusing on developing innovative products to expand their product portfolio and are engaging in strategic collaborations with regional players to strengthen their global footprint. For instance,
- John Deere, the U.S. based company, introduced the N500C Series Air Drills, in 2019. The air drills were integrate with the latest in seeding technology, including novel ProSeries Openers, to favor small-grains producers.
- In 2019, Nutrien AG Solutions, the world’s largest provider of crop inputs and services and Lindsay Corporation have announced a partnership that will enable Nutrien AG Solutions in scheduling platform and remote irrigation management.
- In 2021, Rother Farming started introduced new N-Drip micro irrigation systems and started trials for the same. The company claims that the systems will save around 25% of water without being as capital intensive.
Leading players profiled by FMI operating in micro irrigation system market include:
- Jain Irrigation Systems Ltd.
- The Toro Company
- Rain Bird Corporation
- Hunter Industries
- Valmont Industries
- Rivulis Irrigation Ltd.
- Lindsay Corporation
- Reinke Manufacturing Company Inc.
- EPC Industries Ltd.
- T-L Irrigation
- Elgo irrigation
- Sistema Azud SA
- Nelson Irrigation Corporation
- Chinadrip Irrigation Equipment Co. Ltd.
- Kisan Irrigation Ltd.
- Finolex Plasson Industries Pvt. Ltd.
- Ripple Aquaplast
- Eurodrip SA.
More Insights on FMI’s Micro Irrigation System Market
The latest market study on global micro irrigation system market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of
- Drip Irrigation
- Micro/Mini Sprinkler Irrigation
- Conventional Sprinkler Irrigation
- Traditional Sprinklers
- Central Pivot Sprinklers
- Lateral Move Sprinklers
- Small Farmers
- Large Private & Corporate Farming
- Others (Residential Gardens, Green Houses, Plant Nurseries)
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
- Asia Pacific