The report provides in-depth analysis of more than 20 high-growth regional markets, as well as comprehensive information on the prospects of micro irrigation systems over the next decade. According to Future Market Insights (FMI), an ESOMAR-certified research and consulting firm, the global micro irrigation systems market is expected to grow at an exponential rate of more than 13% CAGR through the end of 2031.
Micro irrigation systems are gaining popularity in the agricultural sector due to their effectiveness in mitigating the effects of drought conditions at a low cost. Increasing demand for water and concerns about scarcity of this natural resource, as well as its effects on crop quality and yield, will play important roles in driving market growth. Growing interest in greenhouse farming is also propelling the development of micro-irrigation systems in specialised farms.
The FMI study examined global demand for micro irrigation systems in terms of macroeconomic variables, the impact of the COVID-19 pandemic, and the market environment. The market has been examined in light of consumer preferences, product categories, and regional influences, as well as qualitative information on the companies competing in the market that addresses both supply and demand, according to the FMI’s scope of research.
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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.
“The growing need for water conservation efforts driven by rising population levels and decreasing global water reserves are key factors that drive the micro irrigation systems market. Stringent regulations associated with water becoming a rare commodity, has pushed players in the agricultural sector to invest in novel solutions to enhance the productivity of a limited volume of water. Micro irrigation systems are capable of optimizing water usage, which in turn will support market expansion for the duration of the forecast period,” says the FMI analyst.the interest of market players through the assessment period.
The micro irrigation systems market is expected to grow at a healthy rate during 2021 to 2031. With the essential nature of irrigation in agriculture, coupled with growing concerns over water scarcity issues, market players are expected to be focused on research and development to improve on resource optimization objectives. Field testing and collaborations with regional players is likely to gain
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Competitive Landscape
The global micro irrigation system market is moderately fragmented, with a number of regional players holding notable market share, which is likely to continue for the duration of the forecast period. Leading manufacturers are increasingly investing in new technology innovations in addition to strategic geographic expansion efforts.
Some of the leading players in the micro irrigation systems market include but are not limited to Netafim Ltd., 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 , Irritrol, Eurodrip SA.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
4. Key Success Factors
5. Global Market Demand (in Value or Size in US$ Bn) Analysis 2017- 2021 and Forecast, 2022-2032
5.1. Historical Market Value (US$ Bn) Analysis, 2017-2021
5.2. Current and Future Market Value (US$ Bn) Projections, 2022-2032
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
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Valuable Insights into Micro Irrigation Systems Market Study
Future Market Insights brings the detailed research report of the latest industry trends affecting growth in the global micro irrigation systems market. The market has been segmented in terms of system type and end use to offer a comprehensive overview of the industry. The study provides in-depth analysis of the key factors enabling growth in these segments across seven key regions.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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