NEWARK, Del, May 30, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights, the global micro-irrigation system market is set to expand from US$ 8,314.9 million in 2023 to US$ 21,735.2 million by 2033. Over the next ten years (2023 to 2033), global demand for micro-irrigation systems is expected to rise at 10.1% CAGR.
The transition from conventional irrigation practices to modern and technologically advanced irrigation systems is a key driver in the micro-irrigation system industry.
Conventional irrigation methods, such as flood irrigation and furrow irrigation, are highly inefficient and can waste a significant amount of water. Micro-irrigation systems, on the other hand, are much more efficient and can deliver water directly to the roots of plants, where it is needed most. This results in significant water savings and increased crop yields.
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One of the primary drivers is the increasing global water scarcity. As water resources become limited, there is a growing emphasis on optimizing water usage in agriculture. This is putting the micro-irrigation system industry into the spotlight.
Micro-irrigation systems, such as drip irrigation and precision sprinklers, provide a solution by delivering water directly to the root zones of plants, minimizing evaporation and runoff. This precise and targeted application of water helps users conserve water resources and ensure that plants receive the necessary hydration for their growth and productivity.
Technological advancements play a crucial role in driving the adoption of modern irrigation systems. Innovations such as sensor-based irrigation scheduling, remote monitoring and control, and automation have made these solutions popular in the irrigation industry.
The new advanced technologies enable farmers to gather real-time data on soil moisture levels, weather conditions, and plant water requirements, allowing for precise and efficient irrigation management.
Development of new irrigation systems integrated with smart technologies will create lucrative opportunities for companies.
Key Takeaways:
- Global micro-irrigation system demand is forecast to increase at 10.1% CAGR during the assessment period.
- By mechanism, drip irrigation segment is estimated to create an incremental $ opportunity of about US$ 11,007.0 million between 2023 and 2033.
- Based on components, tubing segment is likely to exhibit a CAGR of 11.2% through 2033.
- The United States micro-irrigation system industry is expected to expand at 10.2% CAGR through 2033.
- Demand for micro-irrigation systems in Spain is forecast to rise at 9.1% CAGR from 2023 to 2033.
- Middle East and Africa and East Asia are expected to collectively hold around 54.7% of the overall market share.
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Who is Winning?
The micro-irrigation system industry is expected to be dominated by a few key players, leading to a consolidated market landscape. In the industry, top manufacturers such as Chinadrip Irrigation Equipment Co. Ltd., Elgo Irrigation, EPC Industries Ltd., Finolex Plasson Industries Pvt. Ltd., Hunter Industries, Irritrol, Jain Irrigation Systems Ltd., Kisan Irrigation Ltd., Lindsay Corporation, Nelson Irrigation Corporation, Netafim Ltd., Rain Bird Corporation, Reinke Manufacturing Company Inc., Ripple Aquaplast, Rivulis Irrigation Ltd., Sistema Azud SA, The Toro Company, T-L Irrigation, Valmont Industries hold significant market shares. These manufacturers are profiled in detail in the comprehensive version of the report.
Manufacturers in the agricultural industry are actively embracing the integration of micro-irrigation systems with precision farming technologies to meet the growing demand for advanced and efficient agricultural practices. They are taking significant steps to develop and offer integrated solutions that empower farmers to optimize water usage and enhance crop production.
Leading manufacturers such as Netafim, Jain Irrigation Systems, and Lindsay Corporation are at the forefront of this trend. They have been investing in research and development to create innovative products that combine micro-irrigation systems with precision farming technologies.
Competitive landscape:
- In 2022, to create a global irrigation and climate leader, the International Irrigation Business of Jain Irrigation Systems Ltd. was merged with Rivulis, a global provider of micro-irrigation solutions.
- In July 2020, Lindsay Corporation acquired Net Irrigate, LLC, a leading provider of Internet of Things (IoT) technology for agriculture.
More Valuable Insights Available:
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global micro-irrigation system market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033.
To understand the global market potential, growth, and scope, the market is segmented based on mechanism, components, farming techniques, crop type, end users, and region.
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Key Segments Profiled:
By Mechanism:
- Sprinkler Irrigation
- Centre Pivot
- Towable Pivot
- Rain Gun
- Impact Sprinkler
- Pop up Sprinkler
- Linear Move Sprinkler
- Drip Irrigation
- Surface Drip irrigation
- Sub-Surface Drip irrigation
- Gravity-fed Drip irrigation
- Online Drip irrigation
- Inline Drip irrigation
- Bubbler Irrigation
- Spray Irrigation
By Components:
- Drippers
- Tubing
- Control Valve
- Filters
- Digital Flow Meters
- Smart Watering Controllers
- Others
By Farming Techniques:
- Open Field
- Protected Cultivation
By Crop Types:
- Field Crops
- Orchards and Vineyards
- Plantation Crops
- Other Crop Types
By End Users:
- Farmers
- Large Private and Corporate Farms
- Governments
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Russia and Belarus
- Balkan and Baltics
- Central Asia
- South Asia Pacific
- East Asia
- Middle East and Africa
Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Material Roadmap
1.5. 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
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USP’s / Features
4.3. Strategic Promotional Strategies
5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Volume (Units) Analysis, 2018 to 2022
5.2. Current and Future Market Volume (Units) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Global Market - Pricing Analysis
6.1. Regional Pricing Analysis By Mechanism
6.2. Global Average Pricing Analysis Benchmark
Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-4303
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Old Source: Micro Irrigation Systems Market to Exhibit 13% CAGR by the End of 2031 Due to Surging Need for Water Conservation - Future Market Insights, Inc.
