Newark, NJ, Feb. 18, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global micro irrigation systems market is expected to grow from USD 9.23 Billion in 2017 to USD 32.82 Billion by 2025 at a CAGR of 17.2% during the forecast period 2018-2025. Better utilization of water resources in drought conditions, better productivity in a limited area and rapid growth in greenhouse vegetable production are the factors driving the micro irrigation systems market.
Micro-irrigation is defined as the regular use of smaller quantities of water directly above and below the soil surface is usually as discrete drops, continuous drops or tiny streams through emitters placed along a water delivery line. It is an irrigation method to provide lower pressure and flow than a conventional sprinkler system. It is used in agriculture for row crops, orchards, and vineyards and in horticulture for wholesale nurseries, in landscaping for civic, commercial, and private landscapes and gardens, and in the science and practice of restoration ecology and environmental remediation. For instance, in 2017, Jain Irrigation Systems Ltd acquired Australian agri-tech firm Observant Pty Ltd. This acquisition will help in strengthening the company's base, and bring up a new product portfolio in micro-irrigation systems and enhance its presence in Australia & New Zealand.
The key contributing factor for market growth are better utilization of water resources in drought conditions and rapid growth in greenhouse vegetable production. The cost irrigation technique of low and better utilization of water resources in drought conditions are another two factors influencing the market growth. But initial investment is too high which may hamper the growth of the market. However, sustainable agricultural practices of companies will further augment the industry landscape and should drive industry growth in the coming years.
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Key players operating in the global micro irrigation systems market include 3D Digital Corporation, Carl Zeiss Optotechnik, Creaform, FARO Technologies, Maptek, Trimble, RIEGL Laser Measurement Systems, Teledyne Technologies, Topcon, Hexagon, Spatial Integrated System and Zoller + Fröhlich. among others. To enhance their market position in the global Micro Irrigation Systems market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, In May 2018, FARO Technologies made a strategic minority investment in present4D GmbH, which is a leading software Products provider for professional virtual reality (VR) presentation and training environments. This partnership will drive the adoption of virtual reality Products across a broad spectrum of business and industrial applications.
- Key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, to gain a competitive edge over other companies. For instance, in February 2018, Rain Bird introduced Alexa-enabled controllers for irrigation systems. One can control their irrigation systems by using the voice-activated personal assistant through Rain Bird App on an Android or iOS smartphone or tablet.
- For instance, in February 2018, Mexichem had completed the acquisition of an 80% stake in Netafim Ltd, by this acquisition the company is advancing towards its long term strategy to position itself as a world leader in speciality products and solutions in serving market which includes micro irrigation system market.
The drip segment valued around USD 3.76 Billion in 2017
The product segment is classified into sprinkler, drip, central pivot and lateral move. The drip segment is dominating the micro irrigation systems market with the highest share in 2017. Drip irrigation is widely used because it restores the nutrient lost, minimises leaching and growth of weed is reduced. Also, soil erosion is checked and cost of energy is also reduced since it operates in lower pressure.
The orchard crops segment held the largest market share 36.20% in 2017
Crop segment is divided into segments such as plantation crops, orchard crops, field crops, forage & turf grasses and others. The orchard crops segment is dominating the market in 2017. Rapid growth in the production of greenhouse vegetables is driving the application of microirrigation systems in orchard crops. Higher yield requirement from limited areas has also led to the growth in its application.
Agriculture segment valued around USD 3.57 Billion in 2017
Application segment includes agriculture, landscape, greenhouse, nursery and other. Agriculture segment is dominating the market with the highest share in 2017. Agriculture is one of the major occupation in various regions. Moreover, the emerging economies practice agriculture on a large scale, which consequently increases the adoption of micro irrigation systems in such regions.
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Regional Segment Analysis of the Micro Irrigation Systems Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global micro irrigation systems market USD 3.65 Billion in 2017 whereas the Asia Pacific rapidly growing region in the market. North America region is dominating the market due to growing supportive changes in the government infrastructure policy which is expected to drive the TLS market. Also, growth in the service sector is expected to drive the micro irrigation systems market. Asia- Pacific is rapidly growing region as it is supported by new infrastructure projects in the region, thereby providing various opportunities for TLS surveys.
About the report:
The global micro irrigation systems market is analysed on the basis of value (USD Billion), volume (K Units), consumption (K Units), imports (K Units) and exports (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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