New York, US, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Micro Irrigation Systems Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Micro Irrigation System Market Information by Type, Crop Type, End-Use Industry, and Region - Forecast till 2027”, the market is estimated to cross USD 15.2 Billion by 2027 at 9.6% CAGR.
Market Scope
Micro irrigation is a modern technique of irrigation in which water is watered on the surface or subsurface of the land using drippers, sprinklers, foggers, and other emitters. Micro-irrigation is unique because it delivers water directly to plants' roots, as opposed to other irrigation methods that wet the entire soil profile. This conserves a significant amount of water. In general, the water flow rate in micro-irrigation is slow, allowing for efficient water use by preventing unnecessary water evaporation. Water is delivered at a rate of around 2–20 liters each hour. Also, the use of micro irrigation systems leads to less evaporation and runoff from both the soil and leaves.
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Competitive Landscape
The renowned companies in the Micro Irrigation System Market are:
- Antelco Pty Ltd (Australia)
- Lindsay Corporation (US)
- Irritec S.p.A (Italy)
- Nelson Irrigation Corporation (US)
- Netafim Ltd (Israel)
- Rain Bird Corporation (US)
- The Toro Company (US)
- Rivulis Irrigation Limited (Israel)
- Harvel Agua (India)
- Elgo Irrigation Ltd (Israel)
- Deere & Company (US)
- Chinadrip Irrigation Equipment Co. Ltd (China)
- Kothari Agritech Private Limited (India)
- Jain Irrigation Systems Limited (India)
- EPC Industrie (India)
Market Drivers
Waterlogging, which is commonly caused by flood irrigation, can result in significant losses for farmers because it reduces overall output. The usage of a micro-irrigation system also solves this problem. Many governments of different nations across the globe are providing subsidies to farmers for installing micro-irrigation systems, which is expected to foster the growth of the global micro irrigation system market. Micro-irrigation also aids in agricultural productivity, which is expected to drive the global micro irrigation system market forward.
Market Restraints
The global market may face certain issues, such as the high initial investment that may hinder micro irrigation systems' growth during the forecast period.
COVID 19 Analysis
In the COVID situation, to provide support to the farmers' many government bodies are offering programs that can aid in their farming practices. Recently, The Andhra Pradesh State government in India has chalked out plans to extend drip irrigation to one-and-a-half lakh hectares with an expenditure of ₹1,190.11 crores during the year 2021-22. The government was planning to extend a 90% subsidy to the farmers practicing micro-irrigation and holding two hectares of land. The improved application of drip irrigation methods in emerging countries is estimated to further create opportunities for development in the forthcoming period.
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Market Segmentation
In the mode of type, the rising water scarcity in major agriculture-based economies and declining water table levels have led to the development of drip systems and micro-sprayers/sprinklers, which are expected to have the most significant market share in this region.
In the mode of crop type, the plantain and field crop segments are estimated to guide the development of the global market in the forecast period.
In the mode of end-users, the open field segment is predicted to register a significant growth rate owing to the increasing demand for cost and water-efficient methods of conducting agricultural activities.
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Regional Insights
As a substantial portion of the population in the region relies on agriculture for a living, Asia-Pacific is predicted to lead the micro irrigation system market and develop at the fastest CAGR over the forecast period. Furthermore, higher government subsidies for constructing micro-irrigation systems and growing adoption of modern farming practices in many emerging nations, particularly India, are projected to drive the micro irrigation system market in the area. Recently, The Department of Agriculture in India, Cooperation & Farmers Welfare (DAC&FW) is employing a Centrally Sponsored Scheme in all the States of the country, focusing on enhancing water use efficiency at farm level through Micro Irrigation viz. Drip and Sprinkler irrigation systems. Besides promoting Micro Irrigation, this component also supports micro-level water storage or water conservation/management activities to supplement source creation for micro irrigation. Due to the rise of the agriculture business, North America is predicted to hold a considerable market share during the study period. Furthermore, growing farmer awareness of the benefits of drip irrigation is expected to drive the micro irrigation system market in the region. For instance, Water Ways Technologies Inc., a global provider of Israeli-based agriculture technology that provides agricultural producers with water irrigation solutions, has been awarded a contract to deliver a Medjool date growing and cultivation project in Vietnam. The Medjool dates will be grown by a Vietnamese company under the terms of the deal.
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EPC Industrie (India)
