Trusted Business Insights presents the Updated and Latest Study on Microirrigation System Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Microirrigation System Market
Industry / Sector Trends
Global Microirrigation System Market size was worth over USD 5 billion in 2016 and will surpass 150 million hectares by 2024.
Market Segmentation, Outlook & Regional Insights: Microirrigation System Market
Microirrigation System Market, By Application, 2013-2024, (USD Million)
Potential applications in reducing water scarcity will drive microirrigation system market during forecast time frame. As per the water project report, globally around 70% of water sources are used for agriculture & irrigation purpose and only 10% for the domestic use.
Enhanced productivity and reduced virtual water requirement in agricultural sector are the key factors fuelling microirrigation system market growth. Depleting resources and environment are the issues expected to increase the product usage during forecast period.
Increasing population has further supported the industry growth as it is used for conserving water. As per United Nations report the world population was projected to have reached over 7 billion in September 2017 and is estimated to further increase to over 11 billion by 2100.
Rapid urbanization and industrialization have propelled microirrigation systems market as it has led to cities expansion and decrease in arable land for crop cultivation. Additionally, shifting trend towards population migration from villages and towns to cities has resulted in reduced workforce in agricultural sector. These factors have together contributed towards increase in microirrigation system market popularity as they reduce labour and improves efficiency.
Increased government initiatives have resulted in growing demand for microirrigation system market. For instance, strong political will for devising innovative technologies to preserve valuable water particularly in water-scarce regions including, Israel and Iran will propel the microirrigation systems market.
Brimming demand for water worldwide for all purposeful applications is projected to support the industry growth. Governments of various countries are unable to locate & utilize the renewable fresh water resource without making them dry. Increased optimization of water usage by industries and individuals will provide lucrative opportunity for product demand as replenishing the natural bodies is out of option.
Enhanced crop protection, suppressed weed growth and prevention of soil consolidation & surface or flood irrigation scheme are some of the factors supporting industry growth. Also, better quality, early maturity and ideal for terrain with the problematic water & soils will increase product penetration.
However, high initial investment and maintenance cost of microirrigation system may hinder the industry growth. Further, high equipment cost, narrow level of commercialization in developing countries and less feasibility for farmers having limited cultivation area can restrain the product penetration. Increasing investment from companies is projected to reduce impact of these restraints. Development of cost effective solutions by various companies will drive microirrigation system market.
Microirrigation System Market, By Product
Sprinkler was valued over USD 3 billion in 2016. Increased water usage efficiency, production at an affordable price and cultivation in fallow & barren land are the beneficial properties of the product, driving the industry. Improved crop quality & soil fertility and reduced environmental pollution are other factors enhancing the product scope. Ease of usage and flexibility is likely to result in high product demand. Moreover, sprinklers offer more land coverage in small water quantities.
Drip segment is estimated to register over 45 million hectares by 2024. Reduction in weeds & pests population as water is directed at root of plants will drive the industry growth. In addition, ease of installation, maximum usage of available water, improved efficiency of fertilizers, reduced soil erosion and versatility offered by the product will increase industry demand. Improved seed germination and limited evaporation losses of water relative to surface irrigation will provide new avenues to industry growth. However, sensitivity to clogging and high skill requirement for designing & installation may restrain the industry growth.
Microirrigation System Market, By Application
Orchard crops & vineyards will witness gains at over 12% up to 2024. Rising awareness among farmers about the benefits of the product is projected to drive the industry demand. Proper application of water helps in maintaining desired soil moisture in root zone, thus causes optimum development of vineyards, row crops and tree orchards.
Plantation crops will be worth over USD 5 billion by 2024. Growing demand from industries is requiring higher yields from plants that is anticipated to drive products demand in this segment. Adaptability of drip irrigation for all soil types and topography have boosted the product demand.
Field crops was valued around USD 900 million in 2016. The product allows a simplified field tilling technique without the need for removing or moving the equipment compared to other traditional methods. Thereby, driving the product demand in this segment. Innovative nature of equipment and presence of anti-siphon system & tape that empties automatically when the water is cut are the factors supporting the product demand.
Microirrigation System Market, By End-Use
Farmers end-use segment will observe gains over 11% up to 2024. The product demand in the segment is driven by the increasing need for enhancing productivity, reducing waste of water and improving crop quality. Large private & corporate farms are likely to be the largest end-user of the industry. however, small farmers are also observed as the lucrative end-user for industry.
Microirrigation System Market, By Region
APAC microirrigation system market was valued over USD 1.5 billion in 2016. Positive socio-economic conditions predominantly in India and China has enhanced product demand. For instance, China and India has only around 18% and 10% of its agriculture land under microirrigation scheme respectively, thus giving a scope for the industry to grow. However, the regional industry growth may be restricted due to scepticism or distrust towards innovative technology. In addition, farmers with decent water & energy supplies may hesitate to shift away from their traditional, tried-and-tested farming methods.
North America microirrigation system market will witness over 10% growth up to 2024. Rising awareness among farmers about these scheme benefits has resulted in increased regional market growth during forecast period.
Europe microirrigation system market accounted for more than 20% of the overall industry share in 2016. Improved technological advancement & innovations and increased adoption of environmental friendly products has enhanced the product penetration in the region. Reduction of labour cost coupled with increase in adoption of such equipments for conserving water in agriculture-eccentric economies is anticipated to augment industry growth. Development of infrastructures including, establishment of public parks, sports grounds and stadiums in several European countries, including France, Germany, U.K. and Spain has increased need for the well-organized water distribution methods.
Key Players, Recent Developments & Sector Viewpoints: Microirrigation System Market
Global microirrigation system industry share is fragment with presence many regional and international participants. Some of the major players include, Toro Company, Jain Irrigation, Rain Bird Corporation, Netafim, Valmont Industries, Lindsay Corporation, EPC Industries. Other prominent industry participants are Premier Irrigation Adritec, Automat Industries, Finolex Plasson, Signet Group, Ecoflo Irrigation and Bhumi Polymers.
Increasing Investment in research & development activities for introducing effective technologies is one of the most sought-after strategy of chief players. Joint ventures, agreements, new product launch, expansion of manufacturing facility and mergers & acquisitions are key strategies adopted by the major industry players.
Microirrigation system are usually low or medium pressure methods that is used for delivering water in form of jet, drip, mist, spray and sprinkles. Many research & development activities have been undertaken in past few years to increase the efficiency of the product, thereby improving crop yield. Governments play a significant role to help the farmers in installing the microirrigation system, by providing subsidies to small-scale farmers. Many local governments provide electricity at free-of-cost to farmers. Farmers in developing countries are also encouraged for adapting the product to increase productivity through the optimum water usage.
Key Insights Covered: Exhaustive Microirrigation System Market
1. Market size (sales, revenue and growth rate) of Microirrigation System industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Microirrigation System industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Microirrigation System industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Microirrigation System industry.
Research Methodology: Microirrigation System Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Microirrigation System Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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