Micro Irrigation Systems Market Scope
Micro-irrigation system is those type of system which carrying desired water and nutrients directly to the root zone of the plant, drop by drop. Micro-irrigation is also known as low volume irrigation, Localized irrigation, and low-flow irrigation. The various benefit of using micro-irrigation system in agriculture such as, saves precious money & labor, save water to the tune of 30 to 40%, the minimum incidence of pest & disease, improvement in the quantity of the produce among others. It is widely used in the agriculture industry and the government has also taken to investment in the agriculture sector. For instance, the Government of India has announced to increase the investment which presently stands at 13% to help farmers across the country to around 30%. Hence, increasing usage of the micro irrigation system in the agriculture sector and government encouragement to promote the agriculture sector are likely to be a major driver for the global micro irrigation system market over the forecast period
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia-Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Valmont Industries, Inc. (United States), Hunter Industries (United States), The Toro Company (United States), Jain Irrigation Systems Ltd. (India), Nelson Irrigation Corporation (United States), Netafim Ltd. (Israel), Lindsay Corporation (United States), T-L Irrigation Co. (United States), Rain Bird Corporation (United States) and Rivulis Irrigation Ltd. (India) |
CAGR | 15.8% |
The micro-irrigation system market is fragmented with numerous players such as Valmont Industries, Inc. (United States), Hunter Industries (United States), among others are focusing on technique and quality of the product due to which the global micro irrigation system market can witness an upsurge in the forecast period. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Micro Irrigation Systems market throughout the predicted period.
Valmont Industries, Inc. (United States), Hunter Industries (United States), The Toro Company (United States), Jain Irrigation Systems Ltd. (India), Nelson Irrigation Corporation (United States), Netafim Ltd. (Israel), Lindsay Corporation (United States), T-L Irrigation Co. (United States), Rain Bird Corporation (United States) and Rivulis Irrigation Ltd. (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are John Deere (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Micro Irrigation Systems market by Type , by Application (Small Farming, Large and Corporate Farming and Government) and Region with country level break-up. On the basis of Type, Sprinkler Irrigation System are dominating the market in the year 2022
On the basis of application, Small Framer segment is dominating the market in the year 2022
On the basis of geography, the market of Micro Irrigation Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Asia-Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In April 2017, the Jain Irrigation Systems Ltd. (India) Company has acquired more than 80% in the United States largest micro-irrigation dealer. Therefore, this acquisition will strengthen the company presence in the micro irrigation system industry across the globe.
In November 2018, the Jain Irrigation Systems Ltd. (India) company has announced that the major growth in micro-irrigation in the domestic market was more than 31%. Hence, the major growth in a micro-irrigation system will affect the growth of the market in the future.
Some Countries has implemented water regulation regarding the supply of water to the irrigation system in agriculture. For instance, in May 2019, according to the Government of the United States, there is a water regulation has initiated to the local groundwater supply. Various irrigation system such as sprinklers must follow the outdoor water use schedule. Hence, it may act as a hamper for the growth of the market in the future.
Influencing Trend:
Rising Preference for Micro Irrigation Systems with Improved Features of Products
Market Growth Drivers:
Rising Demand for both Water Conservation and High Crop Yield of Global Food Security and Increasing Efficiency in the Use of Water in Drought-Prone Areas which Improved Crop Yields in Agriculture
Challenges:
Lack of Narrow Level of Commercialization in the Developing Economies Countries and Major Concern regarding the Environmental Degradation of Equipment which Resulting in Additional Costs for Clean-Up as well as Disposal
Restraints:
Issue related to High Initial Investment and High Maintenance Cost of the Micro-Irrigation System Worldwide, Problem related to Soil Salinity Hazards in Micro Irrigation Systems and Lack of Technical Knowledge as Well as Skills among Farmers in Emerging Economies such as India
Opportunities:
Increasing Consumers Awareness in Emerging Countries Such as India, China, Philippines and others and Rising Adoption of Precision Agriculture and Sustainable Practices of System
Key Target Audience
Raw Material Suppliers and Distributors, Micro Irrigation System Manufacturers, Government and Research Organizations, Associations and Industrial Bodies and Others