The global micro irrigation systems market size is expected to register figure of USD 16.83 billion by 2032, while exhibiting a promising CAGR of 6.32% during the forecast period. According to Fortune Business Insights in the report titled “Micro Irrigation Systems Market Size, Share & Industry Analysis, By Type (Drip Irrigation and Sprinkler Irrigation), Crop Type (Field Crops, Orchard Crops, Landscape & Turf, and Others), Application (Agriculture and Industrial), and Regional Forecast, 2020 - 2032,” the growth of the micro irrigation systems market will be driven by the increasing adoption of advanced techniques and supportive government policies aimed at enhancing crop quality.
A key factor fueling the global expansion of the market is the growing area covered by micro irrigation systems. The ease of mechanization and the suitability of these systems for both widely spaced and closely spaced crops are contributing significantly to market growth.
Information Source: https://www.fortunebusinessinsights.com/micro-irrigation-system-market-102839
Micro-irrigation, also known as localized irrigation, low-flow irrigation, trickle irrigation, and low-volume irrigation, is an advanced method that uses less water and pressure compared to traditional irrigation techniques. This approach provides precise amounts of water and nutrients directly to the plant roots, enhancing crop quality and yield. It's especially effective in areas with high alkalization and salinization that impact soil fertility. The two primary techniques within micro-irrigation are drip irrigation, which delivers water slowly to the soil through a network of tubing and emitters, and sprinkler irrigation, which distributes water over crops via a system of pipes and sprinklers.
What does the Market Report Include?
The market report offers a comprehensive overview of the micro-irrigation systems market, covering:
- Growth Parameters: It details the drivers, challenges, opportunities, and restraints affecting the market during the forecast period.
- Regional Demographics: Both qualitative and quantitative data on regional market dynamics and demographics are provided.
- Competitive Landscape: The report includes an in-depth analysis of key players in the market, including their strategies for mergers, acquisitions, product launches, and collaborations aimed at expanding their market presence from 2020 to 2032.
Drivers and Restraints:
Large-Scale Adoption of Land under Micro-Irrigation amid COVID-19 Threat to Drive the Market
As water resources become scarcer and the demand for high-quality crops rises, growers worldwide are expanding their use of micro-irrigation. The technique's ease of mechanization and efficiency in cultivating a diverse range of crops are driving its adoption among commercial property owners. This trend is anticipated to fuel market growth throughout the forecast period. For example, despite the economic downturn caused by the COVID-19 pandemic, Tamil Nadu, India, made significant strides in agriculture. In the financial year 2019-2020, the state led the nation in the area covered by micro-irrigation, with approximately 206,853.25 hectares under the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY). The growing use of this technique, due to its numerous benefits for crops, is expected to further propel market growth during the forecast period.
Regional Analysis:
Asia-Pacific to Remain Dominant; Adoption of Smart Farming Techniques to Fuel Growth
During the forecast period, the Asia-Pacific region is expected to lead the market. With a market share of USD 2.97 million in 2019, the adoption of smart farming techniques is anticipated to drive further growth in the region. Additionally, increased investments from major players, driven by lucrative opportunities to capture significant market revenue from micro-irrigation systems, will support this growth.
In contrast, North America is projected to experience substantial growth during the same period. This growth is largely due to the high level of awareness and adoption of advanced farming techniques in countries like the U.S. and Mexico.
Competitive Landscape:
Merger and Acquisition by the Private Players to Promote Growth
The micro irrigation systems market report highlights several companies aiming to capture significant market share and outpace their competitors during the forecast period. Key players are employing strategies such as expanding facilities, forming partnerships, pursuing mergers and acquisitions, and engaging in collaborations to drive market growth. For example, in April 2017, Jain Irrigation Systems, an irrigation solution provider based in India, acquired two U.S. companies—Irrigation Design, Construction Inc. (IDC) and Agri-Valley Irrigation Inc. (AVI)—with an investment of approximately USD 48 million for a 805-share stake in these firms. Additionally, supportive government policies promoting micro irrigation techniques are expected to positively impact market growth during the forecast period.
Industrial Development:
- February 2020: Lindsay Corporation, a pioneer in irrigation market, announced its launch of new product, Zimmatic poly pipe. According to the company, the product is favourable for farms wherein the water environment is most corrosive. This launch is anticipated to boost the strategic position of the Company in the marketplace.
List of the Companies Operating in the Market:
- Lindsay Corporation (U.S.)
- Jain Irrigation Systems Ltd. (India)
- Valmont Industries (U.S.)
- Rain Bird Corporation (U.S.)
- Reinke Manufacturing Co. Inc. (U.S.)
- Netafim Limited (Israel)
- The Toro Company (U.S.)
- Hunter Industries (U.S.)
- Nelson Irrigation Corporation (U.S.)
- Rivulis Irrigation Ltd. (Israel)
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