Micro Irrigation System Market Size, Share, Competitor Analysis, | Forecast (2022-2030)
Micro Irrigation System Market Outlook
Market Research
Future (MRFR) anticipates the drip irrigation system market is expected to gain
a market value of USD 949.61 million by 2030 at a CAGR of 5.75% from 2022-2030.
Micro irrigation systems
are small-scale sprinkler systems designed to water individual plants and
garden beds. These tiny sprinkler heads use less water and emit less spray than
traditional methods, making this a eco-friendlier method of landscaping.
Covid 19
Analysis
The Micro
Irrigation System Market size has been affected because of the arrival of the
novel coronavirus pandemic. The markets have been facing a crunch of resources
and skilled labor that is hampering the ability of the market to meet the
rising needs of the target audience.
Hence, the
markets and governments are increasing their investment in the research and
development departments that will prevent the misuse of water and promote
optimal and judicious use.
Regional Outlook
The global
industry is spread across certain regions, namely Europe, the Middle East &
Africa, North America, along with the Asia Pacific.
Asia Pacific will
remain the top market for micro irrigation
systems market throughout the analysis period while also attaining the fastest CAGR
between 2020 and 2027. The APAC market’s strength lies in the vast population
whose livelihood is largely dependent on agriculture. The escalating adoption
rate of modern farming practices along with the surge in government funds and
subsidies encouraging the use of micro-irrigation systems, especially in India
will be favorable for the regional market. India is ranked among some of the
top producers of crops, and with the government investing considerably in the
farming sector, the adoption of cost-effective and efficient solutions is bound
to further increase in the years ahead. The South Korean government has
implemented smart farming schemes and policies that foster the use of these
systems in the agriculture industry. The government is also planning to build
massive smart farm complexes that could help attract the younger population and
raise their interest in farming. Apart from this, it intends to grant
small-sized farmlands to the professionals to kickstart their business, which
should bolster the demand for advanced products such as micro-irrigation
systems.
The North
American market will presumably take the lead in the coming years, as the
adoption of micro-irrigation systems has picked up pace in line with the
modernization of the existing farming practices. Significant awareness levels
regarding the benefits of these systems and the practices that facilitate them
should also be favorable for the regional market. The agriculture sector in the
United States happens to be one of the most important ones in the world. The
U.S. Department of Agriculture reveals that the country, in 2018, consisted
2,029,200 of total farms that occupied around 899,500,00 acres of land. Most of
the farmers are well-trained and make use of the latest technologies while also
adopting innovative agricultural practices.
The Row
market will also gain traction at a steady pace between 2020 and 2027, thanks
to the huge demand for micro-irrigation systems across South American countries
like Brazil and Argentina. This could be accredited to the accelerated uptake
of sustainable agricultural techniques among the farmers.
Growth Drivers and Deterrents
Although
being an essential service, drip irrigation systems have seen a heavy drop in
demand post the COVID-19. Irrigation agencies have been facing challenges
related to procuring of inputs, maintenance, and equipment. Fiscal issues are
rampant owing to additional costs as well as reduced revenues from state
transfers as well as tariffs. Farmers have had to deal with the lesser
accessibility to advanced irrigation equipment, thereby curbing the growth of
the micro irrigation market to a large extent. However, micro-irrigation
systems are still in demand worldwide, owing to the rising awareness about
their benefits, such as reduced water wastage and prevention of soil erosion.
The demand has remained steady, especially in countries facing water scarcity.
Farmers are increasingly focusing on using these systems to bolster crop yields
while using the minimum amount of water.
Substantial
increase in technological advances in drip Irrigation System market has been a
blessing for farmers in the agricultural sector, while also letting household
owners with big lands better manage the water flow as well as intake of plants.
Micro-irrigation systems are generally available in two forms, namely
sprinklers and drips that help bring down the total intake of the crops while
boosting the yield. Emerging regions such as Latin America and the Asia Pacific
are fueling the sales of these systems backed by supportive government policies
including low-interest subsidies and loans for farmers.
Governments
worldwide are motivating farmers to make use of micro-irrigation systems, which
could also stimulate the market growth rate over the following years. Given the
scenario, industry participants are striving to come up with low-cost and more
efficient micro-irrigation systems. Several regional government bodies offer
free electricity to farmers, which is yet another reason for the strong
adoption rate of these systems.
Segmental Review
The
micro-irrigation system industry can be considered for type, crop type, and
end-use.
The
micro-irrigation system market, depending on the type, caters to sprinkler
irrigation and drip irrigation.
The
micro-irrigation system market, with respect to crop type, can be split into
the landscape, field crop, plantation crop, and others.
The end-use
industries listed in the report are open fields as well as a closed system.
Affluent Participants
The most Key Micro Irrigation
System Market Players affluent industry participants listed
in the report are Chinadrip Irrigation Equipment Co. Ltd (China), Jain
Irrigation Systems Limited (India), Lindsay Corporation (US), Kothari Agritech
Private Limited (India), Nelson Irrigation Corporation (US), Netafim Ltd
(Israel), Rain Bird Corporation (US), EPC Industrie (India), Irritec S.p.An (Italy), Harvel Agua
(India), Antelco Pty Ltd (Australia), Deere & Company (US), The Toro
Company (US), Rivulis Irrigation Limited (Israel), Elgo Irrigation Ltd
(Israel), and many more
NOTE: Our
Team of Researchers is Studying Covid19 and its Impact on Various Industry
Verticals and wherever required we will be considering Covid19 Footprints for
Better Analysis of Market and Industries. Cordially get in Touch for More
Details.
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