Published on : Dec 18, 2017
Albany, New York, December 18, 2017: According to a new research report titled “Micro Irrigation Systems Market: Global Industry Analysis (2012-2016) & Opportunity Assessment (2017-2027)” that has been added to the research repository of Market Research Hub (MRH), global water scarcity is compelling governments and agriculture sector to invest in micro irrigation systems. During the assessment period, it is highly likely that demand for micro irrigation systems will grow at a CAGR of over 13% and reach a valuation of over US$ 16 Bn in revenues. The outlook on the global micro irrigation systems market is positive, and stakeholders can expect growth opportunities.
The world population is increasing at a brisk pace, and a thorough overhaul of agriculture and food processing industries is required to satiate the surging demand. Irrigation is one of the most important factors that impacts the output, and lack of proper irrigation has shown to create massive gaps in demand supply. Developments in boosting micro irrigation have emerged as a feasible option for the agro industry, and adoption is growing at a steady pace.
The adoption of micro irrigation systems is likely to remain resurgent in Asia Pacific, where governments in China and India are focusing on boosting their agro output. Many regions in Asia Pacific have grappled with water scarcity in the past, and the government is looking to improve the situation in these areas. On account of steady demand from China, India, and other Asian countries, the Asia Pacific excluding Japan (APEJ) market is likely to account for nearly 30% revenues of the global market.
Among the various types of irrigation systems, demand for sprinkler systems will continue to remain steady throughout the forecast period. The demand for sprinkler irrigation systems is projected to grow at a CAGR of nearly 13% during the assessment period. Although the sprinkler system is likely to account for a higher revenue share, its growth is likely to be slower than micro or mini sprinkler systems. The report also projects that demand for drip irrigation systems is likely to surpass a valuation of over US$ 5 Bn by the end of 2027.
The dominant end-users of micro irrigation systems are large corporate and private farms. These end-use segments are likely to account for nearly 60% revenue share of the global market. Demand for micro irrigation systems is also growing among small farmers, as awareness on the benefits of using micro irrigation systems is growing. Some of the leading players in the global micro irrigation systems market include Kisan Irrigation Ltd., Chinadrip Irrigation Equipment (Xiamen) Co., Ltd., Finolex Plasson Industries Pvt. Ltd., Netafim Ltd., Jain Irrigation Systems Ltd., Ripple Aquaplast, Irritrol, Valmont Industries, Eurodrip SA, The Toro Company, Rain Bird Corporation, Hunter Industries, Rivulis EPC Industries Ltd., Irrigation Ltd., Lindsay Corporation, T-L Irrigation, Sistema Azud SA, Reinke Manufacturing Company, Inc., Elgo Irrigation, and Nelson Irrigation Corporation.
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