Global Micro Irrigation Systems Market: Snapshot
The global micro irrigation systems market is teeming with opportunities to provide a sustainable irrigation solution for agricultural crop in water scarce regions. Agrarian economies of Asia Pacific and Africa face challenges of long spell of droughts and climatic uncertainties that require reliable man-made irrigation methods to prevent huge losses of agricultural crop. To address this, governments in these countries are educating farmers for the adoption of sustainable irrigation methods and are also providing subsidies on the installation cost of modern irrigation systems such as drip irrigation. This is boosting the micro irrigation systems market.
In addition, micro irrigation systems ensure regularity and frequency of water application, which is a significant factor for the quality and yield of agricultural crop.
However, on the flip side, high initial capital for micro irrigation systems limits their adoption for cost-intensive agriculture such as orchards and vineyards. Considering a host of favorable factors, the global micro irrigation systems market is poised to rise at an impressive CAGR of 15.3% between 2017 and 2023, as per a market intelligence study by Transparency Market Research (TMR).
Demand for Sprinkler Irrigation Systems to Remain High
The global micro irrigation systems market is studied on the basis of product type, component, application, and region. Depending upon product type, sprinkler irrigation systems and drip irrigation systems are the segments into which the micro irrigation systems market is divided. Sprinkler irrigation systems, of the two, dominates the micro irrigation systems market. The segment is likely to hold the leading 83.4% of the overall market to be worth US$7,296.3 mn by 2023 end; the growth of this segment is mainly because of inexpensiveness of sprinkler systems over drip irrigation systems that account for their widespread use in landscaping and agriculture. Sprinkler irrigation systems segment comprise traditional sprinkler, center pivot sprinkler, and lateral move sprinkler.
On the other hand, drip irrigation systems is likely to surpass in terms of growth rate over the 2017-2023 forecast timeframe.
By component, the elements common to both sprinkler irrigation systems and drip irrigation systems are couplers and tubing. Component specific to sprinkler irrigation systems are pumping unit, and fittings & sprinkler heads. Pumping unit is the most expensive component of sprinkler irrigation systems; pumping unit is anticipated to report a revenue of US$2,922.0 mn by 2023.
Drippers, backflow preventers, valves, filters, pressure regulators, and fittings are the components specific to drip irrigation systems. Filters, among them, are the most crucial component for the maintenance of drip irrigation systems.
Application-wise, the worldwide micro irrigation systems market is segmented into small farms, large private and corporate farming, government land and projects, and others. Out of these, the segment of large private and corporate farming is anticipated to hold the leading 52.4% of the overall market by 2023.
High GDP Contribution of Agriculture makes Europe Significant Region
Geography-wise, North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America are the regions into which the worldwide micro irrigation systems market is divided. Of them, Europe holds the leading share of the micro irrigation systems market vis-à-vis revenue. Modern farming practices account for extensive demand for micro irrigation systems in the region.
Key companies in the global micro irrigation systems market include Netafim Ltd., The Toro Company, Rivulus Plastro Ltd., Sistema Azud SA, Lindsay Corporation, T-L Irrigation Company, Valmont Industries Inc., Reinke Manufacturing Company Inc., Elgo Irrigation Ltd., Eurodrip SA, Hunter Industries Inc., Rain Bird Corporation, and Jain Irrigation Systems Market.
Global Micro Irrigation Systems Market: Overview
The research report on the global micro irrigation systems market aims to provide a detailed analysis of the said market for the 2017-2023 forecast timeframe. Included in the report is an in-depth analysis of demand drivers, restraints, and opportunities to have a bearing on this market between 2017 and 2023. Using these factors, growth trends that are expected to come to the fore over the forecast period have been ascertained. Also, economic indicators, environmental factors, and technological advancements that could influence the micro irrigation systems market through 2023 have been duly taken into consideration.
In addition, the report looks into quantitative and qualitative aspects of key indices such as investments, price trends, and regulatory scenario in micro irrigation systems market. The analysis of micro irrigation systems market presented in the report aspires to serve as a veritable guide for market stockholders. The report covers value chain analysis and market attractiveness analysis for the micro irrigation systems market for the 2017-2023 forecast period.
The report is presented in a chapter-wise layout wherein section within chapters are dedicated to discuss specific aspect of the micro irrigation systems market.
Global Micro Irrigation Systems Market: Research Methodology
Employing top-down approach the report provides market share and revenue estimates for key segments. Further, bottom-up approach has been employed to endorse revenue and market share projections for each segment. Business aspects considered in compiling the report include mergers and acquisitions, strategic partnerships, upgrade, and geographical outreach.
The report is a result of an elaborate primary and secondary research phase along with inputs from in-house experts. The primary research phase involved reaching out to industry experts and opinion leaders via e-mail, telephonic interviews, and face-to-face interviews. Valuable insights obtained through primary interviews helped to forecast market size and revenue estimations of the overall market. Demand-supply dynamics and import-export scenario in various countries have been taken into consideration to provide market attractiveness.
Industry participants reached out in the primary research phase include CEOs, marketing/product managers, market intelligence managers, and national sales managers. Technical personnel, purchasing managers, distributors, and resellers are some other participants involved in the primary research phase. Outside experts reached out in the primary research phase are investment bankers, research analysts specializing in specific markets, and valuation experts. Key opinion leaders with expertise in different areas corresponding to different industry verticals were also reached out in the primary research phase.
Global Micro Irrigation Systems Market: Competitive Dashboard
Included in the report is a section dedicated to the competitive outlook. This includes identifying key players in the micro irrigation market along with their detailed competitive profile. Included in the section is a discussion on key players’ winning strategies, annual revenues, and recent developments for micro irrigation systems. Following this, indices of strength, weakness, threat, and opportunities of key players through 2023 is presented in this section.