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Global Microirrigation System Market By Top Key Players: Jain Irrigation, Rain Bird, Netafim, Valmont, Lindsay Corporation, Hunter Industries, Rivulis Irrigation, Captain Polyplast, Automat Industries
Microirrigation System Market
Growing environmental awareness and increase in income levels, along with shift in customer’s focus for eco-friendly products in developing economies is anticipated to drive micro irrigation system demand. Unpredictable precipitation in rainfall dependent nations has further supported the industry growth as this is forcing farmers to install the product for reducing seeds and crops wastage.
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Increasing necessity to overcome water scarcity will drive microirrigation system market. Globally 70% of the water sources are used for irrigation and agricultural purposes whereas 10% accounts for domestic purposes.
Farmers end-use segment accounted more than 75% market share in 2016. High crop productivity, improving crop quality and reducing water wastage are the key driving factors stimulating product demand. Large corporate & private farms are probable end-users of the industry.
North America micro irrigation system market is likely to reach USD 3.5 billion by 2024. Growing awareness among the farmers about benefits of using the product has resulted in increased industry demand. Countries including the U.S., Mexico and Canada are prominent users of the product for achieving better quality and higher yield crops for export markets which has driven the regional growth.
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APAC microirrigation system market will be valued over USD 3 billion by 2024. Favorable socio-economic conditions in China, India, and Australia has enhanced the product demand. For instance, China accounts for 10% agriculture land under the microirrigation system, thus regional market is expected to provide lucrative opportunity for manufactures. Rising awareness among the farmers about product application has further propelled industry growth.
Global microirrigation system industry share is fragment with presence many regional and international participants. Some of the major players include, Toro Company, Jain Irrigation, Rain Bird Corporation, Netafim, Valmont Industries, Lindsay Corporation, EPC Industries. Other prominent industry participants are Premier Irrigation Adritec, Automat Industries, Finolex Plasson, Signet Group, Ecoflo Irrigation and Bhumi Polymers.
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