Micro Irrigation System Market Size Worth USD 8.67 Billion with Significant Growth Rate Of 12.8% CAGR from 2020 to 2024: Market Research Future

Market Scenario
The global Micro Irrigation System Market is expected to register 12.8% CAGR from 2019 to 2024 and reach USD 8.67 billion by the end of 2024. Micro-irrigation is a unique technique of supplying water directly near to the roots of crops, unlike other irrigation methods where the whole soil profile is wet. This helps save a large amount of water. Generally, the rate of water supply is slow in micro-irrigation, which allows efficient use of water by avoiding evaporation of excess water. The water is supplied at a rate ranging from approximately 2–20 liters/hour. Waterlogging, which is usually caused by flood irrigation, can cause severe loss to farmers, as it affects the total productivity. This problem is also eliminated with the use of micro-irrigation system. All these factors are driving the growth of global micro irrigation system market. Many governments of different nations, across the globe, are providing subsidies to farmers for installing micro-irrigation system, which is expected to foster the growth of the global micro irrigation system market. Micro-irrigation also helps to increase crop productivity, which is anticipated to boost the growth of global micro irrigation system market. Moreover, increase in fertilizer use efficiency, which helps in reducing the cost associated with fertilizer, is predicted to fuel the growth of global micro irrigation system market. However, the high initial investment may hinder the growth of global micro irrigation system market.

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Segmentation
The global micro irrigation system market has been segmented based on type, crop type, end-use, and region.
The global micro irrigation system market has been divided, based on type, into drip irrigation, and sprinkler irrigation.
The global micro irrigation system market has been segmented, on the basis of crop type, into plantation crop, field crop, landscape, and others.
On the basis of end-use industry, the global micro irrigation system market has been bifurcated into open field and closed system.
The global micro irrigation system market has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American micro irrigation system market has further been segmented into the US, Canada, and Mexico.
The European micro irrigation system market has been classified into the UK, Germany, France, Italy, Spain, and the rest of Europe.
The micro irrigation system market in Asia-Pacific has been segmented into China, India, Japan, Australia & New Zealand, and the rest of Asia-Pacific.
The micro irrigation system market, in the rest of the world, has been segmented into South America, the Middle East, and Africa.
Key Players
Antelco Pty Ltd (Australia), Kothari Agritech Private Limited (India), Jain Irrigation Systems Limited (India), Lindsay Corporation (US), Irritec S.p.A (Italy), EPC Industrie (India), Nelson Irrigation Corporation (US), Netafim Ltd (Israel), Rain Bird Corporation (US), The Toro Company (US), Rivulis Irrigation Limited (Israel), Harvel Agua (India), Elgo Irrigation Ltd (Israel), Deere & Company (US), and Chinadrip Irrigation Equipment Co. Ltd (China) are some of the key players in the global micro irrigation system market.

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Regional Market
Globally, Asia-Pacific is expected to dominate the micro irrigation system market and grow with highest CAGR during the forecast period owing to the fact that a large segment of the population in the region is mainly involved in agriculture for their livelihood. Moreover, rise in adoption of modern farming practices and increased government subsidies for installing micro-irrigation systems in many emerging economies, including India, is expected to boost the growth of the micro irrigation system market in the region. North America is expected occupy a significant market share during the study period owing to the expansion of the agricultural industry. Additionally, the increased awareness amongst the farmers regarding the benefits of drip irrigation, is anticipated to boost the growth of micro irrigation system market in the region.
The market in the rest of the world is expected to grow at steady growth rate as the demand for micro-irrigation systems is increasing in various countries of South America such as Argentina and Brazil, due to the increased adoption of sustainable agricultural practices.

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