Sustaining Growth through Water Conservation: Micro Irrigation Systems Market Forecasts a 9.5% CAGR by 2033 - Insights by Future Market Insights

According to findings from the most recent report by Future Market Insights (FMI), an ESOMAR-certified research and consultancy firm, the global market for microirrigation systems is predicted to develop at an exponential pace of about 9.5% CAGR through the end of 2033. The paper offers in-depth analyses of more than 20 fast-growing regional markets and extensive information on the possibilities for micro irrigation systems over the next ten years.

Through 2033, it is anticipated that the market for micro-irrigation systems will expand tremendously at a rate of above 9.5% CAGR. Advanced irrigation methods are in demand due to increased food consumption, notably in Asia and other regions with developing economies.

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Micro irrigation systems are gaining importance in the agriculture sector, owing to their efficacy in minimizing the effects of drought conditions, at comparatively low costs. Increasing demand for water and concerns over scarcity of this natural resource, with its effects in terms of quality and crop yield will play key roles in driving the growth of the market. The growing interest in greenhouse farming is also driving micro-irrigation systems in specialized farms.

The study by FMI has analyzed the global demand for micro irrigation system analysis, in terms of macroeconomic factors, the impact of the covid-19 pandemic, and the market landscape. As per the scope of research conducted by FMI, the market has been studied on the basis of consumer interests, product segments, and regional influences, in addition to qualitative data on the players operating in the market covering both supply and demand.

Key Takeaways from Micro Irrigation Systems Market Study

Drip irrigation systems are estimated to hold the lead, supported by lower purchase and installation costs, in addition to low water use.
Micro-farming applications will reflect a relatively higher rate of growth, driving demand for lateral move and central pivot products.
The United States will hold a significant market share owing to the concentrated presence of market leaders in the country.
India and China will account for a high rate of growth, supported by an agrarian economy and favorable government initiatives in the industry.
Access to technologies associated to mechanized irrigation systems are generating opportunities in the Middle East and Africa region.

Key Players in the Market

Netafim Ltd.
Jain Irrigation Systems Ltd.
The Toro Company
Rain Bird Corporation
Hunter Industries
Valmont Industries
Rivulis Irrigation Ltd.
Lindsay Corporation
Reinke Manufacturing Company Inc.
EPC Industries Ltd.
T-L Irrigation
Elgo irrigation
Sistema Azud SA
Nelson Irrigation Corporation
Chinadrip Irrigation Equipment Co. Ltd.
Kisan Irrigation Ltd.
Finolex Plasson Industries Pvt. Ltd.
Ripple Aquaplast
Irritrol
Eurodrip SA. (indicative list)

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Key Segments Profiled In The Global Micro Irrigation Systems Market

By System Type:

Drip Irrigation,
Micro/Mini Sprinkler Irrigation,
Conventional Sprinkler Irrigation,
Traditional Sprinklers,
Central Pivot Sprinklers,
Lateral Move Sprinklers

By End-use:

Agriculture
Landscape Irrigation
Greenhouse Irrigation
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Nandini Singh Sawlani
Future Market Insights Inc.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.