Micro Irrigation Systems Market - Global Industry Analysis and Forecast 2015 - 2023

The presence of a large pool of participants characterizes the competitive landscape of the global micro irrigation systems market. As the market faces intense competition, major players are focusing on innovations as well as the integration of latest technologies into their existent offerings in order to retain their position, finds Transparency Market Research.

In the recent times, a number of leading companies have introduced advanced micro irrigation systems. For instance, Netafim launched its next-generation low-flow drippers and Toro introduced Aqua-Traxx Flow Control drip tape in 0.13 GPH emitter flow rate. However, over the coming years, manufacturers will undertake strategic partnerships to expand their product portfolios as well as to increase their sales, notes TMR.

Micro irrigation systems are widely recognized as one of the fast-emerging segments in the worldwide agriculture industry. The immense rise in the adoption of these systems is mainly attributed to the encouragement by various governments across the world.

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With water scarcity being a looming concern, micro irrigation can prove beneficial as it is capable of saving 50 to 60% of the ground water compared to other conventional irrigation practices. Consequently, governments in Asian and African countries, where water scarcity is severe, are offering subsidies over the installation costs of micro irrigation systems, prompting farmers to adopt these systems. Besides, farmers are also preferring micro irrigation systems over traditional ones as the former allow them to water plants evenly and when required, optimizing crop yields and improving their quality.

Considering these factors, the future of the global micro irrigation systems market looks teeming with opportunities. However, the high cost associated with the installation and maintenance of these irrigation systems may limit their application to large-scale and corporate farming in the coming years.

Analysts at TMR estimate the global opportunity in micro irrigation systems, which stood at US$2.6 bn in 2014, to expand at a CAGR of 15.10% during the period from 2015 to 2023 and possibly worth US$9.1 bn by the end of the forecast period.

This 101 page report gives readers a comprehensive overview of the Micro Irrigation Systems Market. Browse through 41 data tables and 24 figures to unlock the hidden opportunities in this market.

Currently, sprinklers dominate the market with a majority share and are expected to remain dominant in the near future. However, drip irrigation systems are poised to report their adoption at the fastest rate over the forecast period. While the demand for pumping units is the highest in the sprinkler segment, filters draw the maximum demand in the drip irrigation systems segment.

Regionally, Europe led the global market with a revenue share of 32% in 2014. The region, however, will lose its ground to Asia Pacific in the coming years, thanks to the increasing involvement of technology in agriculture in countries such as Australia, China, India, and Japan.

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Key Segments of the Global Micro Irrigation Systems Market:

By Product Type

Sprinkler Irrigation Systems

Traditional Sprinklers

Center Pivot Sprinklers

Lateral Move Sprinklers

Drip Irrigation Systems

By Components

Sprinkler Irrigation Systems

Tubing

Pumping Unit

Fittings & Sprinkler Heads

Couplers

Others (Span, Towers etc.)

Drip Irrigation Systems

Drippers

Tubing

Backflow Preventers

Valves

Filters

Pressure Regulators

Fittings

By Application

Small Farmers

Government

Large Corporate Farming

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This release was published on openPR.