Micro Irrigation Systems Market - Water Scarcity Provides Ground for Growth to Micro Irrigation Systems

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.

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Water Scarcity Provides Ground for Growth to Micro Irrigation Systems

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.

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.

Sprinklers to Remain Dominant among Micro Irrigation Products, Europe to Lose Ground to Asia Pacific

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.

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.

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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.

The study presented here is based on a report by Transparency Market Research (TMR) titled “Micro Irrigation Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

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This release was published on openPR.