According to a new market research report published by Acute Market Reports “Micro Irrigation Systems Market (Traditional Sprinklers, Center Pivot, Linear Move and Drip Irrigation) - Growth, Share, Opportunities, Competitive Analysis and Forecast 2015 - 2023”, the global micro irrigation systems market stood at US$ 3,462.7 Mn in 2014 and is estimated to expand with a CAGR of 11.2% from 2015 to 2023.
The complete report is available at https://www.acutemarketreports.com/report/micro-irrigation-systems-market
Market Insights
Micro irrigation systems refer to irrigation techniques that apply water through sprinkling or dripping. These are by far the most water efficient techniques used for irrigation. The market for micro irrigation systems is largely driven by the rising need for enhancing crop productivity and addressing water scarcity issues. Another major factor fueling the demand for micro irrigation systems is their superior advantages over conventional irrigation methods. Micro irrigation systems supply water to the crops with minimal wastage. Additionally, since the water is applied with better precision, using these systems enhances the yields. In order to curb the water scarcity issues and increase food production, national governments worldwide are taking initiatives for increasing the micro irrigation system penetration. For instance, some of the national governments offer subsidies on installation of micro irrigation systems. However, the market is largely hampered due to lack of awareness and relatively high initial costs of these systems.
The micro irrigation systems market, as of 2014, is dominated by the sprinkler irrigation systems segment. The segment comprises traditional sprinklers (impact sprinklers), center pivot and linear move irrigation systems. Traditional sprinklers are the most popular types of irrigation systems and the segment is expected to retain its dominant position throughout the forecast period. Center pivot and linear move irrigation systems are popular majorly in region having large farms and developed agriculture sector. Further, due to their high water application accuracy and efficiency, drip irrigation systems segment is estimated to witness the highest growth in the coming years.
Competitive Insights:
Some of the major companies operating in the micro irrigation systems market are Netafim Ltd., Jain Irrigation Systems Ltd., The Toro Company, Valmont Industries, Inc., Lindsay Corporation and others. The market is highly consolidated in nature; however companies face significant competition from the local/regional players. The market players can categorized into sprinklers and drip irrigation manufacturers; and center pivot and linear move irrigation manufacturers.
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