Micro Irrigation Systems Market Witness Excellent Revenue Growth During 2015 To 2022
The global micro irrigation systems market size was valued at USD 2.48 billion in 2014. The market is anticipated to witness substantial growth by 2022 owing to increasing demand for food across the globe
94105(firmenpresse) - The global micro irrigation systems market size was valued at USD 2.48 billion in 2014. The market is anticipated to witness substantial growth by 2022 owing to increasing demand for food across the globe. They including sprinklers, mist, drips, and sprays irrigate plant roots using low discharge emitters and complex pipe network.
The ability to modify the discharge pattern by these systems according to the requirement of various agronomic and horticulture plants drive the micro irrigation market growth. The market is expected to reach USD 9.10 billion by 2022, on account of increasing demand for food in tandem with rising population.
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Urbanization and industrialization had led to the expansion of cities and a decrease in arable land for cultivation of crops. In addition, increasing trend of population migration from villages and towns to cities has resulted in reducing the workforce in agriculture industry. These factors together have contributed to increasing popularity of micro irrigation as they not only improve efficiency but also reduce labor.
Sprinklers dominated the global market accounting for over 30% of the revenue share in 2014. Flexibility and ease of use of the product is expected to result in its high demand over the forecast period. Moreover, sprinklers also offer more coverage in small quantities of water. Thus, the market is expected to grow at a CAGR of 17.1% from 2015 to 2022.
Demand for micro irrigation systems was highest for orchards, accounting for over 30% of the global market. They water only the treeline of the orchard, thus, promoting healthy growth.
Plantation & field crops are likely to witness significant gains over the forecast period owing to rising awareness among farmers regarding the benefits of these equipment.Field crops are expected to grow at a CAGR of 18.2% from 2015 to 2022.
North America accounted for approximately 30% of the overall revenue in 2014, followed by Asia Pacific. Rising awareness among farmers regarding the benefits of using these systems has resulted in growth of the market over the past few years, and the trend is expected to continue over the forecast period.
Increasing adoption of these equipment to conserve water as well as reduce labor in agriculture-eccentric economies of Asia Pacific is expected to augment growth over the forecast period. The market is expected to witness a growth of 19.8% by 2022.Moreover, growing population and rising standard of living are expected to augment the market in the region over the forecast period.
Reduced arable land owing to industrialization, deforestation, soil erosion, and urbanization along with scarcity of water are the major drivers of the micro irrigation systems industry. Installing them minimizes soil erosion, increases crop yield with high quality, and low weed growth. Drought related issues can also be solved by these equipment under the guidance of considerable government policies and regulatory frameworks.
Prominent industry players include Jain Irrigation Systems Ltd., Valmont Industries, Rain Bird Corporation, Nelson Irrigation, EPC Industries Ltd., The Toro Company, Rivulis Irrigation, Lindsay Corporation, Netafim Ltd., and T-L Irrigation. The market is dominated by a key players including Jain Irrigation Systems, The Toro Company and Rain Bird Corporation, together accounting for over 50% of the market share in 2014.
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Datum: 20.11.2019 - 12:53 Uhr
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