WASHINGTON, March 29, 2022 (GLOBE NEWSWIRE) -- According to a new market research report " Micro Irrigation Systems Market Size, Share & Trends Analysis Report by Type (Drip, Micro sprinkler), by End User (Farmers, Industrial users, Other end users (usage by government authority, community parks, and sports ground), by Crop Type (Orchard crops & vineyards, Plantation crops, Field crops, Other crop types (turf & ornamentals, and silage & forage crops), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)", published by Vantage Market Research, the global post COVID-19 market size of the Micro Irrigation Systems Market is expected to grow from USD 9,413.20 Million in 2021 to USD 15,873.98 Million by 2028 at a CAGR of 9.10% during the forecast period.
Synopsis:
The Micro Irrigation Systems Market is expected to witness high growth during the forecast period owing to the factors such as rapid growth in the production of greenhouse vegetables, higher yield demand from the limited areas, and a rise in the utilization of artificial intelligence in Micro Irrigation Systems Market. Moreover, the major factors that drive the growth of Micro Irrigation Systems Market are an increase in the demand for food and agricultural products and growth in water supply and storage problems. The shifting of farmers from traditional irrigation methods to technologically advanced irrigation systems is further estimated to increase the demand for the Micro Irrigation Systems Market in the coming years. The efficient use of water resources in drought conditions, low-cost irrigation techniques, and rise in the utilization of artificial intelligence in the Micro Irrigation Systems Market are projected to significantly contribute to the growth of micro irrigation market in upcoming years. In addition, the sustainable agricultural practices of several companies like public and private support for running irrigation projects in the developing countries, and expansion of microfinance networks are expected to provide key opportunities in the Micro Irrigation Systems Market in the coming years. Besides, higher initial investment such as cost of micro-sprinkler irrigation system and cost in a drip system, and continuous requirement of maintenance are expected to hamper the Micro Irrigation Systems Market growth during the forecast period.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Micro Irrigation Systems market is predicted to grow at a CAGR of roughly 9.10% during the forecast period.
- The Micro Irrigation Systems market was estimated to be worth roughly USD 9,413.20 Million in 2021 and is expected to reach USD 15,873.98 Million by 2028; based on primary research.
- On the basis of region, North America is projected to dominate the worldwide Micro Irrigation Systems market.
List of Prominent Players in the Micro Irrigation Systems Market:
- Jain Irrigation Systems Limited (India)
- Netafim Limited (Israel)
- The Toro Company (US)
- Lindsay Corporation (US)
- EPC Industries (India)
- Nelson Irrigation Corporation (US)
- Rain Bird Corporation (US)
- T-L Irrigation (US)
- Hunter Industries (US)
- Rivulis Irrigation Ltd (Israel)
- Chinadrip Irrigation Equipment Co.Ltd. (China)
- Elgo Irrigation (Israel)
- Antelco Pty Ltd (Australia)
- Microjet Irrigation Systems (South Africa)
- Irritec (US)
- Metro Irrigation (India)
- Irritec S.p.A. (Italy)
- Irrigation Direct Canada (Canada)
- Drip Research Technology Solutions (Turkey)
- Drip Works Inc. (US)
- Rain drip, Inc. (US)
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Market Dynamics:
Drivers:
Encouragement of Governments of different nations across the globe is offering subsidies to farmers for establishing Micro Irrigation Systems Market and which is projected to boost the growth of Micro Irrigation Systems Market during the forecast period. Micro irrigation also supports increasing agricultural products such as greenhouse vegetable production which is expected to drive the global Micro Irrigation Systems Market in the upcoming years. Moreover, the rising adoption of Micro Irrigation Systems Market by farmers in different countries is expected to witness a higher market growth during the forecast period.
Challenges:
Lack of timely reimbursement for the subsidies, and the absence of an appropriate monitoring agency which leads to product duplication are the factors expected to hinder the growth of micro irrigation market during the forecast period.
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Regional Trends:
Asia Pacific is estimated to grow at the highest CAGR during the forecast period in the global Micro Irrigation Systems Market. The Asia Pacific is estimated to dominate the market owing to increasing adoption of Micro Irrigation Systems Market among the ruler farmers, rising demand for organic products, and growth in the acceptance of the latest irrigation systems like drip and sprinkler irrigation for fertigation. The support of different country's governments for the irrigation sector is a major component of a border pro-ruler policy package that focuses on supporting agriculture. A majority of various countries in the Asia Pacific region such as India and Malaysia are increasing subsidies for the irrigation sector in order to achieve the goal of food self-reliance. The growth in government subsidies and concerns over water scarcity encourages the drip irrigation market growth in India and enhances the growth of the market in the coming years. The growth of Micro Irrigation Systems Market in the Asia Pacific is mainly attributed to the favorable regulations applied by the government for the production of Micro Irrigation Systems Market during the forecast period.
Recent Developments:
• In May 2021, the Dr. Abdul Kalam university announced the development of software in association with the Kerala Irrigation Infrastructure Development Corporation Ltd. for the applications in automated Micro Irrigation Systems Market to improve crop harvesting.
• In February 2021, Rother farming started trials for its latest N-Drip Micro Irrigation Systems Market. The company claims that this system will be able to save water resources by approximately 25% without being capital incentive as lateral irrigation options.
Browse market data Tables and Figures spread through 132 Pages and in-depth TOC on "Micro Irrigation Systems Market Size, Share & Trends Analysis Report by Type (Drip, Micro sprinkler), by End User (Farmers, Industrial users, Other end users (usage by government authority, community parks, and sports ground), by Crop Type (Orchard crops & vineyards, Plantation crops, Field crops, Other crop types (turf & ornamentals, and silage & forage crops), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/micro-irrigation-systems-market-market-606638
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Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Micro Irrigation Systems Market?
- How will the Micro Irrigation Systems Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Micro Irrigation Systems Market?
- What is the Micro Irrigation Systems market drivers and restrictions?
- What will be the CAGR and size of the Micro Irrigation Systems Market throughout the forecast period?
This market titled “Micro Irrigation Systems Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size in 2021 | USD 9,413.20 Million |
| Projected Market Size in 2028 | USD 15,873.98 Million |
| CAGR Growth Rate | CAGR of 9.10% From 2022 – 2028 |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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