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Rapid advancements and innovation in micro irrigation system technologies such as drip and sprinkler irrigation is a key factor driving market revenue growth
VANCOUVER, BC, CANADA, July 19, 2022 /EINPresswire.com/ -- The global micro irrigation system market size was USD 9.70 Billion in 2021 and is expected to register a revenue CAGR of 9.4% during the forecast period, according to latest analysis by Emergen Research. Technological advancements in micro-irrigation systems and launch of advanced systems that aid in saving water are some key factors projected to drive market revenue growth between 2021 and 2030.
Farmers are becoming more aware of advantages of micro-sprinkler irrigation and are shifting away from flood irrigation toward micro-sprinkler systems. In addition, farmers are turning to micro-irrigation since traditional irrigation technologies have various drawbacks including water wastage, challenges irrigating mountainous terrain, and unequal water distribution, among others. Moreover, micro-irrigation can also increase yields while lowering costs associated with water, fertilizer, and labor.
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Furthermore, manufacturers are launching innovative products, which is expected to drive revenue growth of the market. On 31 August 2019 for example, Rivulis Irrigation India, which is a part of global micro irrigation firm Rivulis Israel, launched Manna, which is a satellite-based software solution for irrigation in the country.
The report also discusses key players involved in the market, such as Jain Irrigation Systems Ltd., Netafim, The Toro Company, Nelson Irrigation, T-L Irrigation, Microjet, JSS Irrigation, Valmont Industries, Inc., Rivulis, Reinke Manufacturing Co., Inc., Hunter Industries, and Irritec S.p.A. as well as new entrants in the market. The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Key Highlights From the Report
The open field segment accounted for largest revenue share in 2021. Open field farming allows cultivation over large areas and is also cost-effective. In addition, open field crop production allows growing crops naturally where the roots are well-adapted, under the appropriate climate conditions, and during suitable seasons.
The drip irrigation system segment is expected to register a rapid revenue CAGR during the forecast period. This system is generally used in arid and semi-arid regions with scarcity of water as it has a better rate of saving water and fertilizers. It enables application of water directly to plant crop roots, which reduces overwatering, runoff, and evaporation. This has increased demand for drip irrigation systems and driving revenue growth of this segment.
North America market accounted for largest revenue share in 2021. This can be attributed to increasing government funding for conducting R&D activities to drip irrigation technologies, which is also expected to contribute to revenue growth of the market. For example, Israeli Company Netafim has exported drip technology to several small firms in water sparse areas of Paraguay.
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Emergen Research has segmented the global micro irrigation system market based on mechanism, component, cultivation technology, crop type, application, and region:
Mechanism Outlook (Revenue, USD Billion; 2019–2030)
Component Outlook (Revenue, USD Billion; 2019–2030)
Cultivation Technology Outlook (Revenue, USD Billion; 2019–2030)
Crop Type Outlook (Revenue, USD Billion; 2019–2030)
Application Outlook (Revenue, USD Billion; 2019–2030)
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Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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