Micro Irrigation Systems Market to Reach US$ 8.17 Bn by 2022
According to a new market research report published by Credence Research “Micro Irrigation Systems Market (Traditional Sprinklers, Center Pivot, Linear Move and Drip Irrigation) – Growth, Share, Opportunities, Competitive Analysis and Forecast 2015 – 2022”, 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 2022.
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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.
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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.
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.
• Enhancement of the systems through chemigation and fertigation
• Development of mobile sprinkler irrigation systems
• Focus on large untapped markets such as China and India
• Providing automated irrigation systems using moisture sensors and remote controllers
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Chapter 3 Market Dynamics 24
3.1 Product and Market Insights 24
3.1.1 Global Micro Irrigation Systems Market Revenue and Growth, 2013 – 2022, (US$ Mn) (Y-o-Y %) 24
3.2 Key Trends Analysis 25
3.2.1 Evolution of Micro Irrigation Systems 25
3.2.2 Recent Trends and Outlook 26
3.3 Market Drivers 27
3.3.1 Rising population and water scarcity issues worldwide 27
3.3.2 High Advantages of Micro Irrigation Systems over Traditional Irrigation Methods 28
3.3.3 Government Encouragement for Micro Irrigation Systems 29
3.4 Market Growth Inhibitors 29
3.4.1 High Initial and Maintenance Costs of the Micro Irrigation Systems 29
3.4.2 Low Awareness among the People 30
3.5 See-Saw Analysis 31
3.6 Attractive Investment Proposition 32
3.7 Competitive Analysis 33
3.7.1 Market Positioning of Key Vendors 33
Chapter 4 Global Micro Irrigation Systems Market Analysis, By Product Type 35
4.1 Market Analysis 35
4.2 Sprinkler Irrigation Systems 36
4.2.1 Global Sprinkler Irrigation Systems Market Revenue and Growth, 2013 – 2022, (US$ Mn) 37
4.3 Drip Irrigation Systems 37
4.3.1 Global Drip Irrigation Systems, Revenue and Growth, 2013 – 2022, (US$ Mn) 38
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