The global micro irrigation market is projected to grow at a CAGR of 17.91% from 2018 to 2023 – Axiom MRC.

March 17 03:03 2017
Axiom Market Research & Consulting
The market was extensively studied for important countries in Asia-Pacific, Latin America, Middle East and Africa. Along with all the leading countries, the market was also studied for South Korea, Australia, New Zealand, Chile, Peru, Kenya, Israel, Egypt, Saudi Arabia and U.A.E.

New York, 16, Mar 2017: Axiom MRC. added a report on global micro irrigation market. The global market of micro irrigation was valued at USD 2.9 billion in 2016 and is projected to grow at a CAGR of 17.91% from 2018 to 2023. The market was studied for its types such as Drip Irrigation and Microsprinkler Irrigation. The major crop types considered in the study are Orchard Crops & Vineyards, Field Crops, Plantation Crops and Others. The most important components considered in this market study were Emitters, Irrigation Valves, Polyethylene Tubes, Filters and Micro Sprays. Micro irrigation is majorly used by industrial users and farmers. Some other users considered in the study were government installations alongside the highways, gardens and community parks & garden.  The major regions considered for the study were North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.

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Increasing water scarcity and growing demand for food security is driving the market

The global drip irrigation market is driven by increasing importance for food security and rising need for efficient usage of water, due to the prevailing water scarcity. Growing acceptance of advanced techniques in irrigation by large as well as small scale farmers is also triggering the demand for micro irrigation techniques all over the world. Due to growing demand for such advanced techniques, the leading companies are investing huge sums of money in R&D and introducing innovative products with better results and high effectiveness.  This has resulted into manufacturing of customized drip as well as microsprinkler irrigation products suitable to the soil type as well as the crop type. Along with this, the leading companies are entering into prospective markets of developing countries, educating them for usage of micro irrigation products thus creating awareness leading to growth of micro irrigation market worldwide. The market growth is restrained mainly due to heavy initial investment and slow acceptance of farmers in rural areas of developing as well as developed countries in the world.

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Drip irrigation accounts for the largest market share

Among the types of micro irrigation such as drip irrigation and microsprinkler irrigation; drip irrigation held the largest market share in 2016, followed by pellets and microsprinkler irrigation. The widely used drip irrigation systems have optimum accuracy in delivering precise amount of water needed for crops at the roots of the crops thus saving highest percentage of water.

Orchard crops & vineyards projected to be the fastest growing market

The crop types considered in the micro irrigation market are orchard crops & vineyards, field crops, plantation crops, and others. The market is dominated by orchard crops & vineyards with the highest market share. These types of crops make highest use of micro irrigation techniques. It is estimated to be the fastest growing crop types due to increasing usage of micro irrigation in vineyards, as well as green house fruits and vegetables.

Industrial users hold the highest share among the end users

The micro irrigation techniques are highly used by industrial growers as well as farmers. The percentage usage of their techniques is high in industrial users due to high investment available with them as well as commercial cultivation of crops. Using micro irrigation techniques, help save water as well as increase the crop yield thus benefiting the profit margins of industrial users.

Polyethylene tubing to be the largest components market

The market for micro irrigation is studied for components of micro irrigation such as emitters, polyethylene tubing, irrigation valves, filters and micro sprays. The market for polyethylene tubing is highest followed by emitters.

Rising technological advancement in farming, increasing awareness about advantages of micro irrigation among farmers and increasing demand for food security in water scarcity and limited availability of land situation led to the growth of North American micro irrigation market.

North America dominated the market with the largest market share followed by Asia- Pacific and Europe. U.S. has the largest market share in the country-level market in North America region followed by Mexico.

The market is extensively studied for important countries in Asia-Pacific, Latin America, Middle East and Africa. Along with all the leading countries, the market is also studied for South Korea, Australia, New Zealand, Chile, Peru, Kenya, Israel, Egypt, Saudi Arabia and U.A.E.

The leading players in this industry include Jain Irrigation Systems Limited (India), Lindsay Corporation (U.S.), The Toro Company (U.S.), Driptech Incorporated (U.S.), Hunter Industries Incorporated (U.S.), Nelson Irrigation Corporation (U.S.), Netafim Limited (Israel), Rain Bird Corporation (U.S.), Rivulis Irrigation (Israel), T-L Irrigation Company (U.S.), among others. These companies have established their position in the market by offering competent micro irrigation products.

 

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