July, 2023 - Market Research Future has Published a Report on the Global Micro-irrigation Systems Market
According to the report, the market is expected to reach a decent valuation by the end of 2030. The report further reveals through its secondary data that the market is anticipated to expand at a CAGR of 5.75% post the year 2030. The need of the hour is the efficient use of natural resources for promoting sustenance. On a similar note. The analysis offered by Market Research Future (MRFR) has projected a moderate CAGR for the global micro-irrigation systems market during the forecast period 2022 to 2030.
Water scarcity is one of the major issues faced by the human population. However, the demand for food crops is being observed to exhibit a continuous increase. This, in turn, has necessitated the need for the development of new cultivation methods using minimum resources to ensure maximum productivity. It has led to the shift towards micro-irrigation systems from the conventional ones. Thus, the future trajectory of the micro irrigation systems market is expected to augment continuously at a steady pace in the upcomi8ng years.
This field of agriculture has emerged as the prime area of research in the recent years. It is expected to signify rapid developments leading to the growth of the micro-irrigation systems market over the next couple of years. Key players are focusing on the development of advanced systems, which is likely to attract a larger consumer base in the years to come.
Governments are injecting investments in the micro-irrigation systems market for promoting its adoption. Subsidies and investments are being offered to farmers opting for micro-irrigation. At this pace, the market is expected to witness its boom in the nearby future. On the flip side, a large fraction of the agricultural community remains unaware of the advantages of this system. Lack of awareness is anticipated to restrict the growth of the micro-irrigation systems market over the projection period.
By type, the global micro-irrigation systems market has been segmented into micro-sprayers/sprinklers, micro-bubblers, drippers, drip tubing, and others.
By material, the micro-irrigation systems market has been segmented into plastic, metal, polyethylene, and others.
By end-use, the global micro-irrigation systems market has been segmented into farms, greenhouses, residential gardens, and others.
The prominent players of the global micro-irrigation systems market profiled in this MRFR report are Akplas (Turkey), Jain irrigation systems (India), Netafim Ltd Corporate (Israel), Irritec (Italy), Hunter Industries (U.S.), Rivulis (Israel), Antelco (Australia), The Toro Company (U.S.), Lindsay Corporation (U.S.), and Weishi Huifa Machinery Plant (China)
The geographical assessment of the global micro-irrigation systems market spans across North America, Europe, Asia, and the Rest of the World (RoW). North America is projected to dominate the growth trajectory of the global market in the foreseeable future. The advancements in the micro-irrigation system coupled with its quick adoption are prognosticated to favor the expansion of the regional micro-irrigation systems market. Asia Pacific is anticipated to exhibit a faster rate of growth across the projection period. Major country-level markets in the region that signify developmental opportunities are India, China, Thailand, and Malaysia.
In May 2019, Skipper-Metzer India LLP, the product of a partnership between Drip Irrigation major Metzer, Israel, and Skipper, a significant player in water infrastructure of India, has announced the inauguration of its new manufacturing facility which will be producing an entire range of Drip and Sprinkler Irrigation Systems to Indian Farmers.
In January 2019, researchers have developed a web-based application, DOMIS (short form for Design of Micro-irrigation System), for facilitating the convenient implementation of micro-irrigation systems for agricultural fields.
In September 2021, the state government of Tamil Nadu, India, has invested INR 1.6 thousand crores for boosting micro-irrigation projects.