Valley Cottage, NY -- (SBWire) -- 11/08/2017 --From rural agriculturists to agro-industry giants, the adoption of micro irrigation systems is gaining traction owing to their ability to improve irrigational efficiency by 50-90%. According to Future Market Insights recent report, rising scarcity of water has fuelled the demand for micro irrigation systems. In 2017, the global micro irrigation systems market will reach an estimated value of US$ 4,682.3 Mn. The report projects that by the end of 2027, the market will have soared at a sizeable CAGR of 13.3%, registering an estimated value of more than US$ 16,200 Mn.
In terms of region, the adoption of micro irrigation systems will be highest in Asia-Pacific excluding Japan (APEJ) region. This region has recorded the highest number of areas hit with water scarcity, and it is also recorded fastest water consumption in agriculture & manufacturing-driven economies such as India and China. The APEJ micro irrigation systems market is anticipated to account for more than 30% of global revenues by 2027. Demand for micro irrigation systems will also register lucrative growth in Latin America, as the region is expected to showcase revenue growth at 13.9% CAGR.
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Large private and corporate farms are expected to be largest end-user of micro irrigation systems through 2027. Over 60% of global market value will be accounted by this end-use segment by the end of 2027. Small farmers will also be observed as lucrative end-users for micro irrigation systems. The report also profiles leading players in the global micro irrigation system market, which include Chinadrip Irrigation Equipment (Xiamen) Co., Ltd., Kisan Irrigation Ltd., Finolex Plasson Industries Pvt. Ltd., Ripple Aquaplast, Irritrol, Eurodrip SA, Netafim Ltd., Jain Irrigation Systems Ltd., The Toro Company, Rain Bird Corporation, Hunter Industries, Valmont Industries, Rivulis Irrigation Ltd., Lindsay Corporation, Reinke Manufacturing Company, Inc., EPC Industries Ltd., T-L Irrigation, Elgo Irrigation, Sistema Azud SA, and Nelson Irrigation Corporation.
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The global water situations continue to be stressed with higher number of regions falling into water scarcity. Considering the brimming demand for water across all purposeful applications, governments are unable to locate and utilize renewable fresh water resources without running them dry. Since replenishing these natural bodies is out of the option, industries as well as individuals are compelled to optimize their water usage. In spite of causing distress in every water-associated business in the world, the stressed water situation in the world has contrastingly boosted one market in particular – the global market for micro irrigation systems.
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Global Micro Irrigation System Market Will Hit at a CAGR 13.3% from 2027
Future Market Insights has announced the addition of the “Micro Irrigation Systems Market: Global Industry Analysis and Opportunity Assessment, 2017-2027"report to their offering.