Micro-irrigation System Market Global Information by Type (Micro-sprayers/sprinklers, Micro-bubblers, Drippers, Drip Tubing and others), Material (Plastic, Metal, Polyethylene and others), End Use (Farms, Greenhouses, Residential Gardens and others) and Region - Forecast to 2022
Pune, India -- (SBWIRE) -- 11/01/2018 -- Market Overview: Global micro irrigation systems market has witnessed an impressive growth over the last few years. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on global micro irrigation systems Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR % while achieving million-dollar growth readily in the forecast period.
Micro irrigation systems market is anticipated to be driven by various factors. Rising huge food demand and increasing population in the developing countries is considered to be one of the significant factors for the rising growth of global micro irrigation systems during the forecast period. Especially the populations have increased in the developing nations of Asia Pacific region. Moreover, the rising necessity for water conservation is further propelling the growth of micro irrigation systems. Farmers situated in drought area are also desiring micro irrigation systems instead of the conventional process.
Micro irrigation systems aid in minimizing water wastage which can be considered to be one of the major factors for the rising growth of micro irrigation systems during the forecast period. Micro irrigation system eliminates soil erosion. Apart from that, small scale farmers are emphasizing on the implementations of micro irrigation systems in order to enhance the production of crops by utilizing minimum water.
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Latest Industry Updates:
Feb 2017 Jain Irrigation Systems has acquired Observant Pty Ltd. The acquisition will aid to enhance the customer base of the company. Also, it helps in increase the presence in Australia & New Zealand
Sep 2017 The Toro Company has launched new micro irrigation systems. The product is having the application in nursery
Aug 2017 Mexichem has acquired Israel's Netafim at the value of $1.895 billlon
Global micro irrigation system market is competitive with major market players operating at the global level. The key players in the micro irrigation systems market have implemented the strategies such as collaboration, agreement, joint venture, and partnership. Major companies operating in this market are emphasizing its activity across the globe. Key manufacturers are increasing the production capacity to cater the extra demand of micro irrigation systems in the developing economies. Also, huge investment has been made to develop new products.
The key players profiled in micro irrigation systems 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)
Global micro irrigation systems market has been divided into type, claim, packaging, distribution channel and Region
On the Basis of Type: Micro-sprayers/sprinklers, Micro-bubblers, Drippers, Drip Tubing and others
On the Basis of Material: Plastic, Metal, Polyethylene and others
On the Basis of End use: Farms, Greenhouses, Residential Gardens and others
On the Basis of Region: North America, Europe, Asia Pacific and Rest of the World
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Global micro irrigation systems market is segmented by region which comprises of North America, Europe, Asia Pacific and Rest of the World. Among all the regions, Asia pacific is holding major market share in global micro irrigation systems market and it is expected to retain its dominance throughout the forecast period of 2017-2023. The growth of the micro irrigation systems in the Asia Pacific region is anticipated to be driven by the various factors. The major factor driving the growth of the micro irrigation systems is the rising high growth of agricultural sectors especially in the developing economies especially in China, India, Indonesia and other developing economies. Also, the major income comes from the crop cultivation which in turn escalates the growth of the micro irrigation systems in Asia Pacific region.
North America is also expected to account for the one fourth of the market proportion in the global micro irrigation systems market in the year of 2018. Among the North America, the U.S. is anticipated to hold major market share in the North America micro irrigation systems market and the trend is expected to continue throughout the forecast period. Middle East & Africa is projected to expand at a high growth rate during the forecast period of 2017-2023. Micro irrigation systems will get huge acceptance in Israel and other developing nations. Also, the accessibility of large arable land is anticipated to aid the implementation of micro irrigation systems in Middle East & African countries in the near future.