The micro irrigation system market is highly fragmented because of the presence of numerous small and medium-scale product manufactures
Ocean View, DE -- (SBWIRE) -- 04/23/2020 -- APAC micro irrigation system market would be valued more than USD 3 billion by 2024. Favorable socioeconomic conditions in India, China, and Australia have influenced product demand. For instance, China is accounted for 10% of agriculture land under the micro-irrigation system, thus the local market would provide lucrative opportunities for manufacturers. Increasing awareness among the farmers about product usage has further contributed to the growth of the Micro Irrigation System Market.
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The irrigation system is being widely used across the world to deliver water for the agriculture landscape. In recent years, numerous environmental issues like soil erosion, urbanization, deforestation, and industrialization have resulted in considerable land depletion. Micro-irrigation is considered as an effective tool for water conservation. Global water scarcity coupled with government initiatives is driving the global micro irrigation systems market.
Globally around 70% of the water sources are used for agriculture and irrigation purpose while 10 % of water sources are used for domestic purposes. Depleting water resources across the world have highlighted the importance of the micro-irrigation system.
On a global scale, the micro irrigation system market is highly fragmented because of the presence of numerous small and medium-scale product manufactures. Some of the prominent market players operating in the global micro-irrigation system market include Finolex Plasson, Rain Bird Corporation, Bhumi Polymers, Lindsay Corporation, Ecoflo Irrigation, Automat Industries, Valmont Industries, Jain Irrigation, Signet Group, Toro Company, EPC Industries, and Netafim.
Based on the product, the Sprinkler segment valued more than USD 3 billion in 2016. Improved yield at an affordable price, better water usage efficiency, and enhanced cultivation in barren land are propelling the industry growth. Moreover, increasing pollution concerns and enhanced soil fertility and increased crop quality are also contributing to the growth of the micro irrigation system market.
Based on application, Orchard crops & vineyards would witness considerable growth of more than 10 % over 2024. Increased awareness among farmers has influenced industry demand over the forecast period. Proper water supply helps to maintain desired soil moisture in the root zone which would ultimately result in the optimum development of Vineyards, tree orchards, and row crops.
Based on end-user, Farmers held more than 75% market share in 2016. Increased crop productivity, reduced water wastage, and improved crop quality are some of the key factors that are driving product demand. Major corporate & private farms are also contributing to the micro irrigation system market growth.
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Some of the prominent micro irrigation system market players operating in the global micro-irrigation system market include:
1. Toro Company
2. Jain Irrigation Systems
3. Rain Bird Corporation
4. Netafim Limited
5. Valmont Industries
6. Hunter Industries
7. Lindsay Corporation
8. Rivulis Irrigation
9. NaanDanJain Irrigation
10. Irritec S.p.A.
11. Automat Industries
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