The global micro irrigation systems market shows high degree of competition amongst existing players.
Albany, NY -- (SBWIRE) -- 11/02/2016 -- Rising water scarcity and need to enhance crop productivity has led to the demand for efficient irrigation methods such as micro irrigation. Micro irrigation systems are expected to witness high demand during the forecast period owing to the wide advantages of these systems over conventional irrigation systems. Micro irrigation systems offer high efficiency and accurate application of water to plants. In addition, micro irrigation systems help in significantly reducing the water wastage as water is directly supplied to the plant root rather than the whole field. This is one of the most important factors responsible for growing adoption of micro irrigation systems in different applications across the world.
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Micro irrigation systems deliver accurate application of water to plants which helps increasing the production yield in agriculture. Thus, micro irrigation systems play an important role in agricultural practices. Moreover, government encouragement for the use of micro irrigation systems across different countries is expected to boost the adoption of these systems throughout the globe. This is another promising factor driving the growth of micro irrigation systems market during the forecast period. Growing agriculture industry in Asia Pacific region is expected to substantially drive the market in near term. Countries such as China, India and others are expected to show strong growth in micro irrigation systems market during the forecast period.
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In 2013, traditional sprinkler irrigation systems accounted for the largest share in terms of revenue in the global micro irrigation systems market. This was majorly attributed to the low initial costs and fairly high water efficiency of these systems compared to flood irrigation. Traditional sprinkler irrigation systems provide large coverage area and easy portability. Moreover, sprinkler irrigation systems are the most convenient irrigation system for applications such as sports grounds, large gardens and commercial lawns. Owing to these reasons, traditional sprinkler irrigation systems are expected to remain dominant throughout the forecast period. However, due to high water efficiency as compared to traditional sprinkler irrigation systems, drip irrigation systems are expected to be the fastest growing type during the forecast period.
Agriculture was the largest contributing application in terms of revenue in 2013. Agriculture application requires more than 50% of water usage in total irrigation application. With growing concerns towards high food productivity and frugal usage of water, agriculture is expected to remain dominating application of micro irrigation systems throughout the forecast period. Furthermore, due to low penetration of micro irrigation systems for agriculture in emerging economies, agriculture segment is expected to show the fastest adoption rate during the forecast period.
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In 2013, North America accounted for the largest share of around 36.5% in terms of revenue in the micro irrigation systems market. Countries such as the U.S. and Canada have high penetration of advanced mechanized irrigation systems such as center pivot and lateral move. Moreover, high consciousness related to efficient use of water resources is another significant factor driving the growth of micro irrigation systems in North America. Owing to these factors, North America is expected to remain dominant market for micro irrigation systems. However, Asia Pacific is expected to show highest growth for micro irrigation systems in near term. Agriculture is one of the largest industries in different countries such as China, India and Australia in the region. Due to factors such as high water scarcity and government encouragement, micro irrigation systems are expected to be widely adopted in this region throughout the forecast period.
The global micro irrigation systems market shows high degree of competition amongst existing players. The market is highly consolidated in nature with existing companies competing among themselves and new entrants pursuing to enter the market. In order to sustain competition, majority of the market players are focusing on strengthening their distribution networks across the world. Minor companies in the market emphasize on creating a wide geographic presence in order to sustain competition.
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