Rising water scarcity and the need to enhance crop productivity have led to the demand for efficient irrigation methods such as micro irrigation. The market for micro irrigation systems is anticipated to expand at a CAGR of 15.1% during the forecast period from 2015 to 2023

Albany, NY -- (SBWire) -- 07/06/2016 --The global micro irrigation systems market is expected to reach US$9.14 bn before the end of 2023. It is expanding at a CAGR of 15.1% within a forecast period from 2015 to 2023, according to the latest research report released by Transparency Market Research. The market was valued at US$2.59 bn in 2014. The latest report in TMR's vast expanse of technology and media industry information is titled "Micro Irrigation Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." The report allows its users to gain a complete perspective of the market in order to carry out informed business decisions.

According to the report, the primary driver of the global micro irrigation systems market is the strengthening push against water wastage. Research shows that the reserves of water around the global are steadily reducing in size, due to which government bodies as well as private non-profit organizations are pressing against the overuse of water. This also applies to the conventional agricultural irrigation techniques, many of which are known to overuse water. Conversely, micro irrigation systems employ methods that cut back on water usage by a significant amount.

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A secondary factor consistent with the above one is the heavy government aid presented by many countries for the use of micro irrigation systems. The governments of the U.S., China, and India, among many others, have played a major role in the large scale implementation of these systems.

Users of the report may gain a clearer perspective of the global micro irrigation systems market once they witness it through the report's segmented analytical pattern. The market is divided on the basis of product type, component, application, and geography.

Sprinkler and drip irrigation are the two main product segments in the global micro irrigation systems market, of which the former has been preferred in majority till 2014. In this year, the sprinkler irrigation systems held about 83% of the market. TMR experts further attribute a CAGR of 14.5% to this segment, for the given forecast period. Sprinkler irrigation systems find high feasibility of use in fields, turf grass, and landscaping.

In terms of components, the pumping unit sub-segment of the sprinkler irrigation systems had occupied the largest share of 39% in 2014, in terms of revenue. The report, however, continues to state that the sub-segments of fittings and sprinkler heads will be expanding at the fastest rate in the given forecast period.

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The report's geographical analysis of the global micro irrigation systems market reveals Europe to have been the leading region for 2014, when it accounted for 32% of the market. Currently, Asia Pacific is expected to be the fastest growing region in the global micro irrigation systems market due to the high demand for sprinkler irrigation systems in the countries of India, China, Australia, Japan, and others.

The key players in the global micro irrigation systems market are described in the report, in terms of their current business strategies, overall profile, and revenue streams. This list of key players holds names such as Rivulis Plastro Ltd., Valmont Industries, Inc., Sistema Azud SA, Lindsay Corporation, Reinke Manufacturing Company, Inc., Eurodrip SA, Netafim Ltd., Elgo Irrigation Ltd., T-L Irrigation Company, Jain Irrigation Systems Ltd., Hunter Industries, Inc., Rain Bird Corporation, and the Toro Company.

Key Segments of the Global Micro Irrigation Systems Market

Micro Irrigation Systems Market Analysis, by Product Type

Sprinkler Irrigation Systems
Traditional Sprinklers
Center Pivot Sprinklers
Lateral Move Sprinklers
Drip Irrigation Systems

Micro Irrigation Systems Market Analysis, by Components

Sprinkler Irrigation Systems
Tubing
Pumping Unit
Fittings & Sprinkler Heads
Couplers
Others (Span, Towers etc.)
Drip Irrigation Systems
Drippers
Tubing
Backflow Preventers
Valves
Filters
Pressure Regulators
Fittings

Micro Irrigation Systems Market Analysis, by Application

Small Farmers
Government
Large Corporate Farming
Others (Private/Residential Gardens, Commercial (Sports Grounds etc.)

In addition, the report provides cross-sectional analysis of the micro irrigation systems market with respect to the following geographical segments:

North America
The U.S.
Rest of North America

Europe
EU7
CIS
Rest of Europe

Asia-Pacific
Japan
China
India
Australasia
Rest of Asia Pacific

Middle East and Africa (MEA)
Israel
Iran
Turkey
Egypt
Nigeria
Ivory Coast (Côte d'Ivoir)
GCC Countries
North Africa
South Africa (Country)
Rest of the Middle East & Africa

Latin America
Brazil
Colombia
Rest of Latin America