Micro Irrigation Market Top Countries, Companies, Consumption, Drivers, Trends, Analysis, Challenges and Forecasts of the 2027
The global Drip Irrigation Systems market size is expected to reach USD 12.40 billion by 2027 while showing a promising CAGR of 6.92% during the forecast period. According to a report by Fortune Business Insights, titled “Micro Irrigation Systems Market Size, Share & Industry Analysis, By Type (Drip Irrigation and Sprinkler Irrigation), Crop Type (Field Crops, Orchard Crops, Landscape & Turf, and Other), Application ( agriculture and industry) and regional forecast, 2020 – 2027. The increasing use of advanced techniques and government support policies to produce good quality crops will be the driving factors for the growth of the market in coming years.
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Drip irrigation is a type of irrigation method that requires less pressure and water flow than other traditional irrigation techniques. It is also known as spot irrigation, low flow irrigation, drip irrigation, and low volume irrigation, among others. In addition to this, a scientific method that requires sufficient water and nutrients, this type of irrigation produces better quality and surplus crops. Also, it is best suited to soils suffering from inferior crop quality due to high rate of alkalization and salinization. Drip irrigation involves two types of techniques such as drip irrigation and sprinkler irrigation.
What does the market report include?
The market report includes detailed information on the growth parameters like drivers, challenges, opportunities, and restraints that the market will go through during the forecast period. It also provides qualitative and quantitative details on the regional demographics present in the market. Furthermore, the competitive landscape includes in-depth information about the companies proliferating in the market and strategies such as mergers and acquisitions, product launches, and partnerships adopted by them to gain presence in the market between 2020 and 2027.
Drivers and Restrictions:
Large-scale adoption of drip-irrigated land amid COVID-19 threat to drive market
With water sources depleting and demand for good quality crops growing, growers are adding more micro-irrigated areas around the world. Factors like easy mechanization and efficiency in growing a wide range of crops is the driving factor that is propelling the acceptance of the technique among commercial property owners. This should stimulate the market over the forecast period. For example, in turbulent times when every sector is reeling to the downside due to the global effects of the novel coronavirus, COVID-19, farmers in Tamil Nadu, India have been applauding the agricultural sector.In the just concluded 2019-2020 financial year, Tamil Nadu surpassed the level of all of India in micro-irrigated area. Under the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), the state covered approximately 2,06,853. 25 hectares of land during the aforementioned year. The growing adoption of land with this technique, due to its many positive benefits for crops, will contribute to the growth of the market during the forecast period.
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Asia-Pacific will remain dominant; Adopting smart farming techniques to fuel growth
Among the regions, Asia-Pacific will be at the forefront during the forecast period. With a market share of USD 2.97 million in 2019, the adoption of smart farming techniques will further stimulate market growth during the projected horizon. Furthermore, increased investment by the major players due to lucrative opportunities to gain maximum revenue from the Drip Irrigation Systems market will bode well for the growth of the market during the forecast period. North America, on the other hand, is expected to experience exponential growth during the forecast period.This is attributable to factors such as the high awareness among people for advanced agricultural techniques in countries such as the United States and Mexico.
Merger and acquisition by private operators to drive growth
According to the Drip Irrigation Systems Market report, there are several companies looking to gain major market share and outshine their rivals during the forecast period. The adoption of strategies like facility expansion, partnership, M&A, and collaboration by key players will drive the growth of the market in the coming years. For example, in April 2017, Jain Irrigation Systems, an India-based irrigation solutions provider, announced the acquisition of two US companies: Irrigation Design, Construction Inc. (IDC) and Agri-Valley Irrigation Inc. ( AVI). With an investment of approximately $48 million, the company plans to acquire 805 stakes in the other two companies.Also, government policies to promote drip irrigation technique is expected to bode well for the market during the forecast period.
List of companies operating in the market:
- Lindsay Corporation (USA)
- Jain Irrigation Systems Ltd. (India)
- Valmont Industries (USA)
- Rain Bird Corporation (Stati Uniti)
- Reinke Manufacturing Co. Inc. (Stati Uniti)
- Netafim Limited (Israele)
- The Toro Company (USA)
- Hunter Industries (USA)
- Nelson Irrigation Corporation (USA)
- Rivulis Irrigazione Srl (Israel)
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Read more related news:
- February 2020: Lindsay Corporation, a pioneer in the irrigation market, announced the launch of a new product, Zimmatic poly pipe. According to the company, the product is beneficial for farms where the water environment is more corrosive. This launch is expected to strengthen the company’s strategic position in the market.
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