Market Research Report
GLOBAL MICRO IRRIGATION SYSTEMS MARKET FORECAST 2017-2025
|Published by||Inkwood Research||Product code||503252|
|Published||Content info||162 Pages
Delivery time: 1-2 business days
|GLOBAL MICRO IRRIGATION SYSTEMS MARKET FORECAST 2017-2025|
|Published: May 16, 2017||Content info: 162 Pages||
The Global Micro Irrigation Systems market is expected to grow from USD 3923.0 million in 2017 and estimated to grow up to USD 14867.8 million by 2025, at 18.12% CAGR during 2017-2025. The base year considered for the study is 2016 and the forecast period is between 2017 and 2025. Rising awareness regarding the importance of irrigation system and its usefulness in waste water utilization, fresh water conservation, increased demand from nursery and commercial gardens, are the major factors for the increasing adoption of MIS.
The market is segmented by type on the basis of micro-sprinklers, micro bubblers, drippers and drip tubing. It is also segmented by application on the basis of fields, forage and turf grass, orchard crops and plantation. Changing attitude of farmers, high initial set up costs are restricting the growth of the market. Waste water utilization and fresh water conservation are the new developments that act as opportunities for the micro irrigation systems market. Over irrigation, clogging issues and trouble in discovering issues related to micro irrigation system are some of the challenges faced by the micro irrigation systems market.
North America is the global leader in the Micro Irrigation Systems market withholding, 34.10% revenue share of the global market. The MIS market in North America is growing steadily. Agriculture is a major user of ground and surface water in the region, accounting for about 80 percent of consumable water. Thus, the need of efficient irrigation systems and water management practices to help in maintaining farm profitability in an era of increasingly limited and costly water supplies is rising. In turn, propelling the demand of North American MIS market. Asia-Pacific is the fastest growing MIS market with CAGR 23.55% for the forecast period of 2017-2025. China and India are among the world's top agricultural producers, having 2.5 billion citizens to feed: nearly a third of humanity. As such, they are not likely to add materially to international food supplies. Four-fifths of China's grain harvest and close to three-fifths of India's comes from irrigated land. With the economies like China, India, which has agriculture as their backbone, it is foreseen that Asia Pacific will command the market soon.
The market is majorly dominated by companies such as Rain bird corp. (U.S), Jain irrigation system, The Toro Company, Irrigation and water technologies and others.