Market Research Report
Micro-irrigation Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Micro-irrigation Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 102 Pages
Delivery time: 2-3 business days
The global micro-irrigation systems market is projected to register a CAGR of 10.9% during the forecast period (2016-2026). Despite qualifying as essential services during lockdowns in many countries, irrigation agencies faced a difficult time in securing equipment, inputs, and maintenance. They also faced significant fiscal stress due to additional costs and lower revenues from state transfers and tariffs. Furthermore, it is noted that a lack of accessibility to irrigation equipment and other inputs was the major issue that farmers faced. Micro-irrigation technologies are one of the most effective systems used by farmers in many developed economies, in order to reduce water wastage. Thus, major companies, like Netafim Ltd, offer drip irrigation systems that can be embedded in pipes, in order to simplify the process of installation, while creating sustainable agricultural production and improving the livelihood and economic position of millions of smallholder farmers. Automatic drip irrigation is essential for controlling soil moisture, especially in the case of specialized greenhouse vegetables. Total automation of drip irrigation systems provides a simple, meticulous method for controlling soil moisture and applying water. Effective time management, elimination of human errors, in terms of estimation, and adjustment of available soil moisture levels are some of the factors augmenting the demand for automatic drip irrigation systems. Furthermore, these systems are expected to increase profits generated per yield.
The micro-irrigation systems market is primarily driven by factors, such as the need to increase crop productivity while addressing water scarcity issues. Thus, governments are focusing on formulating initiatives to increase the usage of micro-irrigation systems, while limiting water shortage. With water increasingly becoming a scarce commodity, farmers have been seeking novel ideas to grow more crops with the same quantity of water. Micro-irrigation systems, including sprinklers and drippers, are witnessing high demand. This is expected to augment the growth of the market studied. The Indian Agricultural Research Institute (IARI) established the design of a micro-irrigation system (DOMIS), a web-based application system that helps in designing customized micro-irrigation systems for efficient water utilization under several agro-climatic conditions. Furthermore, the institute is planning to develop devices that utilize low amounts of water to help farms. The global population has been increasing significantly over the past few years, along with the demand for food. Sprinkler and drip irrigation systems provide limited quantities of water to farms, with minimal wastage, as compared to conventional gravity flow irrigation.
China is one of the leading manufacturers of micro-irrigation system components. China exports micro-irrigation system components to many nations, and its exports are further expected to grow in the future. The Asian Development Bank is encouraging small farmers in China to use micro-irrigation. India is largely dependent on rainfed agriculture. The use of a micro-irrigation system may help the Indian agriculture sector reduce the dependence on rain and also can help in increasing productivity. The most popular technologies being used in India are drip irrigation and sprinkler irrigation. Drip irrigation has the highest market share in India. Furthermore, the Indian Government approved the initial aggregation of USD 702.3 million to set up a Micro-Irrigation Fund (MIF) in May 2018 and the National Bank for Agriculture and Rural Development (NABARD). This fund is registered under the Pradhan Mantri Krishi Sinchayee Yojna (PMKSY). Adoption rates of micro-irrigation Apart from China and India, countries such as Vietnam, Korea, Bangladesh, and Pakistan, continue to have a large market share.
The global micro-irrigation Systems Market is consolidated, with the top five companies accounting for more than 60% of the market share. With the government's thrust on augmenting the penetration of water conservation and efficiency driven by micro-irrigation systems, the market is expected to witness double-digit growth in the future. The major players in the market include Jain Irrigation Systems Limited, Netafim Limited, Lindsay Corporation, Rivulus Irrigation Limited, and The Toro Company, among others.