Market Research Report
Microirrigation Systems - Global Market Outlook (2019-2027)
|Microirrigation Systems - Global Market Outlook (2019-2027)|
Published: July 1, 2020
Stratistics Market Research Consulting
Content info: 180 Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Microirrigation Systems Market is accounted for $5.18 billion in 2019 and is expected to reach $21.67 billion by 2027 growing at a CAGR of 19.6% during the forecast period. Some of the factors driving the growth of the market are low-cost irrigation technique and rapid growth in greenhouse vegetable production. However, the high initial investment is hampering the growth of the market.
Micro-irrigation systems are generally low- or medium-pressure systems that distribute water in the form of sprinkles, spray, mist, drip, and jet. Due to the rise in concerns of water scarcity, micro-irrigation systems prove to be an inventive and efficient solution as compared to conventional irrigation practices. The two major factors that drive the micro-irrigation systems market are an increase in the demand for food and agriculture products and a rise in water supply & storage problem.
Based on the application, the orchard crops and vineyards segment is going to have a lucrative growth during the forecast period owing to the changing consumer lifestyle and increase in disposable income has accentuated the demand for orchard fruits. Increasing food & beverage industry has further upsurged the demand for several orchard fruits including mango, sweet orange, acid lime and sapota for various consumables. Factors such as low labour needs and continuous ideal moisture conditions for orchard crops root development will fuel product application scope.
By geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the countries in the Asia-Pacific region such as China, India, Israel, and Australia produce fruits & vegetables along with an increase in demand from the government to grow forage and turf grasses. With growing awareness among farmers regarding the benefits of using micro-irrigation systems, application on field crops in this region is also rising.
Some of the key players profiled in the Microirrigation Systems Market include The Toro Company, Jain Irrigation Systems Ltd, Rain Bird Corporation, Hunter Industries, Lindsay Corporation, EPC Industries Limited, Netafim Limited, Nelson Irrigation Corporation, Valmont Industries, Inc, and T-L Irrigation.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.