November 25, 2019
According to the latest study titled ‘Global Micro Irrigation Market (Drip Irrigation, Sprinkler Irrigation), By Region, By Country (2018 Edition): Opportunities and Forecast (2013 - 2023)- By Region (North America, Europe, APAC, ROW), By Country (U.S., Mexico, United Kingdom, Italy, India, China, Australia, Israel)’ available with Market Study Report LLC, the global micro irrigation market is estimated to grow with a CAGR of 16.15% through the year 2023.
Micro irrigation is done by watering frequently using small quantity of water. This method effective saves water and provides enough moisture to the roots of plants. With deviation from normal to lower rainfall cycle in many regions and increased occurrence of droughts, water scarcity has become a major issue. Rising preference for effective utilization of water, coupled with adoption of innovative irrigation techniques and numerous government subsidies will bolster the growth of micro irrigation market.
The study examines the market for revenue shares of each segment and offers information about the growth patterns. It analyses the competitive landscape of micro irrigation market using SWOT analysis and Porter’s Five Force analysis methods. Information about the market dynamics influencing the industry growth is also given in the report.
Based on type, micro irrigation market is segmented into sprinkler irrigation, drip irrigation, center pivot irrigation, furrow irrigation, and surface irrigation. The study cites that drip irrigation segment is presumed to expand significantly over the predicted time period, as it is an effective system to address the issues like water scarcity and lack of water storage.
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Considering the geographical landscape, the global micro irrigation market is divided into four major regions, namely, North America, Europe, APAC, and rest of the world, with key focus on countries including Mexico, U.S., U.K, India, Italy, Australia, China, and Israel. As per the report, North America micro irrigation market registered the largest regional share in 2018, owing to increasing population, rising awareness about advantages of micro irrigation, and advancement of cost-effective technologies.
Some of the vendors that operate in micro irrigation market are The Toro Company, Netafim, RainBird Corporation, Jain Irrigation, Lindsay Corporation, Valmont Industries, Nelson, T-L Irrigations, and Rivulis Corporation.