Microirrigation System Market To Reach USD 17.2 Billion By 2027 | CAGR 17.4% - Forencis Research

Microirrigation System Market Size, Share, Trends, Growth, Analysis, Research

Global Microirrigation System Market: Key Highlights

  • According to the new market research report Microirrigation System Market by Type (Drip Irrigation, Sprinkler Irrigation, and Others), by Components (Drippers, Valves, Filters, Pressure Regulators, and Others), by Application (Field Crops, Plantation Crops, Orchards & Vineyards, and Others), by End-User (Open Fields and Greenhouse), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America,) – Global Forecast (2020 to 2027)”, the global microirrigation system market is estimated to reach USD 17.2 Billion by 2027 at a CAGR of around 17.4% during the review period.
  • Rising food demand owing to the growing population has required need for enhanced agriculture output, driving the growth for microirrigation system
  • Growing use of water globally coupled with population increase has expected to use microirrigation systems for agriculture purpose, boosting the product market demand
  • According to UN-Water, American Association for the Advancement of Science, in 2016 around 4 billion people experienced severe water scarcity
  • However, high initial investment cost remains a major restraining factor for the growth of the microirrigation system market

Microirrigation System Market

Global Microirrigation System Market: Key Market Dynamics

  • Climate change and severe drought in some countries across the world has boosted the use of microirrigation through various law regulations
  • The increasing area under greenhouse cultivation coupled with rapid technological innovation is expected to drive the growth of the product market
  • Inclination towards higher crop yield with minimal use of water coupled with growing water scarcity has expected to drive the growth of microirrigation system market
  • Government initiative for encouragement in the adoption of microirrigation system has expected to boost the market growth 
  • Higher maintenance cost associated with the system may hinder the growth of microirrigation system market

Global Microirrigation System Market: Regional Overview

  • Asia-Pacific

The microirrigation system market in the Asia Pacific region is projected to witness high demand owing to the maximum number of emerging countries such as India, China, Japan, Indonesia, and others. The government in these countries has increasing subsidiaries for the utilization of microirrigation system is one of the major factor responsible for growth of market in the region. For instance, the government of India has launched Pradhan Mantri Krishi Sinchai Yojana (PMKSY) or Prime Minister’s Agriculture Irrigation Program, July 2015. This policy was initiated shift towards the use of microirrigation for saving water in agriculture and increase crop yield. 

  • North America

North America is expected to have the largest share in microirrigation system market which is attributed by factors such as water loss is restricted from evaporation and damage. Additionally, the rising food processing industry has boosted the stronger demand for orchard crops which will further boost market growth. Moreover, the government programs and regulatory outline has also expected to boost the microirrigation system market.

 

Global Microirrigation System Market: Key Players Overview

  • NETAFIM:

NETAFIM was incorporated in 1965, is one of the global leader in precision agriculture with drip irrigation. Currently, 80% of Netafim shares are held by Mexichem, the global leader in water conduction solutions for building and infrastructure, and the remaining 20% shares are held by Kibbutz Hatzerim (Israel), one of Netafim’s founding organizations. The company has 29 commercial subsidiaries, 17 factories in 13 countries, and customers in more than 110 countries across the globe. In February 2019, Bayer, Netafim and BGN Technologies, the technology company of Israel’s Ben-Gurion University announced and signed a 3-year research collaboration. This will combine leading soil research, digital prediction tools, and state-of-the art drip technology by Netafim to develop best practices for using drip irrigation as a delivery system.

  • Jain Irrigation Systems Ltd:

Jain Irrigation Systems Ltd was founded in 1887 and is the second-largest microirrigation company across the globe. The company has a global presence with 33 manufacturing plants with more than 11,000 suppliers and distributors. The company operated in micro & sprinkler irrigation, PVC piping, Biotech tissue culture, PE piping, onion and vegetable dehydration, fruit processing, PVC sheets, and green energy. In September 2018, Jain Irrigation Systems Ltd acquired ET Water Systems Inc., a California, US-based company that offers irrigation technology products. This will expand the Jain Irrigation’s water management technology product offerings, also will strengthen its position in the U.S. smart agriculture market.

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of market research reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets.

Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.

Contact Us:

FORENCIS RESEARCH

USA
Aurora
CO 80014

Phone: +1 (720) 306 9020

Email: sales@forencisresearch.com 

Website: www.forencisresearch.com

Rep Id : AG 03

Published : 2020-02-04

Related Reports