The global water situations continue to be stressed with higher number of regions falling into water scarcity. Considering the brimming demand for water across all purposeful applications, governments are unable to locate and utilize renewable fresh water resources without running them dry. Since replenishing these natural bodies is out of the option, industries as well as individuals are compelled to optimize their water usage. In spite of causing distress in every water-associated business in the world, the stressed water situation in the world has contrastingly boosted one market in particular – the global market for micro irrigation systems.
From rural agriculturists to agro-industry giants, the adoption of micro irrigation systems is gaining traction owing to their ability to improve irrigational efficiency by 50-90%. According to Future Market Insights recent report, rising scarcity of water has fuelled the demand for micro irrigation systems. In 2017, the global micro irrigation systems marketwill reach an estimated value of US$ 4,682.3 Mn. The report projects that by the end of 2027, the market will have soared at a sizeable CAGR of 13.3%, registering an estimated value of more than US$ 16,200 Mn.
In terms of region, the adoption of micro irrigation systems will be highest in Asia-Pacific excluding Japan (APEJ) region. This region has recorded the highest number of areas hit with water scarcity, and it is also recorded fastest water consumption in agriculture & manufacturing-driven economies such as India and China. The APEJ micro irrigation systems market is anticipated to account for more than 30% of global revenues by 2027. Demand for micro irrigation systems will also register lucrative growth in Latin America, as the region is expected to showcase revenue growth at 13.9% CAGR.
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Micro Sprinkler Irrigation Systems in Great Demand
Key excerpts from the report estimate that in 2017, more than 3.5 million hectares of land in the world was irrigated with sprinkler irrigation systems. During the assessment period, the report exhibits that global revenue growth accounted by sprinkler irrigation systems will be registering a 12.8% CAGR. This segment will, however, witness sluggish growth, compared to that of mini sprinkler systems. Demand for micro or mini sprinkler systems will gain traction, but at a gradual pace as this segment accounts to merely 3% of the market value. Towards the latter half of the forecast period, the global demand for drip irrigations systems is projected to gain traction, recording US$ 5,304.1 Mn in value by 2027-end.
Large private and corporate farms are expected to be largest end-user of micro irrigation systems through 2027. Over 60% of global market value will be accounted by this end-use segment by the end of 2027. Small farmers will also be observed as lucrative end-users for micro irrigation systems. The report also profiles leading players in the global micro irrigation system market, which include Chinadrip Irrigation Equipment (Xiamen) Co., Ltd., Kisan Irrigation Ltd., Finolex Plasson Industries Pvt. Ltd., Ripple Aquaplast, Irritrol, Eurodrip SA, Netafim Ltd., Jain Irrigation Systems Ltd., The Toro Company, Rain Bird Corporation, Hunter Industries, Valmont Industries, Rivulis Irrigation Ltd., Lindsay Corporation, Reinke Manufacturing Company, Inc., EPC Industries Ltd., T-L Irrigation, Elgo Irrigation, Sistema Azud SA, and Nelson Irrigation Corporation.