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Micro Irrigation System Market Growth, Size, Share, Demand, Trends and Forecasts to 2027

Gunjan Hinge Gunjan Hinge
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The

global micro irrigation system

market


 size is expected to register a figure of USD 12.40

billion by 2027,


 while exhibiting a promising CAGR of 6.92%


 during

the forecast period. According to a report by Fortune Business Insights,

titled Micro Irrigation System Market Size, Share & Industry

Analysis, By Type (Drip Irrigation and Sprinkler Irrigation), Crop Type (Field

Crops, Orchard Crops, Landscape & Turf, and Others), Application

(Agriculture and Industrial), and Regional Forecast, 2020 - 2027

.” 

Increasing

use of advanced techniques and supportive government policies to produce good

quality crops will be the driving factors for the growth of market in the

forthcoming years.




COVID-19 Impact Analysis:



The

emergence of COVID-19 has brought the world to a standstill. We understand that

this health crisis has brought an unprecedented impact on businesses across

industries. However, this too shall pass. Rising support from governments and

several companies can help in the fight against this highly contagious disease.

There are some industries that are struggling and some are thriving. Overall,

almost every sector is anticipated to be impacted by the pandemic.



We are

taking continuous efforts to help your business sustain and grow during

COVID-19 pandemics. Based on our experience and expertise, we will offer you an

impact analysis of coronavirus outbreak across industries to help you prepare

for the future.



Micro-irrigation

technique is a type of irrigation method that requires less pressure and flow

of water when compared to other traditional irrigation techniques. It is also

known as localized irrigation, low-flow irrigation, trickle irrigation, and low

volume irrigation, among others. In addition to this, a scientific method that

requires sufficient amount of water and nutrients, this type of irrigation

yields better quality and surplus crops. Furthermore, it is most suited to

terrains that suffer from inferior quality of crop owing to high rate of

alkalization ad salinization. Micro-irrigation involves two type of techniques

such as drip irrigation and sprinkle irrigation.



What

does the Market Report Include?



The market report includes detailed information on the growth parameters such

as the drivers, challenges, opportunities, and restraints that the market will

go through during the forecast period. Furthermore, it provides qualitative and

quantitative details about the regional demographics present in the market.



Moreover,

the competitive landscape includes in-depth information of the companies

proliferating in the market and the strategies such as mergers and

acquisitions, product launches, and collaborations adopted by them to gain

market presence between 2020 and 2027.





Drivers and Restraints:




Large-Scale

Adoption of Land under Micro-Irrigation amid COVID-19 Threat to Drive the

Market




With

depleting water sources and increasing demand for good quality crops, the

growers are adding more area under micro-irrigation across the globe. Factors

such as easy mechanization and efficiency in growing wide range of crops is the

driving factor that is propelling the acceptance of the technique by commercial

property owners. This is expected to boost the market during the forecast

period. For instance, in turbulent times where every sector is reeling downward

owing to the global effects of novel coronavirus, COVID-19, farmers in Tamil

Nadu, India brought cheers to the agriculture sector. In the just concluded

financial year 2019-2020, Tamil Nadu topped the all-India level for area under

micro-irrigation. Under the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), the

state covered about 2, 06,853.25 Hectares of land during the aforementioned

financial year. Increasing adoption of land under this technique owing to its

several positive benefits for crops will contribute to the growth of the market

during the forecast period.



Regional

Analysis:




Asia-Pacific

to Remain Dominant; Adoption of Smart Farming Techniques to Fuel Growth




Among the

regions, Asia-Pacific will be at the forefront during the forecast period. With

a market share of USD 2.97 million in 2019, adoption of smart farming

techniques will further propel the market growth during the projected horizon.

Moreover, increasing investment by major players owing to lucrative

opportunities to gain maximum micro irrigation system market revenue will bode

well for the growth of the market during the forecast period. North America, on

the other hand, is anticipated to register exponential growth during the

forecast period. This is attributable to factors such as high awareness among

the people for advanced farming techniques in countries such as the U.S. and

Mexico.




Competitive Landscape:



Merger

and Acquisition by the Private Players to Promote Growth




According to

the micro irrigation system market report, there are several companies striving

to gain major market share and outshine their rivals during the forecast

period. Adoption of strategies such as expansion of facilities, partnership,

merger and acquisition, and collaboration by the key players will drive the

market growth in the forthcoming years.



For

instance, in April 2017, Jain Irrigation Systems, an India-based irrigation

solution provider, announced its acquisition of two U.S. companies- Irrigation

Design, Construction Inc. (IDC), and Agri-Valley Irrigation Inc. (AVI). With an

investment of about USD 48 million, the company plans to acquire 805 stakes in

the two other companies. Moreover, government policies to promote micro-irrigation

technique is expected to bode well for the market during the forecast period.



Browse

Detailed Research Report with Table of Content:   



https://www.fortunebusinessinsights.com/micro-irrigation-system-market-102839