According to findings from the most recent report by Future Market Insights (FMI), an ESOMAR-certified research and consultancy firm, the global market for micro irrigation systems is predicted to develop at an exponential pace of about 9.5% CAGR through the end of 2033. The paper offers in-depth analyses of more than 20 fast-growing regional markets and extensive information on the possibilities for micro irrigation systems over the next ten years.
Through 2033, it is anticipated that the market for micro-irrigation systems will expand tremendously at a rate of above 9.5% CAGR. Advanced irrigation methods are in demand due to increased food consumption, notably in Asia and other regions with developing economies.
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Micro irrigation systems are gaining importance in the agriculture sector, owing to their efficacy in minimizing the effects of drought conditions, at comparatively low costs. Increasing demand for water and concerns over scarcity of this natural resource, with its effects in terms of quality and crop yield will play key roles in driving the growth of the market. Growing interest in greenhouse farming is also driving micro-irrigation systems in specialized farms.
The study by FMI has analyzed the global demand for micro irrigation systems, in terms of macro-economic factors, the impact of the covid-19 pandemic, and market landscape. As per the scope of research conducted by FMI, the market has been studied on the basis of consumer interests, product segments, and regional influences, in addition to qualitative data on the players operating in the market covering both supply and demand.
Key Takeaways from Micro Irrigation Systems Market Study
- Drip irrigation systems are estimated to hold the lead, supported by lower purchase and installation costs, in addition to low water use.
- Micro farming applications will reflect a relatively higher rate of growth, driving demand for lateral move and central pivot products.
- United States will hold significant market share owing to the concentrated presence of market leaders in the country.
- India and China will account for a high rate of growth, supported by an agrarian economy and favorable government initiatives in the industry.
- Access to technologies associated to mechanized irrigation systems are generating opportunities in the Middle East and Africa region.
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Key Segments Profiled In The Global Micro Irrigation Systems Market
By System Type:
- Drip Irrigation,
- Micro/Mini Sprinkler Irrigation,
- Conventional Sprinkler Irrigation,
- Traditional Sprinklers,
- Central Pivot Sprinklers,
- Lateral Move Sprinklers
By End-use:
- Agriculture
- Landscape Irrigation
- Greenhouse Irrigation
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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