Rising water scarcity issues coupled with increasing population has surged the demand for agricultural production. This is expected to drive the global micro irrigation system market growth over the next few years. Proper water and resource management in landscape, greenhouse, and agriculture are expected to create demand for micro irrigation systems which is further expected to fuel market growth. The growth may also be attributed to favorable government initiatives across both developed and developing economies providing purchase benefits such as subsidies resulting in increased adoption of micro irrigation systems. Micro irrigation systems are most likely to be used in conditions/places, where labor is scarce and expensive or where medium to large areas need to be irrigated precisely and frequently with minimum waste of time and water.
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The increasing need for efficient and effective cultivation and agricultural techniques coupled with yield optimization to meet the requirements of rapidly increasing population is expected to surge demand for micro irrigation systems’ market growth. However, high initial investments and maintenance costs of micro irrigation systems are expected to hinder the micro irrigation system market growth over the forecast period. Additionally, inability of micro irrigation systems to favor farmers having less area of cultivation is also expected to hinder market growth. Furthermore, the narrow level of commercialization in developing countries poses to be a challenge to the micro irrigation system market growth. However, companies emphasize on investments in research & development activities as well as on developing cost-effective equipments in order to overcome the aforementioned challenges. Vendors operating in the micro irrigation system market focus on targeting developing countries to gain competitive advantage. New product launches and development were found to be the most preferred growth strategy in the micro irrigation system market.
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Micro irrigation systems encompass traditional sprinklers, center pivot sprinklers, drip irrigation systems, and lateral move sprinklers. The market is categorized on the basis of crop type into ornamental crops & herbs, field crops, forage & turf grasses, orchard crops, and plantation crops.
Key market participants include Valmont Industries Inc., The Toro Company, Rain Bird Corporation, Netafim Ltd., Nelson Irrigation Corporation, Lindsay Corporation, Jain Irrigation Systems Ltd., EPC Industries, Deere & Company, and T-L Irrigation Co.
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