Global micro irrigation systems market was worth US$ 2,594.7 Mn in 2014 and is expected to reach US$ 9,140.2 Mn by 2023.
ALBANY, NY, USA, September 17, 2020 /EINPresswire.com/ — The agricultural sector is making room to absorb new and innovative technologies. The magnitude of change across the agricultural sector has been phenomenal, and the industry has swiftly transitioned from manual techniques to automated technologies. The deployment of automation technologies in agriculture has unlocked host of opportunities for economic growth. Several countries rely on net positive outputs across the agricultural sector for socio-economic development. Hence, national governments willingly invest in cutting-edge technologies that can enhance agricultural productivity.
Irrigation systems are the life and blood of farmlands, and this is a key consideration for vendors within the micro irrigation systems market. However, agriculturists are faced with the challenge of optimizing water-usage without compromising on the health of crops. Hence, the use of micro irrigation systems is expected to gather momentum in the years to follow. Automation technologies have been a source of erudition for agriculturists who are now vouching for smarter and more efficient models. Micro irrigation systems have replaced flow irrigation systems across several prosperous countries.
The favourable opportunity cost for using micro irrigation systems has generated renewed demand within the global market. Furthermore, agriculturists in regions with robust economies have become more liberal toward the use of modern technologies.
A report by Transparency Market Research (TMR) predicts that the global micro irrigation systems market would expand at a starry CAGR of 15.3% over the period between 2017 and 2023. The global value of the micro irrigation systems market is expected to reach an unprecedented value by the end of the forecast period. Integration of automated systems with the agricultural sector has played a vital role propelling market demand.
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Use of Micro Irrigation in Vineyards and Orchards
The growing popularity of grapes, dry fruits, and nuts has led to expansive areas of land being dedicated to vineyards and orchards. This factor has played an integral role in the growth of the global micro irrigation systems market. Furthermore, activities pertaining to maintenance of ecological parks and plantation avenues across streets has also spearheaded the growth of the global market.
Regulations Related to Water Harvesting
Scarcity of water has brought several industries under the radar of focus. Governments have stipulated several regulations with regard to the use of water across industries. Water harvesting is closely related to the use of micro irrigation systems, and this factor is evident across the agricultural sector. Hence, growing concerns related to water conservation and harvesting shall create a lucrative growth path for the global micro irrigation systems market.
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Asia Pacific Opens Doors to Innovative Technologies
On the basis of regions, the global micro irrigation systems market can be segmented into Latin America, the Middle East and Africa, Europe, North America, and Asia Pacific. The agricultural sector in Asia Pacific has attracted substantial investments due to the dependency of the Indian economy on agricultural activities. This factor has played a defining part in the growth of the micro irrigation systems market in Asia Pacific.
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Vendors to Capitalise on Existing Micro Irrigation Projects
Several micro irrigation projects including Bagalkot’s Ramthal Marol Drip Irrigation project have lined the global landscape. Leading vendors are expected to capitalise on the humongous investments made toward such projects. Moreover, acquisition of Netafim Ltd, the Israelian micro irrigation system company, by the Mexico-based Mexichem has emerged as a key market development. This strategy shall continue to inspire other acquisitions across the global micro irrigation market.
The review is based on TMR’s report titled, “Micro Irrigation Systems Market (Type – Sprinkler Irrigation (Traditional, Center Pivot, and Lateral Move) and Drip Irrigation; Component – Sprinkler Irrigation Systems (Tubing, Pumping Unit, Fittings & Sprinkler Heads, Couplers, Spans, and Towers) and Drip Irrigation Systems ( Drippers, Tubing, Backflow Preventers, Valves, Filters, Pressure Regulators, and Fittings) – Application – Small Farmers, Government, and Large Private and Corporate Farming ) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2023.”
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Source: EIN Presswire