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The global micro irrigation system market size is expected to hit USD 12.40 billion by 2027 owing to increasing awareness among people for conserving water, finds Fortune Business Insights it its latest report, 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.” As per the report, the market value stood at USD 7.59 billion in 2019 and is projected to rise by 6.92% from 2020 to 2027.
Netafim Announces Launch of New System in India
Rising Inclination of the industry leaders to offer efficient water irrigation technique is among the top micro irrigation systems market trends. At the forefront of this trend is Netafim, a global leader in providing irrigation solutions from Israel. The company in December 2018 introduced its new technology solution, NetBeat, for the Indian market. According to the company, the technological solution is built to help the farmers grow surplus food, while requiring less amount of resources.
Additionally, it combines real-time data obtained from the field along with dynamic crop models that helps to personalize irrigation programs. Randhir Chouhan, MD, Netafim India, says, “The solution will prove beneficial to both big as well as small farmers to organize irrigation digitally. Furthermore, it combines irrigation and fertigation control, along with monitoring and managing the crops with smart DSS crop models. Moreover, it provides interface to weather forecast and remote cloud access for the field irrespective of the place or time.”
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Rising Awareness for Water Conservation to Spur Demand for Micro Irrigation Systems
Owing to rapid urbanization, the demand for water resources has increased manifold across the globe. This increasing demand is resulting in rapid decline of water reserves and other water sources globally. Furthermore, inferior irrigation practices are contributing to factors such as alkalization and salinization that result in hindering plants growth. Thereby, to improve soil fertility and crop productivity the growers are turning towards drip irrigation and sprinkler irrigation techniques that requires limited supply of water. This factor is anticipated to boost the demand for the market during the forecast period.
Merger and Acquisition Among Key Players to Stimulate their Market Position
The micro irrigation system market report observes that, the major industry players such as Netafim Limited, and Lindsay Corporation, among others are consolidating their position by trying to hold major market share. Furthermore, adoption of strategies such as merger and acquisition, novel product launches, and expansion of activities, among others by the players to maintain market presence and outshine the competitors will bode well for the growth of the market in the forthcoming years.
List of the Companies Operating in the Market:
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Table of Segmentation:
Value (USD Million)
By Crop Type