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Micro Irrigation System Market to Rise at 6.92% CAGR by 2027; Netafim’s Launch of New Technological Solution to Spur Growth Opportunities

May 29, 2020 | Agriculture

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.”


To get a detailed report summary and research scope of this market, click here:


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


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.


Industry Development:



  • March 2019: Rain Bird Corporation, a leading irrigation solution provider, announced its launch of new in-ground sprinkler system, LG3HE. According to the company, the new sprinkler system is very easy to install and further does not require trenching for carrying out underground tubing activities. The launch of the new system is likely to propel the position of the Company in the market.


List of the Companies Operating in the Market:



  • Lindsay Corporation (U.S.)

  • Jain Irrigation Systems Ltd. (India)

  • Valmont Industries (U.S.)

  • Rain Bird Corporation (U.S.)

  • Reinke Manufacturing Co. Inc. (U.S.)

  • Netafim Limited (Israel)

  • The Toro Company (U.S.)

  • Hunter Industries (U.S.)

  • Nelson Irrigation Corporation (U.S.)

  • Rivulis Irrigation Ltd. (Israel)


Further Report Findings:



  • Asia-Pacific, with its market share of USD 2.97 million in 2019, is expected to hold the lion’s share in terms of micro irrigation system market revenue during the forecast period. This is ascribable to factors such as fast-paced adoption of smart farming and availability of advanced farming tools owing to presence of major market players in countries such as China and India.

  • The market in North America will register augmented growth during the forecast period. This is attributable to factors such as higher rate of awareness among the population for advanced farming techniques in countries such as the U.S. and Mexico.

  •  The segment drip irrigation (based on type) held the largest market share at 66.19% during 2019 owing to its being highly efficient in conserving water and proving beneficial to reduce the effects of salinization.

  • The segment Agriculture (based on application) is anticipated to be the major area of application backed by large-scale requirement of water and government efforts to promote efficient and water-conserving techniques of irrigation to produce high quality crops.


Table of Segmentation:











































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million)



Segmentation



By Type



  • Drip Irrigation

  • Sprinkler Irrigation



By Crop Type



  • Field Crops

  • Orchard Crops

  • Landscape & Turf

  • Others (Forest Crops, Vegetables, Nursery, etc.)



By Application



  • Agriculture

  • Industrial



By Region



  • North America (U.S., Canada, and Mexico)

  • Europe (Spain, Italy, Greece, France, Russia, and the Rest of Europe)

  • Asia-Pacific (China, India, Japan, Australia, and the Rest of Asia- Pacific)

  • South America (Brazil, Argentina, and the Rest of South America)

  • Middle East & Africa (South Africa, Saudi Arabia, and the Rest of the MEA)


Micro Irrigation System Market
  • PDF
  • 2019
  • 2016-2018
  • 150

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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