PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1295437
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1295437
According to MarketsandMarkets, the microirrigation systems market is projected to reach USD 17.8 billion by 2028 from USD 10.4 billion in 2022, at a CAGR of 9.4% during the forecast period in terms of value. The probiotics in the animal feed market comprises of both drip and micro sprinkler types; although the drip form holds a larger market share, the micro-sprinkler type is driven by factors such as their high usage for high-value crops. The demand for drip type in microirrigation systems market is mainly due to factors such as increased usage of calcium on a wide range of crops. The major constraints and challenges are high initial investment, continuous maintenance requirements, and lack of timely reimbursement for subsidies which, in turn, hinder the growth of the microirrigation systems market.
"By type, drip microirrigation system is projected in high demand during the forecast period."
Drip irrigation is considered to be highly suitable for widespread and highly valued commercial crops, it is increasingly being applied to fields of oilseeds, pulses, cotton, and wheat. Research has proven that this system of irrigation can also be operated efficiently in undulating terrains, rolling topography, barren lands, and areas with shallow soil layers. This is an advantage that drip irrigation offers. Given the constant pressure of the global population and the resultant requirement of agricultural commodities, there is a need to increase the area under cultivation. Microirrigation facilities, particularly drip irrigation, are viable methods of expanding the area under cultivation. Apart from irrigation efficiency, drip irrigation systems help in saving labor costs and fertilizers used with less weed growth. All these benefits imparted by drip microirrigation system is driving its market and high demand.
"By crop type, orchard crops & vineyards is expected to dominate the market for microirrigation systems"
Irrigation scheduling can be managed precisely to meet grapevine demands, holding the promise of increased yield and fruit quality. Emitters evenly spaced on the tubing ensure that water is distributed uniformly to each plant. The emission device and its flow rate and spacing depend on the age of the vines being grown and the soil texture. Microirrigation is known for its flexibility. Each system is custom designed to fit the needs of the vineyard to maintain optimum moisture at the plant root zone. As they apply water directly to a plant's roots, a minimal amount of water is wasted, and drip systems can operate at up to 95 percent uniformity. These systems are therefore perfect for drought-plagued areas. As a result, these systems are majorly used for orchard crops and vineyards. Thus, the crop type is dominating the microirrigation systems market.
Asia Pacific will significantly contribute towards market growth during the forecast period
Geographically, the region is segmented as China, Australia, India, Thailand, Indonesia, Philippines, Uzbekistan, Kazakhstan along with Rest of Asia Pacific. The microirrigiation systems market in Asia-Pacific is growing primarily due to factors such as growth in population, rapid urbanization in the Asia Pacific region, rise in disposable incomes, and specifically due to agriculture as the primary occupation in these regions that creates demand for irrigation systems.
Moreover, Major countries, such as Malaysia, Vietnam, Indonesia, and India, are middle-income countries and are working toward increasing subsidies in microirrigation activities to obtain self-sufficiency in terms of food products. Countries such as China are seeking to increase spending on irrigation systems and are projected to grow in the region.
By Company Type: Tier1-45%, Tier 2-33%, Tier 3- 22%
By Designation: C-level-45%, D-level - 33%, and Others- 22%
By Region: North America - 10%, Asia Pacific - 50%, Europe - 15%, South America-13%, RoW - 12%,
Others include sales managers, territory managers, and product managers.
The study includes an in-depth competitive analysis of these key players in the microirrigation systems market with their company profiles, recent developments, and key market strategies.
The report segments the microirrigation systems market on the basis of Type, Crop Type, End User, and Region. In terms of insights, this report has focused on various levels of analyses-the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global microirrigation systems market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall microirrigation systems market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.