ALBANY, New York, February 11, 2016 /PRNewswire/ --
A new Transparency Market Research report states that the global micro irrigation systems market was valued at US$2.8 bn in 2013 and is predicted to reach US$8.1 bn by 2020. It is expected to expand at a CAGR of 16.20% from 2014 to 2020. The title of the report is "Micro Irrigation Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020".
As per the report, factors such as social and economic advantages of micro irrigation systems, initiatives taken by governments across the world, and the increasing adoption of these systems in developing countries have fuelled the market for micro irrigation systems. In addition, the prime advantage of these systems in increasing the crop yield by minimal wastage of water owing to direct supply of water to the plant root is another prime factor stimulating the market. On the other hand, factors such as lack of expertise in the management of micro irrigation systems and the huge costs involved in the manufacture of these systems may impede the growth of the market in the coming years.
Full Research Report on Global Micro Irrigation Systems Market with detailed figures and segmentation at: http://www.transparencymarketresearch.com/micro-irrigation-systems-market.html
On the basis of type of micro irrigation systems, the market is segmented into sprinkler irrigation systems and drip irrigation systems. Sprinkler irrigation systems are further segmented into traditional sprinklers, center pivot sprinklers, and lateral move sprinklers. Amongst these, on the basis of revenue, the segment of traditional sprinkler irrigation systems held the biggest share in the market in 2013 and is poised to maintain their superiority throughout the forecast horizon. This is owing to the high efficiency and lower initial costs of these systems as compared to other systems. In addition, traditional sprinkler irrigation systems cover larger areas and are portable in nature. These systems are utilized within applications such as large gardens, commercial lawns, and sports grounds.
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On the basis of component type, sprinkler irrigation systems are segmented into pumping, tubing, fittings, sprinkler heads, pumping units, couplers, and others including towers and spans. Likewise, drip irrigation systems are segmented into backflow preventers, tubing, filters, valves, and pressure regulators. On the basis of crop type, the market is segmented into orchard crops, plantation crops, field crops, forage and turf grasses, and others including herbs and ornamental crops.
On the basis of application, the market is segmented into public parks, sports grounds, household lawns, large gardens, and others including greenhouses and nurseries. Amongst these, in 2013, in terms of revenue, the agriculture application segment held the biggest share in the market. This segment will continue to lead the market in the forecast horizon owing to the rising requirement for high food productivity.
Browse the Press Release of this report, here: http://www.transparencymarketresearch.com/pressrelease/global-micro-irrigation-systems-market.htm
On the basis of geography, the micro irrigation systems market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, North America emerged as the biggest market for these systems owing to rising adoption of central pivot and lateral sprinkler irrigation systems in the U.S and Canada. In 2013, this region represented 36.50% of the market and is predicted to rise at a 15.60 % CAGR between 2014 and 2020.Valmont Industries, Inc., Netafim Ltd., Lindsay Corporation, Reinke Manufacturing Company, Inc., and T-L Irrigation Company, among others, are the major players dominant in the market.
The global micro irrigation systems market is segmented as follows:
Micro Irrigation Systems Market, by Type
- Sprinkler Irrigation
- Traditional Sprinklers
- Center Pivot Sprinklers
- Lateral Move Sprinklers
- Drip irrigation Systems
Micro Irrigation Systems Market, by Component Type
- Sprinkler Irrigation
- Pumping Units
- Fittings/Sprinkler Heads
- Others (Spans, Towers)
- Drip Irrigation
- Backflow Preventers
- Pressure Regulators
Micro Irrigation Systems Market, by Crop Type
- Plantation Crops
- Orchard Crops
- Field Crops
- Forage and Turf Grasses
- Others (Ornamental Crops and Herbs)
Micro Irrigation Systems Market, by Applications
- Large gardens, Public parks and Household Lawns
- Sport Grounds
- Others (Greenhouses and Nurseries)
Micro Irrigation Systems Market, by Geography
- North America
- Asia -Pacific
- Rest of the World (RoW)
Other Research Reports by Transparency Market Research:
- Drip Irrigation Systems Market: http://www.transparencymarketresearch.com/drip-irrigation-systems-market.html
- Hydraulic Thermoplastic Hose and Couplings Market: http://www.transparencymarketresearch.com/hydraulic-thermoplastic-hose-couplings-market.html
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SOURCE Transparency Market Research