DUBAI, UAE, June 23, 2021 /PRNewswire/ -- As per a study by FMI, the global micro irrigation systems market is projected to report a healthy growth at a CAGR of 13% during the forecast period 2021 to 2031. The growing population size and increasing food demand across the globe are the primary drivers of the market.
According to a census conducted by the International Commission on Irrigation and Drainage, the acres of micro-irrigation have increased by 25 times over the past three decades.
Increasing adoption of micro irrigation systems in developing economies on the back of relatively low costs of purchase and installations is likely to create positive growth prospects in the assessment period.
Despite exhibiting steady growth in the last few years, the unprecedented novel coronavirus outbreak has affected the market drastically. The pandemic has disrupted the supply chain of raw materials and components amid implementation of lockdown. Nonetheless, favorable policies and financial incentives undertaken by the government are expected to energize the industry growth.
China is anticipated to lead the micro irrigation system market owing to its 118.9 thousand hectares of arable land, providing the largest area for the application of micro-irrigation. According to International Commission on Irrigation & Drainage (ICID), China is the number one ranking country in terms of micro-irrigation across the globe making it the most lucrative market for global growth.
"Leading players in the relatively fragmented micro irrigation systems market are investing in research and development (R&D) initiatives for developing innovative products such for enhancing their product portfolio and to capitalize on unexplored opportunities in emerging markets," says the FMI analyst.
Leading market players are primarily focusing on developing innovative products to expand their product portfolio and are engaging in strategic collaborations with regional players to strengthen their global footprint. For instance,
John Deere, the U.S. based company, introduced the N500C Series Air Drills, in 2019. The air drills were integrate with the latest in seeding technology, including novel ProSeries Openers, to favor small-grains producers.
In 2019, Nutrien AG Solutions, the world's largest provider of crop inputs and services and Lindsay Corporation have announced a partnership that will enable Nutrien AG Solutions in scheduling platform and remote irrigation management.
In 2021, Rother Farming started introduced new N-Drip micro irrigation systems and started trials for the same. The company claims that the systems will save around 25% of water without being as capital intensive.
Leading players profiled by FMI operating in micro irrigation system market include:
Jain Irrigation Systems Ltd.
The Toro Company
Rain Bird Corporation
Rivulis Irrigation Ltd.
Reinke Manufacturing Company Inc.
EPC Industries Ltd.
Sistema Azud SA
Nelson Irrigation Corporation
Chinadrip Irrigation Equipment Co. Ltd.
Kisan Irrigation Ltd.
Finolex Plasson Industries Pvt. Ltd.
More Insights on FMI's Micro Irrigation SystemMarket
The latest market study on global micro irrigation system market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of
Micro/Mini Sprinkler Irrigation
Conventional Sprinkler Irrigation
Central Pivot Sprinklers
Lateral Move Sprinklers
Large Private & Corporate Farming
Others (Residential Gardens, Green Houses, Plant Nurseries)
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