NEW YORK, Nov. 17, 2016 /PRNewswire/ -- "Microirrigation systems market is projected to grow at a CAGR of 18.3%"
The microirrigation systems market, estimated at USD 2.53 billion in 2015, is projected to grow at a CAGR of 18.3%, to reach USD 6.81 billion by 2021. The market is primarily driven by factors such as increasing water scarcity in most of the regions of the world and improved crop production with the use of micro irrigation systems. The high growth potential in the Asia-Pacific region and untapped regions provide new growth opportunities for market players.
"Drip microirrigation systems led the market with the largest share in 2015"
On the basis of type, the microirrigation systems market is led by the drip microirrigation segment, followed by microsprinkler. Drip microirrigation system has been widely used, globally. It reduces nutrient loss, minimizes leaching, reduces growth of weed, checks soil erosion and reduces cost of energy since it operates in lower pressure than other irrigation systems.
"Asia-Pacific: The future of the microirrigation systems market"
Asia-Pacific is projected to be the fastest-growing market for the period considered for this study, due to growing demand for water and increasing water scarcity. India and China will be the major and the fastest-growing microirrigation systems market in the Asia-Pacific region for the next five years, due to high stress on water sources, owing to increasing population.
The microirrigation systems market is led by North America followed by Asia-Pacific. The U.S. microirrigation systems market not only dominates North America but also the global market.
Break-up of Primaries:
- By Company Type: Tier 1 – 35 %, Tier 45%, and Tier 3 – 20%
- By Designation: C level – 35%, Director level – 25%, and Others – 40%
- By Region: North America - 30%, Europe – 20%, Asia-Pacific – 45%, and RoW – 5%
Leading players profiled in this report:
- EPC Industries Limited (India)
- Jain Irrigation Systems Limited (India)
- Lindsay Corporation (U.S.)
- Nelson Irrigation Corporation (U.S.)
- Netafim Limited (Israel)
- Rain Bird Corporation (U.S.)
- T-L Irrigation (U.S.)
- The Toro Company (U.S.)
- Valmont Industries Incorporated (U.S.)
- Hunter Industries Incorporated (U.S.)
Reasons to buy this report:
- To get a comprehensive overview of the global microirrigation systems market
- To gain wide ranging information about the top players in this industry, their product portfolios and key strategies adopted by them
- To gain insights about the major countries/regions in which the microirrigation systems market is flourishing
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