Micro Irrigation System Market overview:
Micro-Irrigation System Market is expected to grow at a 5.75% CAGR from 2022 to 2030, reaching USD 949.61 million by the end of 2030.
The increased level of urbanization necessitates a significant increase in the global Micro Irrigation System Market, particularly during the forecast period. One of the most important factors is that market products can fit into small and compact spaces. It also aids in the reduction of installation, civil, and labor costs. These factors will aid the market’s expansion and operations during the forecast period, which concludes in 2028. Another factor driving the market’s growth by the end of the forecast period is an increased demand for the availability of freshwater resources. Farmers can maintain the same yield levels even during a drought year by using micro-irrigation systems because the required use of water resources ensures a high yield with such systems. These are some of the key drivers driving the growth of the Micro-irrigation System Market in tropical countries where droughts are common.
The arrival of the novel coronavirus pandemic has affected market size. The markets have been experiencing a shortage of resources and skilled labor, limiting the market’s ability to meet the growing needs of the target audience. As a result, markets and governments are increasing their investment in research and development departments to prevent water waste and promote optimal and prudent use. Several global food companies have taken steps in recent years to market their products sustainably produced. This is a distinguishing feature of the final products, which has proven profitable for businesses and increased their market share. Micro-irrigation systems are one of how the company can ensure that raw material production is done sustainably. A Micro-irrigation system removes excess water not consumed by crops, thereby limiting environmental degradation and water table depletion. This is an opportunity for the Micro-irrigation System Market because these agricultural and food companies operate on very large scales, either using their farms or contracting through small farmers.
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The Global Micro-Irrigation System Market is segmented based on Crop, Type, Component, and End-User.
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The Global Micro-Irrigation System Market is segmented geographically into North America, Asia-Pacific, Europe, and the Rest of the World.
The Asia-Pacific market is expected to grow at the fastest CAGR due to rising demand for organic products and increased adoption of micro-irrigation systems by rural farmers. Moreover, the widespread use of advanced micro-irrigation systems for fertigation, such as drip and micro-sprinkler irrigation, is also the driving factor for the market in this region. The government is also investing in irrigation as part of a larger pro-rural policy package to boost agriculture.
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Sprinkler Irrigation Systems Market Research Report: Information by Type (Center Pivot, Lateral Move, Solid Set and others), Crop Type (Cereals, Oilseeds and Pulses, Fruits and Vegetables and others), Mobility (Stationary and Towable) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2027
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