Micro Irrigation Systems Market CAGR goes up to 31.7% in Asia Pacific Region, 2020-2027

 

Micro Irrigation Systems Market

Irrigation is the application of water to dry ground in order to cultivate crops. Water is supplied at regular intervals above and below the soil's surface via the micro-irrigation method. Micro-irrigation systems are typically low- or medium-pressure systems that provide water in the form of sprinklers, sprays, mists, drips, and jets. Due to increased worries about water shortage, micro irrigation systems appear to be a more inventive and effective alternative than traditional irrigation approaches. The two key drivers driving the micro-irrigation systems market are a growth in demand for food and agricultural goods, as well as an increase in water supply and storage issues.

The high initial investment and maintenance costs of the micro-irrigation technology are impeding market expansion. A micro-irrigation system is not a viable alternative for a farmer with a small farm. However, a rise in corporate investment is predicted to mitigate the impact of these constraints. Several businesses create low-cost equipment for this industry. The high cost of equipment and the limited level of commercialization in emerging nations provide hurdles to the micro-irrigation sector.

According to Coherent Market Insights, Asia Pacific region dominated the global Micro Irrigation Systems Market in 2019, accounting for 31.7% share in terms of value, followed by North America and Europe respectively.

Micro-irrigation systems are modern irrigation systems that deliver water to cropland via sprinkles and spray. Sprinkler irrigation, lateral irrigation, move irrigation, drip irrigation, and center-pivot irrigation are all types of irrigation systems. Micro-irrigation systems are a very effective option for optimising crop water consumption and protecting crops from abiotic and biotic challenges.s

Water scarcity - Water is becoming increasingly scarce and must be used wisely. The agriculture industry consumes the most water globally, followed by the industrial and personal usage sectors. Micro-irrigation reduces water waste by using water in the form of spray, mist, drip, and other forms. Thus, micro-irrigation techniques increase agricultural yield while decreasing virtual water requirements. As a result, the impact of water shortage is notable at the moment; nevertheless, it is predicted to worsen throughout the projection period due to dwindling supplies, environmental conditions, and expanding population.

Government Support- The government plays an important role in assisting farmers in establishing micro-irrigation systems by giving subsidies to small-scale farmers. Many regional governments give farmers with free power. Farmers in underdeveloped nations are urged to use micro-irrigation devices to boost production by utilising less water. Government encouragement is a significant driver of the market, and it is likely to have a significant influence on the industry throughout the forecast period.

Expensive Initial Investment- Because costly components are utilised in the system, the installation of micro-irrigation systems is expensive at first. This limits the global micro-irrigation systems market. The growth in component and system pricing is also projected to amplify the market impact of the large initial investment. As a result, large initial investment now has a significant influence on the market, which is likely to expand throughout the projection period.

Top Companies covered are- Netafim, Jain Irrigation System Limited, John Deere & Company, EPC Industries, ELGO Irrigation Ltd., Hunter Industries, Inc., Lindsay Corporation, Valmont Industries, Inc., and Rain Bird

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