The global micro irrigation systems market size is expected to
register figure of USD 12.40 billion by 2027, while exhibiting a promising CAGR
of 6.92% during the forecast period. According to a report by Fortune Business
Insights, titled “Micro Irrigation Systems Market Size, Share &
Industry Analysis, By Type (Drip Irrigation and Sprinkler Irrigation), Crop
Type (Field Crops, Orchard Crops, Landscape & Turf, and Others),
Application (Agriculture and Industrial), and Regional Forecast, 2020 - 2027.” Increasing
use of advanced techniques and supportive government policies to produce good
quality crops will be the driving factors for the growth of market in the
forthcoming years.
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Micro-irrigation technique is a type of irrigation method that
requires less pressure and flow of water when compared to other traditional
irrigation techniques. It is also known as localized irrigation, low-flow
irrigation, trickle irrigation, and low volume irrigation, among others. In
addition to this, a scientific method that requires sufficient amount of water
and nutrients, this type of irrigation yields better quality and surplus crops.
Furthermore, it is most suited to terrains that suffer from inferior quality of
crop owing to high rate of alkalization ad salinization. Micro-irrigation
involves two type of techniques such as drip irrigation and sprinkle irrigation.
Drivers and Restraints:
Large-Scale Adoption of Land under Micro-Irrigation amid COVID-19
Threat to Drive the Market
With depleting water sources and increasing demand for good
quality crops, the growers are adding more area under micro-irrigation across
the globe. Factors such as easy mechanization and efficiency in growing wide
range of crops is the driving factor that is propelling the acceptance of the
technique by commercial property owners. This is expected to boost the market
during the forecast period. For instance, in turbulent times where every sector
is reeling downward owing to the global effects of novel coronavirus, COVID-19,
farmers in Tamil Nadu, India brought cheers to the agriculture sector. In the
just concluded financial year 2019-2020, Tamil Nadu topped the all-India level
for area under micro-irrigation. Under the Pradhan Mantri Krishi Sinchayee
Yojana (PMKSY), the state covered about 2, 06,853.25 Hectares of land during
the aforementioned financial year. Increasing adoption of land under this
technique owing to its several positive benefits for crops will contribute to
the growth of the market during the forecast period.
Competitive Landscape:
Merger and Acquisition by the Private Players to Promote Growth
According to the micro irrigation systems market report, there are
several companies striving to gain major market share and outshine their rivals
during the forecast period. Adoption of strategies such as expansion of
facilities, partnership, merger and acquisition, and collaboration by the key
players will drive the market growth in the forthcoming years. For instance, in
April 2017, Jain Irrigation Systems, an India-based irrigation solution
provider, announced its acquisition of two U.S. companies- Irrigation Design,
Construction Inc. (IDC), and Agri-Valley Irrigation Inc. (AVI). With an
investment of about USD 48 million, the company plans to acquire 805 stakes in
the two other companies. Moreover, government policies to promote micro
irrigation technique is expected to bode well for the market during the
forecast period.
Industrial Development:
- February
2020: Lindsay
Corporation, a pioneer in irrigation market, announced its launch of new
product, Zimmatic poly pipe. According to the company, the product is
favourable for farms wherein the water environment is most corrosive. This
launch is anticipated to boost the strategic position of the Company in
the marketplace.
List of the Companies Operating in the Market:
- Lindsay
Corporation (U.S.)
- Jain Irrigation
Systems Ltd. (India)
- Valmont
Industries (U.S.)
- Rain Bird
Corporation (U.S.)
- Reinke
Manufacturing Co. Inc. (U.S.)
- Netafim Limited
(Israel)
- The Toro Company
(U.S.)
- Hunter
Industries (U.S.)
- Nelson
Irrigation Corporation (U.S.)
- Rivulis
Irrigation Ltd. (Israel)
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