North America micro-irrigation system market is likely to reach USD 3.5 billion by 2024. Growing awareness among the farmers about benefits of using the product has resulted in increased industry demand. Countries including the U.S., Mexico and Canada are prominent users of the product for achieving better quality and higher yield crops for export markets which has driven the regional growth.
Rising concern for depleting water resources will drive micro-irrigation system market. As per United Nations report, water availability is projected to decrease in various regions with global agriculture water consumption estimated to increase by over 19% by 2050.
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Increasing necessity to reduce labor cost and improve efficiency will drive product penetration. Changing demographics led to population migration from villages to cities, which resulted in low workforce for agricultural sector. Thus, resource scarcity and rising labor cost will propel Micro-Irrigation System Market.
High maintenance & equipment cost, and initial investment of micro-irrigation system may hinder industry growth. However, increase in government support through subsidies is likely to reduce the impact of above restraints.
Sprinkler in Micro-Irrigation System Market was valued over USD 3 billion in 2016. Increased yield at affordable price, water usage efficiency, and improved cultivation in barren land are key factors driving industry growth. Rising environmental pollution concern and improved soil fertility & crop quality are other factors enhancing product scope.
Orchard crops & vineyards will foresee gains over 10% up to 2024. Rise in awareness among farmers about product benefits is projected to drive industry demand. Proper water application maintains the desired soil moisture in the root zone, thus results in optimum development of row crops, vineyards and tree orchards.
Micro-Irrigation System Market in Farmers end-use segment accounted more than 75% market share in 2016. High crop productivity, improving crop quality and reducing water wastage are the key driving factors stimulating product demand. Large corporate & private farms are probable end-users of the industry.
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Global Micro-Irrigation System Industry share is fragmented in nature with the presence many local and international industry participants. Some of the prominent industry players are Rain Bird Corporation, Bhumi Polymers, Finolex Plasson, Ecoflo Irrigation, Lindsay Corporation, Automat Industries, Signet Group, Valmont Industries, Toro Company, Jain Irrigation, Netafim, EPC Industries. Government support by providing subsidies will further drive Micro-Irrigation System Market.
Major Key Points from Table of Content:
Chapter 5. Micro-Irrigation System Market, By Application
5.1. Global Micro-Irrigation System Industry share by application, 2016 & 2024
5.2. Orchard crops & vineyards
5.2.1. Market estimates and forecast, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3. Plantation crops
5.3.1. Market estimates and forecast, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4. Field crops
5.4.1. Market estimates and forecast, 2013 – 2024
5.4.2. Market estimates and forecast, by region, 2013-2024
5.5. Others (Forage & turf grasses)
5.5.1. Market estimates and forecast, 2013 – 2024
5.5.2. Market estimates and forecast, by region, 2013-2024
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