#MicroIrrigationSystemsMarket
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Depleting Water Resources to Accelerate Global Micro Irrigation Systems Market Growth
According to the estimations put forth by Inkwood Research, the Global Micro Irrigation Systems Market is predicted to grow with a CAGR of 8.75% in terms of revenue during the forecasting years of 2023-2032.
“Browse 51 Market Data Tables and 49 Figures spread over 255 Pages, along with an in-depth TOC on the Global Micro Irrigation Systems Market Forecast 2023-2032.”
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Micro irrigation entails the direct and frequent application of small water quantities below and above the soil’s surface. Also termed low-volume irrigation, the method effectively delivers water to plant roots. This irrigation type is necessary in order to ensure enhanced agricultural productivity, improve production, generate an increased farm income, and augment off-farm and on-farm employment. Moreover, micro irrigation systems are typically low- or medium-pressure systems, providing water in the form of spray, sprinkles, jet, drip, and mist.
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Diminishing Water Resources to Propel Market Growth
The surging issue of water scarcity considerably increases the scope of micro irrigation worldwide. As per the United Nations, nearly half of the world’s population resides in urban areas. The ever-growing urban development affects the ecosystems and decreases natural resources, thereby leading to short rainfall.
According to estimations, the global food demand is expected to grow by 50% by the end of 2030. However, the need for renewable energy sources, including hydropower energy, is anticipated to increase by 60%. Around 8 million individuals across the world die every year on account of drinking polluted water and the lack of water. In addition, approximately 70% of water sources are utilized for irrigation and agriculture, with only 10% used for domestic purposes. Therefore, declining water resources are set to fuel market growth.
Orchard Crops are the Fastest-Growing Crop Type
Orchard crops are international shrub or tree plantations producing food. They include fruits, vegetables, and nut-producing trees, cultivated for commercial food production. Moreover, micro-sprinklers, as well as low-pressure irrigation systems, witness a high adoption rate for high-value crops, such as tree fruits, primarily across Coloradan orchards. Micro-sprinkler irrigation systems are increasingly being deployed for irrigating irregularly shaped and sloping orchard blocks that cannot be irrigated by furrow or flood irrigation. Conversely, water-soluble fertilizers are utilized in micro irrigation systems in order to irrigate orchard crops.
Asia-Pacific to Lead the Global Market by 2032
The growing trend of small-scale agricultural facilities across the rural regions in Asia-Pacific is anticipated to play a crucial role in fueling the demand for micro irrigation products, such as drip irrigation and sprinklers. Moreover, government initiatives toward 100% foreign investments, especially across India’s agricultural sector for vegetable cultivation, plantation, horticulture, and seeds, are expected to stimulate the implementation of micro irrigation systems across the region.
The global market harbors numerous competitors. In addition, several companies, as well as domestic players, provide micro irrigation systems. As a result, the market rivalry is expected to remain high.
Some of the leading firms operating in the market are Valmont Industries, Rivulis Irrigation, Netafim Ltd, Mahindra EPC Irrigation Limited, etc.
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Afterhours Press Releases. Micro Irrigation Systems Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $8,321 million by 2022, registering a CAGR of 16.6% during the forec...
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