Agricultural Micro Irrigation Systems Market Gaining High Popularity
Published On : Jul 28, 2014
Water resources are rapidly diminishing in our surroundings, hence creating an urgent need for water conservation. The use of drip irrigation is the solution to water conservation. Drip irrigations or micro irrigation systems result in high-quality crop yields in terms of quality and volume. It is the most effective method of irrigation in agriculture as it ensures definite amount of water dispersal, as well as maintenance of soil quality. With the help of this system, water is straight delivered to the plant root ensuing in optimum water use. The efficiency of these systems ranges between 90%-95%.
The essential need of using high-end sophisticated methods to reduce resource costs has led to the advent and adoption of micro irrigation techniques for plantations, cultivation, and agriculture. The application of micro irrigation systems in agriculture prove to be extremely cost-effective as they reduce the overall investment in resources and also ensue to be the primary dominant revenue generator for manufacturers in the agricultural field. As of 2013, the application of micro irrigation systems market covers around 59% shares, and is anticipated to grow at a CAGR of 18.1% in the forecast period 2012 to 2018.
The global micro irrigation systems market is categorized into four major sections – drip irrigation system, sprinkler irrigation system, lateral move irrigation system, and center-pivot irrigation system. Such types of sprinkler irrigation systems are currently gaining popularity in the global market.
Of the four categories, the lateral move irrigation and center-pivot irrigation are types of irrigation systems that are class-apart from the rest of the kinds. Currently, the center-pivot irrigation systems market holds a small revenue share, but the segment is predicted to double its revenue contribution by 2018. In contrast, the sprinkler irrigation system market is expected to maintain its position of being the largest segment in the global market. It will account for about 47% revenue share in 2018 of the overall micro irrigation systems market.
The global micro irrigation systems market has experienced an unprecedented growth rate over the last five years. This market is highly fueled by the rising concerns on water scarcity, as well as yield and resource optimization.
Micro Irrigation Systems – Split by Geography
The market is segmented and revenues are estimated focusing on the major geographical regions such as, Europe, North America, Asia-Pacific, and Rest of the World (ROW). However, the growth is particularly noticed in North America and Asia Pacific regions.
North America has the most enormous area under cultivation and agriculture, and thus is regarded as the commanding market for micro irrigation systems in the present times. This region is considered as the cradle of all the inventions and technological advancements for micro irrigation systems. North America is also high in demand for micro irrigation systems because of the increasing awareness pertaining to water shortage and other water management techniques. Such reasons have created massive requirement for these systems in this region.
The next upcoming market is the Asia-Pacific region, expected to grow at the highest CAGR during the forecast period. Presence of high growth opportunities in countries like India and China has made Asia-Pacific responsible for such a rapid growth. Also, high prevalence of the micro irrigation systems in advanced countries such as Australia has boosted the global micro irrigation systems market.
Advantages of Micro Irrigation Systems
The objectives of incorporating micro irrigation systems with different applications in the field of agriculture have been met with great success. However, there are some additional advantages that mark the significance and usage of these systems in more spectacular ways. They are given below:
- Micro irrigation systems help in better crop quality and higher yield production
- Saves labor cost
- Saves water up to 70%
- Crop yields up to 230% production
- The systems are ideal for harsh terrains (soil & water problems)
Studies conducted by leading market firms state the global micro irrigation systems market is expected to reach USD 4.8 billion by 2018 pacing at a CAGR of 18.0% in the forecast period 2012 to 2018. Due to better efficiency and ease of use, the micro irrigation systems will be the fastest growing market segment globally. It will grow at a CAGR of 19.3% from 2012 to 2018.