Micro & Mechanized Irrigation Systems Market Worth $33.4 Billion By 2025
The global micro & mechanized irrigation systems market is expected to reach USD 33.4 billion by 2025, according to a new study by Grand View Research, Inc. The low cost of micro and mechanized irrigation products is expected to fuel the market growth over the forecast period.
The cost-saving benefits associated with micro and mechanized irrigation systems, such as chemigation and fertigation, further contribute to the demand for these products, especially in emerging economies. These systems cater to the need for effective farming techniques and are subsequently gaining traction across the globe.
The increasing focus on sustainable agriculture techniques is accelerating the implementation of micro and mechanized irrigation systems such as drips and sprinklers. Furthermore, technological proliferation has enabled micro irrigation systems to be controlled through connected devices such as mobile phones and tablets.
These devices enable remote access, thereby providing mobility and fostering user convenience. Large arable lands make the implementation of these systems more economical and profitable. The demand for these systems is high in the agricultural segment, gardens, public parks, and sports turfs.
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Further key findings from the study suggest:
- The drip product segment dominated the overall market in 2015 and was valued at USD 2,878.3 million. Advantages such as cost effectiveness and low power requirements are significantly propelling the demand for drip irrigation products
- Sprinkler products contributed remarkably to the industry growth and accounted for USD 2,060.4 million in 2015. The ability of sprinklers to displace water at large distances is boosting the adoption of these products
- The agriculture application was estimated to be a key segment in 2015 and was valued at USD 3,346.6 million
- Greenhouse is anticipated to emerge as the fastest growing segment with a CAGR of over 13% from 2016 to 2025
- Orchard crops dominated the global crop segment and were valued at USD 2,873.6 million in 2015. These crops are widely grown in the Asia Pacific region and are exported in developed nations including North America and Europe
- The landscape application segment was valued at USD 1,149.8 million of the micro and mechanized irrigation systems market in 2015
- The key industry participants include Mahindra EPC Irrigation, Jain Irrigation Systems Ltd., Lindsay Corporation, Nelson Irrigation Corporation, Netafilm Limited, Rain Bird Corporation, Rivulis Irrigation, T-L Irrigation Co., The Toro Company, and Valmont Industries, Inc.