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The Asia-Pacific Irrigation Machinery Market is Segmented by Type (Sprinkler, Drip, and Pivot) and Application (Crop and Non-crop)
Fastest Growing Market:
The Asia-Pacific irrigation machinery market is expected to register a CAGR of 6.2% during the forecast period, 2020-2025. Water scarcity, being the major concern in the current agricultural scenario, is the foremost factor driving the growth of this sector, followed by the awareness about micro-irrigation systems and the need for high productivity to meet the demand for food. In 2018, the drip irrigation system dominated the market, in terms of revenue, having accounted for aboout 75.5% of the industry. The area under drip irrigation has shown strong growth in productivity over the past few years.
The consolidation of farmlands in various parts of the world is making it possible for more farmers to invest in expensive irrigation machinery, which, in turn, is driving the market. New product launches, mergers and acquisitions, expansion of business units, and opening new manufacturing plants are the most important ventures being undertaken by the companies, to stay active in the market studied.
Irrigation machineries are used to supply water to the crops from a nearby source, by means of a certain channel. This report presents a deeper analysis of the industry's growth trends.
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Government organizations are promoting micro-irrigation systems in various countries, in order to encourage farmers to adopt advanced irrigation technologies, by providing various benefits or subsidies to farmers. The governments of the Asian countries are taking special measures to promote advanced irrigation systems in their countries. During the study period, CI-Agriculture, an Indonesian start-up has taken up the task of educating the farmers about the benefits of advanced irrigation systems which can improve yield and efficiency.
The Indian government approved initial aggregation of USD 702.3 million for setting up micro-irrigation Fund (MIF) in May 2018, along with the National Bank for Agriculture and Rural Development (NABARD). This fund is registered under the Pradhan Mantri Krishi Sinchayee Yojna (PMKSY), which was formulated on July 1, 2015. The primary objective of the scheme is to promote micro-irrigation technologies, primarily among consuming crops, like cotton and sugarcane.
Furthermore, it is focusing on expanding the coverage of field crops under micro-irrigation technologies. Moreover, the central government offered a 35% to 45% subsidy for drip irrigation systems. This is expected to strengthen the market.
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The irrigation machinery market is primarily driven by factors, such as the need for increasing crop productivity while addressing the issues of water scarcity. Thus, governments are focusing on formulating initiatives, to increase the usage of micro-irrigation systems, while limiting water shortage. The Indian Agricultural Research Institute (IARI) established the design of a micro-irrigation system (DOMIS), a web-based application system that helps in designing customized micro-irrigation systems for efficient water utilization, under several agro-climatic conditions. Furthermore, it is planning to develop devices that utilize low amounts of water, in order to help farms.
In India, owing to recurring droughts in 2012, 2015, and 2016, micro-irrigation systems gained immense popularity. Therefore, both central and state governments are promoting micro-irrigation systems, in order to tackle the water crisis which both the Drip as well as Sprinkler irrigation resolves.
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The market share analysis indicates that the market studied is consolidated, with major companies accounting for about majority of the market share. With the governments’ thrust on augmenting the penetration of water conservation and efficiency driven by the micro-irrigation system, the market is estimated to witness substantial growth in the near future. This is expected to benefit companies, such as Jain Irrigation Systems Limited, EPC Industries Ltd, and Netafim Ltd, among others.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Sprinkler Irrigation
188.8.131.52 Pumping Unit
184.108.40.206 Spray/Sprinklers Heads
220.127.116.11 Fittings and Accessories
5.1.2 Drip Irrigation
18.104.22.168 Backflow Preventers
22.214.171.124 Pressure Regulators
126.96.36.199 Other Drip Irrigation Techniques
5.1.3 Pivot Irrigation
188.8.131.52 Field Crop
184.108.40.206 Turf and Ornamental
220.127.116.11 Saudi Arabia
18.104.22.168 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Company Profiles
6.3.1 Jain Irrigation Systems Ltd (JISL)
6.3.2 EPC Industries Ltd
6.3.3 Netafim Ltd
6.3.4 Rivulis Irrigation Ltd
6.3.5 Harvel Agua India Private Limited
6.3.6 Kothari Agritech Private Limited
6.3.7 Valmont Industries
6.3.8 Deere & Company
6.3.9 Lindsay Corporation
6.3.10 Rain Bird Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS