Market Size of Micro-Irrigation Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 11.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Micro Irrigation System Market Analysis
The micro-irrigation systems market is projected to register a CAGR of 11.4% during the forecast period.
- Micro-irrigation technologies are among the most effective systems farmers use in many developed economies to reduce water wastage. For instance, a major company such as Netafim Ltd offers drip irrigation systems that can be embedded in pipes to simplify the installation process while creating sustainable agricultural production and improving the livelihood and economic position of millions of smallholder farmers.
- Automatic drip irrigation is essential for controlling soil moisture, especially for specialized greenhouse vegetables. Total automation of drip irrigation systems provides a simple, meticulous method for controlling soil moisture and applying water. Effective time management, elimination of human errors in terms of estimation, and adjustment of available soil moisture levels are some of the factors augmenting the demand for automatic drip irrigation systems.
- Many countries are focused on developing micro irrigation because of water scarcity and demand for water to improve agricultural productivity. For instance, the National Bank for Agriculture and Rural Development (NABARD) in India allocated USD 100 billion to develop micro-sprinkler irrigation. The government has set a target of covering 100 lakh hectares for micro-irrigation within the next five years.
- The government of Colorado declared a serious water crisis in the south basin of the Colorado River in 2022. Ms. Kyrsten Sinema, Colorado's agricultural minister, announced a USD 4 billion compensation to help alleviate the adverse effects of the drought on the Colorado River. These funds were granted for renovating the dams of the river, its infrastructural development, and adequate water usage using drip irrigation.
- Factors such as an increase in water scarcity and rapid growth in greenhouse vegetable production are expected to be major drivers of micro irrigation. Furthermore, these systems are expected to increase profits generated per yield.
