Top 3 Findings in Micro Irrigation Systems Market
Published By : 18 May 2016 | Published By : QYRESEARCH
The growing requirement for increasing the crop yield by utilizing minimal water and the increasing shortage of water globally are amongst the prime factors fuelling the market for micro irrigation systems. In addition, the increasing backing from governments in various nations for micro irrigation systems will also stimulate the growth of the market in the coming years.
Major findings in the market are as follows:
- Sprinkler Irrigation Systems to Lead till 2023: The market has been segmented on the basis of product type into sprinkler irrigation systems and drip irrigation systems. The segment of sprinkler is further segmented into center pivot sprinklers, traditional sprinklers, and lateral move sprinklers. Amongst these, the segment of sprinklers held the largest share in the market in 2014 and held a share of 83%. This is owing to the rising adoption of micro irrigation systems in maintaining turf grass, fields, and landscaping. This is why this segment is predicted to exhibit a 14.50% CAGR from 2015 to 2023.
- Europe held Largest Share in 2014: Geographically, the Europe micro irrigation system market led the market in 2014 and held a share of 32% in the market on the basis of revenue. The reason for the dominance of this region is the rising requirement for micro irrigation systems for the development of sports grounds, stadiums, and public parks within numerous nations in Europe particularly in Spain, the UK, Germany, France, and Italy.
- Asia Pacific to Rise Exponentially in Forthcoming Years: The market in Asia Pacific is predicted to expand rapidly in the coming years due to the increasing favorable initiatives taken by the government for the adoption of micro irrigation systems. Australia, Japan, India, China, and South Korea are predicted to by the prime markets for the development of this market.
The prime players dominant in the market for micro irrigation systems are Eurodrip SA, Rain Bird Corporation, Hunter Industries, Inc., Lindsay Corporation, Rivulis Plastro Ltd., Sistema Azud SA, T-L Irrigation Company, Elgo Irrigation Ltd., Jain Irrigation Systems Ltd., Reinke Manufacturing Company, Inc., Valmont Industries, Inc., and The Toro Company Netafim Ltd., among others.