The Microirrigation systems market was valued at USD 2.53 Billion in 2015; this market is projected to grow at a CAGR of 18.3% from 2016 to 2021, to reach 6.81 Billion by 2021.
The Microirrigation Systems Market has been segmented on the basis of on the basis of crop type and mode of application. It has been further segmented on the basis of region into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The main objectives of the report are to define, segment, and project the market size of the microirrigation systems with respect to the above-mentioned segmentations and provide a detailed study of key factors influencing the growth of the market, along with profiling the key players in the market and their core competencies.
The microirrigation systems market is projected to grow at a CAGR of 18.3% from 2016 to 2021, to reach a projected value of USD 6.81 Billion by 2021. Microirrigation systems are gaining significance because they help in protection against drought situations; these systems being a low cost irrigation technique. On the other hand, increasing water scarcity and demand, and improvement in crop yield and quality are also some other factors that are driving the growth of the market.
Target Audience
The stakeholders for the report include:
-Agricultural producers
-Distributors of microirrigation systems
-Microirrigation system manufacturers
-Regulatory authorities
Amongst the types of microirrigation systems such as drip and microsprinkler, drip irrigation systems accounted for the largest market share in 2015. Drip irrigation is widely used because, with its application, nutrient loss is reduced, leaching is minimized, growth of weed is reduced, soil erosion is checked and cost of energy is also reduced since it operates in lower pressure. Among the end users such as farmers, corporates and others, corporates accounted for the highest share in 2015, whereas the farmer end user segment is growing with a highest CAGR due to the increased awareness of the advantages of microirrigation for agricultural use.
North America accounted for the largest market share for microirrigation systems, Mexico being the fastest growing in the region, from 2016 to 2021. On the other hand, Asia-Pacific is projected to be the fastest-growing market for the period considered for this study, due to the growing demand for water and increasing water scarcity.
