Agricoltura
Water Scarcity in Agriculture is Pushing Farmers towards the Adoption of Micro Irrigation Systems: Future Market Insights
According to a census conducted by the International Commission on Irrigation and Drainage, the acres of micro-irrigation have increased by 25 times over the past three decades.
Increasing adoption of micro irrigation systems in developing economies on the back of relatively low costs of purchase and installations is likely to create positive growth prospects in the assessment period.
Despite exhibiting steady growth in the last few years, the unprecedented novel coronavirus outbreak has affected the market drastically. The pandemic has disrupted the supply chain of raw materials and components amid implementation of lockdown. Nonetheless, favorable policies and financial incentives undertaken by the government are expected to energize the industry growth.
China is anticipated to lead the micro irrigation system market owing to its 118.9 thousand hectares of arable land, providing the largest area for the application of micro-irrigation. According to International Commission on Irrigation & Drainage (ICID), China is the number one ranking country in terms of micro-irrigation across the globe making it the most lucrative market for global growth.
Leading market players are primarily focusing on developing innovative products to expand their product portfolio and are engaging in strategic collaborations with regional players to strengthen their global footprint. For instance,
Leading players profiled by FMI operating in micro irrigation system market include:
The latest market study on global micro irrigation system market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of
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