Micro Irrigation Market Set to Multifold by 2030: Market Report Focused on Emerging Trends and Technology with Forecasts till 2030 – by RationalStat
Rationalstat LLC
8 min read
Rationalstat LLC
The global micro irrigation market is expected to reach US$ 19 billion by 2030, with an annual growth rate of more than 11.4%
Wilmington, Delaware, Oct. 17, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Micro Irrigation Market value is estimated at US$ 8.9 billion in 2023 and is expected to rise at a strong CAGR of over 11.4% over the forecast period of 2023-2030
Market Definition, Market Scope, and Report Overview
Micro irrigation, also known as drip irrigation or trickle irrigation, is a method of water delivery to the base of plants that is slow, precise, and controlled. This approach employs a network of pipes, tubing, valves, and emitters to supply water directly to the root zone of plants, reducing water waste and optimizing water resource utilization.
Many governments throughout the world provide subsidies and incentives to encourage the use of water-saving technologies such as micro irrigation. These financial incentives encourage farmers and agricultural businesses to invest in micro irrigation systems, which drives market expansion.
According to a deep-dive market assessment by RationalStat, the global Micro Irrigation market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
Market intelligence for the global Micro Irrigation market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global Micro Irrigation market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
GlobalMicro Irrigation Market: Segmental and Market Share Analysis
Based on type, micro irrigation system segment is augmented to dominate the global micro irrigation market due to its high demand to increase crop production while manage water scarcity issues.
Leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global micro irrigation market include,
In April 2023, Rain Bird Corporation and Flume collaborate to develop Next Gen water management and data solutions.
In March 2023, Netafim opened its first manufacturing plant in North Africa to support precision irrigation in Morocco and promote food security.
Some of the prominent players and suppliers operating and contributing significantly to the global micro irrigation market growth include Jain Irrigation Systems Limited, Netafim Limited, Lindsay Corporation, The Toro Company, Deere & Company, Rivulis Irrigation Limited, EPC Industrie, Nelson Irrigation Corporation, Rain Bird Corporation, and Elgo Irrigation Ltd,among others.
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client.
Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
Evaluating and analyzing the data by referring to data sources utilized and leveraged.
Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
