In a recent published report, Kenneth Research has updated the market report for Micro Irrigation Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Micro Irrigation Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Global Micro Irrigation Market Insights, Opportunity Analysis, Market Shares and Forecast 2018-2028. Micro irrigation is the slow application of water on, above, or below the soil by surface drip, subsurface drip, bubbler, and micro-sprinkler systems. Where labor is scarce and expensive or where medium to large areas need to be irrigated precisely and frequently with minimum wastage of time and water, it is better to invest in micro irrigation systems. Micro irrigation systems are gaining significance because they help in protecting against drought situations and its ability to irrigate all the crops in the field even in the irregular terrain.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Some of the factors that are driving the market are the ability of the micro irrigation system to utilize the water to the maximum level as water is applied locally and leaching is reduced, fertilizer/nutrient loss is minimized, also this system helps in the weed control as no water is available for the weeds and their growth is kept under control. This kind of irrigation system is beneficial for the soil since it prevents soil erosion and along with that soil infiltration capacity is also increased, all these factors improves the seed germination rate which in turn improves the overall crop production.
Although there are many drivers that are driving the market but still exists some challenges that act as market restraint such as high initial cost needed to set up the whole system it may also cause clogging if water is not purified properly and detection of problem becomes even more difficult in larger farms.
The market was earlier dominated by North America. Now Asia-Pacific is projected to be the fastest-growing market. The growth in this market is however slow, but the market is expected to be a good business opportunity in the days to come.
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Companies profile include
1. Jain Irrigation system limited (JISL).
2. Toro company
3. Netafim.
4. Naugra Export
5. Tirupati structurals limited
6. Harso steels pvt. Lyd.
7. Apollo pipes limited
8. Kisan Group of companies
9. Captain polyplast ltd.
10. Rivulis Irrigation
11. IWT
12. Paras drip Irrigation
13. KSNM Marketing
14. Sharan Polyplast
15. Lindsay corporation
16. Nelson irrigation corporation
17. Valmont industries
18. Rain Bird corporation
19. T-L irrigation
20. Chaitra irrigation
21. Sree vijetha irrigation pvt. Ltd.
22. Mahindra
23. Driptech
24. Finolex Plasson industries
25. EPC
26. Primium irrigation
27. Irritol systems
28. Rooted in hope
29. Dayu conserving water
30. Linyi Dogli plastics
This Research Report covers
1. Historical data
2.Revenue forecasts, growth rates and CAGR up to 2028
3.Industry Analysis
4.Competitive Analysis
5. Key geographic growth data
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