Fior Markets launched a study titled “Global Micro Irrigation Systems Market byProduct (Sprinkler, Drip, Central Pivot, Lateral Move), Crop (Plantation Crops, Orchard Crops, Others), Application, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.”
The global micro irrigation systems market is expected to grow from USD 9,224.8 Million in 2017 to USD 32,823.5 Million by 2025 at a CAGR of 17.2% during the forecast period from 2018-2025. Better productivity from limited area and rapid growth in greenhouse vegetable productions are the two driving forces for the growth of the market.
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The drip segment valued around USD 3754.49 Million in 2017
The product segment is classified intosprinkler, drip, central pivot and lateral move. The drip segment is dominating the micro irrigation systems market with the highest share in 2017. Drip irrigation is widely used because it restores the nutrient lost, minimises leaching and growth of weed is reduced. Also, soil erosion is checked and cost of energy is also reduced since it operates in lower pressure.
The orchard crops segment held the largest market share 36.20% in 2017
Crop segment is divided into segments such as plantation crops, orchard crops, field crops, forage & turf grasses and others. The orchard crops segment is dominating the market in 2017. Rapid growth in the production of greenhouse vegetables is driving the application of microirrigation systems in orchard crops. Higher yield requirement from limited areas has also led to the growth in its application.
Agriculture segment valued around USD 3569.99 Million in 2017
Application segment includes agriculture, landscape, greenhouse, nursery and other. Agriculture segment is dominating the market with the highest share in 2017. Agriculture is one of the major occupation in various regions. Moreover, the emerging economies practice agriculture on a large scale, which consequently increases the adoption of micro irrigation systems in such regions.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region is dominating the market with the highest share of 39.60% due to growing supportive changes in the government infrastructure policy which is expected to drive the TLS market. Also, growth in the service sector is expected to drive the micro irrigation systems market.
The major players of market include Micro Irrigation Systems market are 3D Digital Corporation, Carl Zeiss Optotechnik, Creaform, FARO Technologies,Maptek, Trimble, RIEGL Laser Measurement Systems, Teledyne Technologies, Topcon, Hexagon, Spatial Integrated System,Zoller + Fröhlich.For instance, In May 2018, FARO Technologies made a strategic minority investment in present4D GmbH, which is a leading software Products provider for professional virtual reality (VR) presentation and training environments. This partnership will drive the adoption of virtual reality Products across a broad spectrum of business and industrial applications.
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