The global microirrigation market has been estimated at USD 5.6 billion in 2014. The market is expected to register a CAGR of 9.5% during the forecast period, 2018 to 2023. Sprinkler irrigation system accounts for 50% share of the global microirrigation market.
Growth in Drip Irrigation
Drip irrigation is showing a stronger growth at a CAGR of 11.2% during 20182023. It increases the water use efficiency by 80%90%. Drip irrigation results in lower water consumption, because of reduced leaching fraction. The two major player in drip irrigation systems are Jain Irrigations Systems Ltd, and Netafim.
Rapid Growth in Greenhouse Vegetable Production
Micro irrigation can improve the productivity of vegetables through greenhouse system is by 70%. This is owing to the fact that the microirrigation entails the slow and regular application of low pressure water directly to the root zone of the crops. Along with water, fertilizer losses are also minimized and fertilizer cost are thus reduced and farmers can irrigate more crops area per unit of water used. The labor requirement for weeding, fertilizer, and irrigation are less as compared to other irrigation system.
Industry Trends
In 2017, Jain Irrigation Systems Ltd acquired Australian agritech firm, Observant Pty Ltd. This acquisition will help in strengthening the company's base, and also bring up new product portfolio in microirrigation systems and enhance its presence in Australia New Zealand.
In 2017, The Toro Company had launched new highquality micro distribution tubing. The new product serves a broader variety of the most demanding nursery and agricultural applications, especially for water and fertilizer distribution solutions.
In 2014, The Toro Company introduced the pressurecompensating sprinkler, which was specifically designed for the nursery application.
In 2014, Jain Irrigation Systems Ltd launched integrated solarpowered microirrigation systems for small farmers, which would ensure reliability of water supply and power supply.
Major Key Players are Jain Irrigation Systems, Netafim, Rivulis, EPC Industries, Deere Company, and Harvel
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