Northbrook, IL -- (SBWIRE) -- 01/11/2022 -- The global microirrigation systems market size is estimated to be valued at USD 9.7 billion in 2021 and is expected to reach a value of USD 15.1 billion by 2026, growing at a CAGR of 9.3% in terms of value during the forecast period. Factors such as higher yield requirement from a limited area, rapid growth in greenhouse vegetable production, and rise in usage of artificial intelligence in microirrigtaion systems are some of the factors driving the growth of the microirrigation systems market.

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Driver: Efficient usage of water resources in drought conditions

Protection of agricultural fields against drought has become a possibility with the use of advanced irrigation systems. Appropriate irrigation scheduling techniques have given various success among farmers. Irrigation scheduling by advanced technology is gaining importance and many farmers are increasingly applying these techniques successfully. Through microirrigation, farmers manage to sustain the same production levels even in a drought year, as minimal usage of water resources also ensure high yield with the use of such systems. This a key factor contributing to the growth of the microirrigation systems market in tropical countries where droughts occur frequently. Growth in the organic food industry.

Restraint: High initial investment

Generally, microirrigation systems are best suited for cost-intensive agriculture, such as orchards, nurseries, greenhouses, and vineyards, where conventional irrigation methods may not be practical. Initial investment costs for installing microirrigation are high, and hence, are less suitable for low-value crops, considering that returns on investments may be low. The drawback of microirrigation is the set-up cost of purchasing tubing, emitters, and pumps, particularly for large-scale operations. The cost of microirrigation varies by crop, region, soil & water conditions, grade of pipelines, filtration equipment, fertigation equipment, and the degree of automation desired.

Opportunity: Sustainable agricultural practices of companies

In the last few years, several global food companies have adopted measures to market their products as sustainably produced. This is a differentiating factor in the end products, which has proved to be profitable for companies and has enhanced their market share. Microirrigation systems are one of the means by which these companies can ensure that their raw materials are produced in a sustainable manner. Microirrigation systems reduce the quantity of water consumed by crops, which limits environmental degradation and water table depletion. This is an opportunity for the microirrigation systems market as these agricultural and food companies operate on large scales, either through their own farms or through contract farming with small farmers. In case of contract farming, these companies provide equipment, such as drips and sprinklers, to resource-poor farmers that are essential for the production of crops with desired characteristics.

Challenges: Lack of timely reimbursement for subsidies

In the agrarian countries of Asia, governments allocate a large amount of money for the technological development of agriculture in the form of increased usage of machinery and equipment. In the case of microirrigation systems, the components are sold at subsidized prices to small and medium farmers. Most microirrigation system components are sold at subsidized prices in order to encourage farmers to improve their yield from limited land areas in addition to maximize their profits. Multinational companies operating in a large number of countries need to deal with subsidy policies in these regions, which makes it challenging to sustain day-to-day operations smoothly. A major challenge for market players is to recover the amount of revenue reduced due to those subsidized prices of drip or micro sprinklers. There is often a delay in receiving the reimbursement from the government.

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Key players in this market include Jain Irrigation Systems Limited (India), Netafim Limited (Israel), The Toro Company (US), Lindsay Corporation (US), EPC Industries (India), Nelson Irrigation Corporation (US), Rain Bird Corporation (US), T-L Irrigation (US), Hunter Industries (US), Rivulis Irrigation Ltd (Israel), Chinadrip Irrigation Equipment Co., Ltd. (China), Elgo Irrigation (Israel), Antelco Pty Ltd (Australia), Microjet Irrigation Systems (South Africa), Irritec (US), Metro Irrigation (India), Irritec S.p.A. (Italy), Irrigation Direct Canada (Canada), Drip Research Technology Solutions (Turkey), DripWorks Inc. (US), and Raindrip, Inc. (US).

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