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Global Agricultural Irrigation System Market to Record an Impressive Growth of USD 9.18 Billion by 2027 : Fior Markets

Agricultural Irrigation System Market by Type (Sprinkler Irrigation, Drip Irrigation), Crop Type (Plantation Crops, Field Crops, Orchard Crops), Application, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027

/EIN News/ -- Newark, NJ, May 16, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The Global Agricultural Irrigation System Market is expected to grow from USD 4.73 Billion in 2019 to USD 9.18 Billion by 2027, at a CAGR of 8.64% during the forecast period 2020-2027. Agriculture is one of the major economic sectors in developed and emerging countries. Agricultural sector is considered as one of the major pillar which contributes towards the economic and social development in any country. Globally, agriculture is the largest user of water. Agricultural industry uses near about 60% of the available water resources.

Moreover, optimum water usage in agriculture is crucial for plant growth and efficient cultivation as too much water can cause soil erosion that result in minimal output. Irrigation systems are mainly of four types; surface irrigation systems, sprinkler irrigation systems, micro irrigation systems and subsurface irrigation systems. Crops need different amounts of water at different stages of their growth cycle. Furthermore, local climatic and soil conditions influence the availability of water to crops. Effective monitoring of the soil texture and content also plays an important role for proper and effective irrigation. Soil monitoring provides an assessment of the crop’s water needs and requirements which in turn aids in identifying the different irrigation systems to be used in agriculture.

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Rapidly growing demand for food and rising water scarcity across the world are the factors driving this market. The change in demographics due to rapid urbanization coupled with industrialization has resulted in un-maintainable economic practices followed by over utilization along with the degradation and depletion of natural resources. In the present scenario, water scarcity is one of the key issues that the world is facing. For instance, the Aral Sea shrinkage was an immense environmental devastation and this happened because of the construction of irrigation projects. However high investment costs is the main restraint for this market.

The market has been segmented on the basic of Type, Crop Type, application and region. The type segment is classified into surface irrigation systems, sprinkler irrigation systems, Microirrigation systems, and subsurface irrigation systems. Sprinkler Irrigation held the largest market share 67.20% in 2019 and expected to register the highest CAGR of 8.74% in the forecast period. The crop type segment covers plantation crops, field crops, orchard crops and others. Orchard Crops segment is playing a chief role in shaping business growth and was valued around USD 1.68 Billion and having a market share of 35.49% in 2019. The application segment is divided into small farming, large and corporate farming, government and others. Large And Corporate Farming segment is playing a chief role in shaping business growth and was valued around USD 1.55 Billion in 2019 having the market share of 32.71%. The market has been divided into North America, Europe, China, Japan, Rest of APAC, Latin America, and RoW. APAC held the largest market share of 49.12% and valued at USD 2.33 Billion in 2018.

The market for global agricultural irrigation systems market is segmented into key players. Major Player includes Netafim Ltd., The Toro Company, Rivulis Plastro Ltd., Sistema Azud SA, Lindsay Corporation, T-L Irrigation Company, Valmont Industries Inc., Reinke Manufacturing Company Inc., Elgo Irrigation Ltd., Eurodrip SA, Hunter Industries Inc., Rain Bird Corporation, and Jain Irrigation Systems, and Nelson Irrigation among others. Netafim Ltd. held the largest market share of 30.28% in 2019.

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About the report:

The global Agricultural Irrigation System market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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