APAC microirrigation system market share is anticipated to achieve lucrative growth in the coming years
Category: #Technology  By Sachin Pashte  Date: 2019-08-13
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APAC microirrigation system market share is anticipated to achieve lucrative growth in the coming years

APAC microirrigation system market will be valued over USD 3 billion by 2024. Favorable socio-economic conditions in China, India, and Australia has enhanced the product demand. For instance, China accounts for 10% agriculture land under the microirrigation system, thus regional market is expected to provide lucrative opportunity for manufactures. Rising awareness among the farmers about product application has further propelled industry growth.

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Microirrigation system market, in recent times, has been witnessing commendable growth, the reason of which can be aptly attributed to the numerous M&As and strategic alliances prevalent across this business sphere. Given the rising shortage of water sources across the globe, optimized deployment of water for myriad purposes, especially for agriculture, has been gaining prominence lately. In this regard, microirrigation methodologies such as drip and sprinkler irrigation have scored an edge over conventional irrigation mechanisms, prompting companies in other business spaces to join forces with microirrigation system market players. For instance, recently in September, Mexichem, SAB, a Mexico-based piping & chemical company, announced its decision of acquiring Netafim, LTD, the renowned Israel microirrigation system market giant, for a valuation of close to USD 1.5 billion.

Elaborating on the aforementioned, it is prudent to state that this deal has been projected to be mutually beneficial for both the conglomerates. Authentic sources claim that Mexichem will receive an 80% stake in Netafim, as per the agreement, while the founder of the company would be retaining the remaining 20% stake in the company, currently valued at USD 1.89 billion. Furthermore, Mexichem personally believes that the deal would catapult the company to a rather high stance in global microirrigation system market, while simultaneously enabling the firm to harness smart technology for water management, irrigation, and increased crop yield. In essence, as domain maximization stands to remain a prime goal for allied companies, their alliances with firms partaking in microirrigation system market share are likely to help them garner a significant percentage of the overall revenue of this business space, which would simultaneously help transform microirrigation system market trends. As per Global Market Insights, Inc., microirrigation system market size was pegged at a modest USD 5 billion in 2016, and is likely to expand further in the years ahead.

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Given the popularity of its working methodology, drip irrigation is expected to be widely deployed over the years ahead. The mechanism leads to a reduction in the population of pests and weeds, as the water is directed toward the root of the plant. Additionally, the methodology offers ease of installation, reduced soil erosion, improved fertilizer efficiency, and maximum usage of water, owing to which drip-based microirrigation system market is likely to garner substantial gains over 2017-2024. As per estimates in fact, microirrigation system market size from drip irrigation is slated to cross more than 45 million hectares by 2024, in terms of volume.

Global microirrigation system market share is fragmented in nature with the presence many local and international industry participants. Some of the prominent industry players are Rain Bird Corporation, Bhumi Polymers, Finolex Plasson, Ecoflo Irrigation, Lindsay Corporation, Automat Industries, Signet Group, Valmont Industries, Toro Company, Jain Irrigation, Netafim, EPC Industries. Government support by providing subsidies will further drive microirrigation system market.

Table Of Content For This Research Report:

Chapter 6. Microirrigation System Market, By End-Use

6.1. Global microirrigation system market share by end-use, 2016 & 2024

6.2. Farmers

6.2.1.   Market estimates and forecast, 2013 - 2024

6.2.2.   Market estimates and forecast, by region, 2013–2024

6.3. Industrial

6.3.1.   Market estimates and forecast, 2013 - 2024

6.3.2.   Market estimates and forecast, by region, 2013–2024

Browse complete Table of Contents (ToC) of this research report @

https://www.gminsights.com/toc/detail/microirrigation-systems-market

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About Author

Sachin Pashte    

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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