Micro irrigation is the most efficient way to provide water to plants, and is particularly desirable in water scarce mountain areas where water is valuable and efficient use is essential. The concept and technology was developed in Israel 20 years ago and has the potential to save up to 70 per cent of the water used in flood irrigation and increase yields by up to 50-60 per cent. Micro irrigation currently irrigates a little less than two million hectares worldwide, or less than one percent of the total global irrigated acreage and this may largely be due to its high investment cost.
Micro Irrigation Systems Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $8,321 million by 2022, registering a CAGR of 16.6% during the forecast period 2016 – 2022. Factors such as scarcity of water, need for crop yield enhancement, and encouragement by the government majorly drive the global market. Asia-Pacific is expected be the largest market for micro irrigation systems during the forecast period.
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Sprinkler irrigation constitute the highest market share due to easily automated & mechanized systems and ability to irrigate widespread areas. Nonetheless, drip irrigation system is estimated to portray the fastest growth owing to issues regarding droplet ballistics in sprinkler irrigation systems that results into higher water consumption.
The orchard crops sub-segment portrays the highest revenue contribution during the forecast period. However, plantation crops sub-segment is projected to depict the fastest growth owing to the growth in tea and cotton plantations.
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Small farming segment is projected to dominate the market during the forecast period. Moreover, it is also expected to depict the fastest growth in the market due to the recent developments and launch of easily understandable systems in the rural sector.
Construction & Manufacturing AMR. Asia-Pacific accounted for majority of the global market share in 2015, and is expected to maintain its dominance during the forecast period. This is due to massive irrigated areas and adoption of micro irrigation systems across hilly terrains.
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Agriculture Equipment Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $243.5 billion by 2022, registering a CAGR of 5.9% during the period 2016-2022.
Factors that foster the growth of the market are increased mechanization of agricultural activities, economic stability, and increasing demand for food owing to the growing population, particularly in the developing regions. In the year 2015, Asia-Pacific generated the highest revenue, accounting for around 40% share in the overall agriculture equipment market, followed by North America and Europe.
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Agriculture tractors, harvesters, soil preparation and cultivation equipment, irrigation & crop processing equipment, agriculture spraying equipment, hay and forage equipment are the major agriculture equipment considered in the study. Tractors constituted nearly one-third of the overall agriculture equipment market revenue in 2015, and are likely to remain the highest revenue contributors throughout the analysis period.
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Tractors are indispensable farm equipment, used for various activities, both as a standalone equipment and also with other implements. Harvesters is the second largest product category in terms of revenue generation. The market for harvesters is anticipated to grow with the highest CAGR of 6.9% during the forecast period.
Key findings of Agriculture Equipment Market:
- The global agriculture equipment market is expected to exhibit a notable growth during the forecast period owing to the rising demand for food and increasing mechanization in agriculture.
- In the year 2015, tractors accounted for around 34% share in the overall agriculture equipment market revenue.
- The harvester segment is expected to be the fastest growing segment during the forecast period.
- Asia-Pacific is estimated to witness significant growth, growing at a CAGR of 7.6% from 2016 to 2022.
- China is likely to register a higher growth with a CAGR of 8.5% over the analysis period.
- Deere & Company
- Mahindra Group
- AGCO Corporation
- Agrostroj Pelhrimov A.s
- Concern Tractor Plants
- Escorts Limited
- China National Machinery Industry Corporation
- Valmont Industries Incorporated.
- Weifang Euroking Machinery
- Same Deutz-Fahr Group (SDF)