Global Micro Irrigation System Market Databank
The Micro Irrigation System market was valued at $9,762.3 Million in 2020, and is projected to reach $36,427.8 Million by 2029 growing at a CAGR of 15.82% from 2021 to 2029. Drip segment is expected to be the highest contributor to this market, with $4,234.3 Million in 2020, and is anticipated to reach $16,306.6 Million by 2029, registering a CAGR of 16.23%. Central Pivot segment is anticipated to reach $4,628.1 Million by 2029 with the highest CAGR of 16.55%. Drip and Sprinkler segments collectively expected to account for about 81.7% share of the Micro Irrigation System market in 2020, with the former constituting around 43.4% share. Central Pivot and Drip segments are expected to witness significant growth rates at a CAGR of 16.55% and 16.23% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 55.4% in the overall Micro Irrigation System market in 2020, and is anticipated to reach 57.5% by 2029.
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