The global Agricultural
Pumps Market is evaluated to augment from USD 4.21
billion in 2020 and reac
h USD 7.6 billion by 2028, at a CAGR of 7.9% during the
estimated time. The gradual shift from traditional farming techniques to
advanced methods is flourishing the agricultural pumps market demand. Agricultural
pumps are becoming an essential aspect of the farming industry. The several
advantages of the smart pumps, such as low maintenance, high probability for
automated and remote control, and minimum time consumption, are the factors
driving the market demand.
The
report discusses in detail the strategic alliances such as mergers and
acquisitions, joint ventures, collaborations, partnerships, corporate and
government deals, product launches and brand promotions, and licensing
agreements undertaken by the key players to gain a robust footing in the market.
The Agricultural Pumps market research report also offers a thorough SWOT
analysis and Porter’s Five Forces analysis to offer key insights into the
company’s progress and position.
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Key Players:
The major key players
in the market are Xylem Inc (US), Flowserve Corporation (US), KSB SE & Co.
(Germany), Grundfos (Denmark), Lindsay Corporation (US), Valmont Industries
(US), Kirloskar Brothers Limited (India), Shimge Pump Industry Group Co., Ltd
(China) and Jain Irrigation Systems (India)
Further key findings:
- The rotodynamic pumps are predicted
to occupy the highest market share during the projected time based on the
type. These pumps have gained popularity during recent years, and the
increased utility has augmented the growth of the agricultural pumps
market.
- The positive displacement pumps
section is expected to witness the fastest growth due to the high
efficiency of these pumps during the analysis period from 2021 to
2028.
- On the basis of power source, the
solar pumps section is approximated to occupy a considerable share in the
global agricultural pumps market. These pumps make use of photovoltaic
cells. The demand for solar pumps is rising in many countries with power
shortage problems. Many farmers have obtained solar pumps at affordable
prices.
- In context to the end-use section,
the irrigation segment dominated the market in 2020 and is expected to
continue its dominance from 2021 to 2028. Most of the available land is
utilized for irrigation. The increasing population and cumulative
requirement for agricultural-based products has surged demand for this
segment.
- The 4-15 hp segment predicts a
significant growth throughout the prediction period due to the high
resistance to voltage fluctuations based on horsepower outlook. The
implementation of small and medium-sized proportions for extracting water
from reservoirs and lakes is expected to gain traction for this
segment.
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Market
Segmentation:
Based On Type: (Revenue, USD billion,
2021 - 2028)
Rotodynamic pumps
- Axial flow
- Mixed flow
- Centrifugal pumps
Positive displacement
pumps
- Reciprocating pumps
- Rotary pumps
Based On Power Source:
(Revenue, USD billion, 2021 - 2028)
- Solar
- Diesel/Petrol
- Electricity grid-connection
Based On
End-use: (Revenue, USD billion, 2021 - 2028)
- Irrigation
- Livestock watering
- Agricultural machinery
- Others
Based On
HP: (Revenue, USD billion, 2021 - 2028)
- 5-3
- 4-15
- 16-30
- 31-40
- >40
Based On Region:
(Revenue, USD billion, 2021 - 2028)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
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Identifying the basic business
drivers, challenges, and tactics adopted:
·
The report
provides intrinsic details and fluctuating aspects that influence the
commercial dynamics of the Agricultural Pumps market along with integral
factors of the rise in the demand for the product have been mapped across vital
geographical regions.
·
An overview of
the multifarious applications, business areas and the latest trends observed in
the industry has been laid out by this study.
·
Various
challenges overlooking the business and the numerous strategies employed by the
industry players for successful marketing of the product have also been
illustrated.
·
The research
inspects the sales channels (indirect, direct, marketing) that companies have
chosen for the primary product distributors and the superior clientele of the
market.
Thank
you for reading this article. You can also get chapter-wise sections or
region-wise report coverage for North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa.
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