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Agricultural Pumps Market Size To Reach USD 7.6 Billion By 2028 With CAGR 7.9% | Reports And Data

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Agricultural Pumps Market Size To Reach USD 7.6 Billion By 2028 With CAGR 7.9% | Reports And Data

September 15
15:06 2021
Agricultural Pumps Market Size To Reach USD 7.6 Billion By 2028 With CAGR 7.9% | Reports And Data
Agricultural Pumps Market
Agricultural Pumps Market Size: USD 4.21 billion in 2020, industry Growth: CAGR of 7.9%, Market Trends: Substantial investment costs and unavailability of spare parts might obstruct the market growth.

The global agricultural pumps market is evaluated to augment from USD 4.21 billion in 2020 and reach 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.

Agricultural pumps are automated devices that transport material from one locality to another with appropriate set pressure. These are the most preferred pumps that the farmers are focusing on to maintain agricultural production. These are widely used to extract water from well, lakes, and reservoirs and also for crops that require excess water to grow. 

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The high costs associated with the smart pumps and uncertainty of the spare parts are the main factors that can impede the market growth of the agricultural pumps. Moreover, the unavailability of after-sale services is another restrictive factor altering the market expansion of these smart pumps.

The global industry has faced major losses due to the outburst of the coronavirus. Many industries have been shut down temporarily due to the rigid social distancing and lockdown rules. The workload has increased due to workforce limitations. Many manufactures are innovating new ideas to get things back on track. 

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)

For this study, Reports and Data has segmented the global agricultural pumps market based on Type, Power Source, End-use, Horsepower, and Region:

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)

  • 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. 
  • The Asia Pacific region led the market with the largest share in the agricultural pumps market in the year 2020 and is assessed to retain its market spot during the estimated time. The growing population and demand for various crop products have led to an increase in land purchases. The government is also initiating new ideas for enhancing the market growth in the APAC region. 

    Key insights presented in the report:

  • Market revenue shares by major business players, by type, application, and market scope of global Agricultural Pumps market
  • Sales revenue by key players and new entrants
  • Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
  • Recent mergers, acquisitions, product launches, recent investments, and joint ventures regional analysis to provide insight into recent trends and opportunities

    To know more about the report @ https://www.reportsanddata.com/report-detail/Agricultural Pumps-market

    Table of Content:

    Chapter 1. Methodology and Scope

    Chapter 2. Executive Summary

                 2.1. Market Outlook

                 2.2. Segmental Outlook

                 2.3. Competitive Insights

Chapter 3. Drip Irrigation Market Variables, Trends & Scope

3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping 

Chapter 4. Consumer Behavior Analysis

4.1. Consumer Trends and Preferences
…..

Chapter 11. Company Profiles

11.1. Grundfos (Denmark)

11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Benchmarking
11.1.4. Strategic Initiatives

11.2. Xylem Inc (US), KSB SE & Co. (Germany)

11.3. Flowserve Corporation
11.4. Lindsay Corporation (US)
11.5. Valmont Industries (US)
11.6. Kirloskar Brothers Limited (India)

Continued…

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About Reports and Data Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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