Upcoming Growth Trends in the Agricultural Pump Market
The agricultural pumps market refers to the industry that manufactures and supplies various types of pumps specifically designed for agricultural applications. These pumps play a crucial role in the agricultural sector by facilitating the efficient transfer of water for irrigation, drainage, and other essential processes on farms. Agricultural pumps are essential for ensuring proper crop growth and maximizing agricultural productivity.
The global agricultural pumps market size is estimated to grow from USD 4.2 billion in 2020 and is projected to reach USD 6.1 billion by 2025, at a CAGR of 7.6% during the forecast. The increasing adoption of modern techniques of irrigation in developing countries, the advent of big data in agricultural farms, and the increase in government support toward the adoption of modern agricultural equipment are some of the factors driving the growth of the market.
Key points and aspects related to the agricultural pumps market include:
Types of Agricultural Pumps: There are various types of agricultural pumps designed to suit different needs and conditions, including centrifugal pumps, submersible pumps, jet pumps, and diaphragm pumps. The choice of pump depends on factors such as the water source, required flow rate, and pressure.
Irrigation: The majority of agricultural pumps are used for irrigation purposes. They help transport water from sources such as wells, rivers, or reservoirs to fields, ensuring a consistent supply of water to crops.
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Types of Irrigation: Agricultural pumps are used in different irrigation methods, including drip irrigation, sprinkler irrigation, and flood irrigation. Each method requires specific pumps to efficiently deliver water.
Efficiency: Modern agricultural pumps are designed to be energy-efficient and environmentally friendly. Farmers often seek pumps that can provide high performance while minimizing energy consumption.
Water Management: Proper water management is essential in agriculture. Agricultural pumps play a vital role in drainage systems, helping to remove excess water from fields, preventing waterlogging, and protecting crops from water-related issues.
Asia Pacific accounted for the largest share in the global agricultural pump industry due to the increasing land being brought under irrigation. The agricultural ministries of countries such as China and India are providing subsidies for solar and electric pumps, which is also one of the factors that are driving the growth of the market.
The markets for agricultural pumps in the range of 4 hp-15 hp, by power source, is estimated to account for the largest share of the agricultural pumps market in 2020
The agricultural sector makes use of pumps varying in the range based on the depth of area from which the water has to be sourced or the distance from water sources, such as reservoirs, rivers, lakes, and dams. The most used type of agricultural pumps is in the range of 4hp -15hp due to its widespread application in irrigation activities of small and medium-sized landholdings. Since, in the agricultural sector, most of the available land is fragmented, it is convenient and cost-effective to make use of pumps of this range.
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Key participants in the global market include Grundfos (Denmark), Xylem Inc (US), KSB SE & Co. (Germany), Flowserve Corporation (US), Lindsay Corporation (US), Valmont Industries (US), and Jain Irrigation Systems (India). These companies are focused on strategies such as acquisitions and new product launches to cater to the growing demand for intelligent pump systems in the agricultural sector. The market for agricultural pumps for the study has been segmented by type, end-use, hp, and power source.
