Press Release

Agriculture Pumps Market to Grow with a CAGR of 7.04% through 2028

Advancements in remote control & automation of pumps and technological advancements in pump manufacturing is expected to drive the Global Agriculture Pumps Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “Agriculture Pumps Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Agriculture Pumps Market stood at USD 4.87 Billion in 2022 and is anticipated to grow with a CAGR of 7.04% in the forecast period, 2024-2028. The Global Agriculture Pumps Market is influenced by several drivers. Technological advancements in pump manufacturing techniques, focusing on efficiency and reliability, are contributing to the market growth. The increasing adoption of modern farming practices and the global shift towards mechanization in agriculture also drive this market.

Furthermore, the need for water management in agriculture, exacerbated by unpredictable weather patterns due to climate change, is spurring the demand for these pumps. Also, government subsidies and initiatives to promote sustainable farming are playing a significant role in boosting this market.

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Agriculture Pumps Market.”

 

The global agriculture pumps market is experiencing significant growth, primarily fueled by the increasing mechanization in the agriculture sector and the rising demand for food products due to population growth. This market encompasses a wide range of pump types, including centrifugal, rotary, and submersible pumps, which are specifically designed to meet various agricultural needs such as irrigation, livestock watering, and drainage.

With the advent of technological advancements, such as smart irrigation systems and precision agriculture, farmers are now able to optimize water usage and maximize crop yield. These advancements, coupled with government initiatives supporting agricultural growth and increasing awareness about efficient water use, are expected to further propel the agriculture pumps market in the future. As the world continues to face challenges related to food security and sustainable agriculture, the importance of efficient and reliable pumping solutions becomes even more prominent.

In addition, the agriculture pumps market is witnessing a growing trend towards the use of renewable energy sources, such as solar power, to drive these pumps. By harnessing the power of the sun, solar-powered pumps not only reduce dependence on conventional energy sources but also contribute to environmental sustainability by minimizing carbon emissions. This shift towards renewable energy aligns with the global focus on reducing carbon emissions and mitigating climate change, ensuring a greener and more sustainable future for agriculture.

Overall, the agriculture pumps market is poised for continued growth as it plays a vital role in ensuring efficient and sustainable agricultural practices worldwide. With ongoing technological advancements, such as advanced control systems and precision irrigation techniques, coupled with the increasing adoption of renewable energy solutions, the market is expected to evolve further. This evolution will lead to the development of even more innovative and efficient pumping solutions that cater to the specific needs of the agriculture sector. These advancements will not only enhance productivity but also contribute to water conservation and resource optimization, making agriculture more sustainable and resilient in the face of evolving challenges.

The Global Agriculture Pumps Market is segmented into type, material type, power source, horsepower, head size, end user, regional distribution, and company.

Based on end user, in the global agriculture pumps market, irrigation consistently dominates over livestock watering. This trend can be attributed to the critical role of irrigation in crop cultivation, ensuring consistent yields and high-quality produce across varying weather conditions and diverse climate zones. By providing a controlled water supply to plants, irrigation systems optimize the distribution of water, nutrients, and fertilizers, resulting in improved growth and productivity.

The prevalence of irrigation as a key application of agricultural pumps also stems from its extensive use in both subsistence farming and commercial agriculture. In subsistence farming, where self-sufficiency is crucial, irrigation systems enable farmers to cultivate crops even in regions with limited rainfall or unreliable water sources. On the other hand, commercial agriculture relies heavily on irrigation to maximize crop yields and meet the demands of a growing population. From large-scale crop plantations to greenhouse farming, irrigation is a universal requirement in agricultural practices worldwide. By implementing reliable irrigation systems powered by efficient agricultural pumps, farmers can overcome the challenges posed by unpredictable weather patterns and water scarcity. This not only enhances food security but also contributes to the overall sustainability and resilience of the agricultural sector. As the world faces increasing pressures to feed a growing population, the significance of irrigation in ensuring stable and abundant food production cannot be overstated.

Based on region, the Asia-Pacific region holds a dominant position in the global agriculture pumps market, primarily due to its vast agricultural sector. This region, comprising countries like China, India, and Australia, is characterized by a high dependence on agriculture, with a significant proportion of the population engaged in farming activities. Moreover, rapid technological advancements, coupled with supportive governmental initiatives for modern farming practices, have spurred the adoption of advanced machinery like agricultural pumps. In China, for instance, the government has implemented policies to promote agricultural innovation and increase productivity. This includes the use of efficient irrigation systems powered by agriculture pumps, which help farmers optimize water usage and reduce wastage. Similarly, in India, the Green Revolution and subsequent initiatives have transformed the agriculture landscape, with the adoption of modern farming techniques and equipment playing a crucial role.

Australia, known for its vast agricultural lands, also relies on agriculture pumps to ensure efficient irrigation and precise water delivery. The country's arid climate makes water management a critical aspect of agriculture, and the use of advanced pumps helps farmers overcome this challenge. Furthermore, the increasing need to achieve food security amidst growing populations propels the demand for efficient irrigation systems, further bolstering the agriculture pumps market in the Asia-Pacific region. As the population continues to rise, the pressure on the agricultural sector intensifies, making it crucial to optimize resources and increase productivity.

 

Major companies operating in Global Agriculture Pumps Market are:

  • Grundfos AS
  • Lindsay Corporation
  • Valmont Industries, Inc.
  • Kirloskar Brothers Limited
  • Shimge Pump Industry Group Co., Ltd.
  • Franklin Electric Co.
  • Halliburton Company
  • Zhejiang Doyin Pump Industry
  • CRI Groups
  • Xylem Inc.

 

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“The future of the Global Agriculture Pumps Market holds great promise as it presents numerous opportunities across various sectors, including irrigation, livestock watering, and residential water supply. With technological advances like smart pumps and solar-powered pumps gaining traction, the market is expected to witness substantial growth. Furthermore, the increasing global population and the consequent rise in food demand, coupled with the prevailing water scarcity issues, are driving the urgent need for efficient agricultural pumps that can maximize productivity while minimizing water usage. As the world looks to address these challenges, the demand for innovative and sustainable solutions in the agriculture sector is set to soar, opening up new avenues for growth in the Global Agriculture Pumps Market.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Agriculture Pumps Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Rotodynamic Pumps, Centrifugal, Mixed Flow, Axial Flow, Positive Displacement, Reciprocating, Rotary), By Material Type (Iron, Bronze, Aluminium, Stainless Steel and Other), By Power Source (Electricity Grid-Connection, Diesel/Petrol, Solar), By Horsepower (0.5 to 3, 4 to 15, 16 to 30, 31 to 40, >40 HP), By Head Size (Up to 1 meter, 1–3-meter, 3-6 meter, 6-10 meter, 10-15 meter, Above 15 meter), By End User (Irrigation, Livestock Watering), By Region and Competition”, has evaluated the future growth potential of Global Agriculture Pumps Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Agriculture Pumps Market.

 

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