APAC to Dominate Agriculture Pumps Market During Forecast Period
Rise in adoption of solar pumps for irrigation purposes is expected to drive the growth of global agriculture pumps market.
According
to TechSci Research report, “Global Agriculture Pumps Market 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-Use (Irrigation, Livestock Watering),
By Region, Competition, Forecast & Opportunities, 2025”, global
agriculture pumps market is expected to witness significant CAGR during the
forecast period. Increasing global population accounts for large dependency on
agriculture production, which is
one of the major factors accounting for the growth of global
agriculture pumps market. Moreover, high usage of renewable energy centrifugal
pumps, so that operation cost of pumps can be reduced to zero, is further
expected to bode well for the growth of global agriculture pumps market through
the forecast period. In addition to this, rising adoption of modern techniques
of irrigation in developing countries is further projected to positively
influence the growth of global agriculture pumps market in the years to come.
Also, growing use of big data in agricultural sector, is further making headway
for the growth of global agriculture pumps market. Furthermore, there are some
factors that might act as major impediments to the growth of global agriculture
pumps market through the forecast period such as lack of technical knowledge
and skills.
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market data Tables and XX Figures spread through XX Pages and an in-depth TOC on " Global Agriculture Pumps Market
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Global
agriculture pumps market can be segmented based on type,
material type, power source, horsepower, head size, end-use, company,
and region. Based on end-use, the market can be bifurcated into irrigation and
livestock watering. Out of these, the irrigation segment dominated the market
until 2019 and is expected to hold its dominance during the forecast period as
well which is accredited to the growing area being brought under irrigation. Also,
the livestock watering segment is estimated to register high growth in the next
5 years, due to rising meat consumption across the regions, which is leading to
high need for agriculture pumps in the livestock watering sectors. This is
projected to positively impact the growth of segment over the coming years.
Grundfos As, Lindsay Corporation, Valmont
Industries Inc., Kirloskar Brothers Limited, Shimge Pump Industry Pvt. Ltd., Franklin
Electric Company, Zhejiang Doyin Pump Industry Co. Ltd, Mahindra Epc ltd., Leo
Group Pumps (Zhejiang) Co., Ltd., CNP Pumps India Pvt. Ltd., CRI Groups, KSB SE
& Co., Xylem Inc, Ebara Pumps, are among others are the leading
players operating in global agriculture pumps market. The
leading players are adopting several growth strategies to enhance the market
scenario of agriculture pumps. Other competitive strategies include new
technological developments; mergers & acquisitions; agreements,
partnerships, and collaborations; and expansions to diverse their product
portfolio in order to strengthen their market position. For instance, in January
2020, Franklin Electric acquired Valley Farms Supply, Inc. (Lansing, Michigan)
for USD 9.0 million. Valley Farms Supply, Inc. is a professional groundwater
distributor operating three locations in the State of Michigan and one in the
State of Indiana.
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“Asia Pacific is
forecast to dominate the global agriculture pumps market until 2025 on account
of subsidies being provided for solar and electric pumps by the agricultural
ministries of countries such as China and India. Furthermore, presence of
well-established and emerging players in the region is further anticipated to
boost the market growth for agriculture pumps over the coming years. Along with
this, high development in agriculture sector in the region is further expected
to contribute to the growing trend in the upcoming years.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Agriculture Pumps Market 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-Use (Irrigation, Livestock Watering), By Region, Competition,
Forecast & Opportunities, 2025” has evaluated the future growth potential of global agriculture
pumps market and provides statistics & information on market size,
structure and market growth future. 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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