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
Positive displacement pumps
Based On Power Source: (Revenue, USD billion, 2021 – 2028)
Based On End-use: (Revenue, USD billion, 2021 – 2028)
Based On HP: (Revenue, USD billion, 2021 – 2028)
Based On Region: (Revenue, USD billion, 2021 – 2028)
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Further key findings:
Key insights presented in the report:
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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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