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.
The rotodynamic segment of the market is projected to account for the largest share, by type
The rotodynamic segment, by type, is estimated to witness a higher demand. Increasing the adoption of modern techniques for irrigation in developing countries is leading to increased demand for rotodynamic pumps.
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The market for agricultural pumps in the range of 4-15 hp is projected to account for the largest share during the forecast period
Based on hp, the market has been classified into 0.5 -3, 4-15, 16-30, 31-40, and > 40. The demand for pumps in the range of 4-15 hp is the highest due to their growing adoption in small and medium-sized landholdings. They are used to withdraw water from sources, such as reservoirs and lakes.
The availability of subsidy for solar pumps driving the growth of the market
Solar pumps are being provided at subsidized rates to the farmers across countries in China, India, and the Middle East. Due to this, the market for solar pumps would be growing at the fastest rate during the forecast period.
Asia Pacific is projected to hold the largest market share during the forecast period
Asia Pacific is the largest share of the global agricultural pumps market due to the presence of some of the major agricultural crop producers, such as China, India, and South Korea, which have large population sizes that demand various varieties of crop products to meet their consumption requirements. This has led to an increase in the land being brought under cultivation, which leads to the growing demand for agricultural pumps.
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This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the agricultural pumps market. It consists of the profiles of the leading companies such as Xylem Inc. (US), Grundfos (Denmark), Kirloskar Brothers Limited (India), KSB SE (Germany), Valmont Industries (US), Jain Irrigation Systems (India), Franklin Electric (US), WILO (Germany), Shakti Pumps Ltd (India), and Shimge Pump Industry Group Co., Ltd (China).
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