Jul 8, 2020   SOURCE: BusinessWire

Agricultural Pump Market by Type, Power Source, HP, End-Use, and Region - Global Forecast to 2025 - ResearchAndMarkets.com

The "Agricultural Pump Market by Type (Rotodynamic Pumps, Positive Displacement Pumps), Power Source (Electricity-grid Connection, Diesel/Petrol, Solar), HP, End-Use (Irrigation, Livestock Watering), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global agricultural pumps market is estimated at USD 4,206.0 million in 2020 and is projected to grow to USD 6,056.5 million by 2025 at a CAGR of 7.6% during the forecast period.

Factors such as increasing land being brought under irrigation, rising adoption of modern agricultural practices in developing countries, government support in the adoption of new agricultural equipment and technology, increased rate of mechanization, and the advent of big data in agricultural farms are some of the factors driving the growth of the market.

The market for positive displacement pumps is projected to grow at the highest CAGR between 2020 and 2025.

Positive displacement pumps develop high pressures while operating at low suction pressures. They are used when the constant flow has to be maintained regardless of pressure. In these pumps, the flow is usually regulated by varying the speed of the pump. Positive displacement pumps are more efficient than centrifugal ones and are used for highly viscous liquids. Characteristics such as better control and higher efficiency are fueling the market demand.

The solar pumps segment is projected to grow at the highest CAGR between 2020 and 2025.

Solar pumps work on electricity produced by thermal energy collected from sunlight or photovoltaic panels, a process of transforming solar energy into electricity. These pumps do not rely on diesel or electricity, and therefore, bring about better effectiveness and productivity. These pumps do not create issues, such as feeder damage, supply cut, price hikes, etc. Moreover, solar pumps have a minimal environmental impact than any other powered pumps that have observed a huge growth in the worldwide market of solar pumps.

The segment for pumps between the range of 4.0-15HP is projected to grow at the highest CAGR between 2020 and 2025.

Pumps under this range of horsepower can withstand wide voltage fluctuations from 300-440 Volts, suction lift up to 7.5 meters, and a top flat efficiency curve. 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. It is used to withdraw water from sources such as reservoirs and lakes.

Livestock watering, as an end-use of agriculture pumps, projected to grow at the highest CAGR between 2020 and 2025.

Agriculture pumps are widely preferable for reasons, such as lower maintenance, the potential for automated and remote control, and the ability to use solar power either as the only power source or as a supplementary power source for grid-connected pumps. Due to efforts to use improved grazing strategies, such as paddock grazing or intensive rotational livestock, producers need dependable and economically alternative methods of providing water to livestock fueling the demand for the agricultural pumps market.

The agriculture pump industry in Asia Pacific is projected to grow at the highest CAGR during the forecast period.

Factors driving the adoption of agriculture pumps in Asia Pacific include the increasing demand for food, high pressure to improve yields with limited available resources, and increasing requirement to protect crops from unexpected climatic changes.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with the key experts.

Market Dynamics

Drivers

  • Government Support for the Adoption of Modern Agricultural Equipment
  • Increased Mechanization of Agricultural Activities At A Global Scale

Restraints

  • High Costs Associated With the Installation and Maintenance of Pump Systems
  • Operation of Large Pumps in Fragmented Land Holdings

Opportunities

  • Increasing Adoption of Modern Techniques for Irrigation in Developing Countries Leading to Increased Demand for Rotodynamic Pumps
  • Advent of Big Data in Agricultural Farms
  • Integration of Smartphones With Hardware Devices and Software Applications

Challenges

  • Degradation of Equipment

Company Profiles

  • Grundfos
  • Xylem
  • Lindsay Corporation
  • Valmont Industries Inc.
  • Jain Irrigation Systems Ltd.
  • Shimge Pump Industry Pvt. Ltd.
  • Franklin Electric
  • Zhejiang Doyin Pump Industry Co. Ltd
  • Mahindra Epc Ltd.
  • Leo Group Pumps (Zhejiang) Co., Ltd.
  • CNP Pumps India Pvt. Ltd.
  • Flowserve
  • Ksb
  • Wilo
  • Mono
  • Texmo
  • National Pump Company
  • Shakti Pumps
  • Weir
  • Pentair Pumps

For more information about this report visit https://www.researchandmarkets.com/r/3hl8sx