The Global Agricultural Pumps market is expected to grow at a CAGR of 5.5% during the forecast period. Increasing mergers and acquisitions, rising adoption of smart pumps and emergence of renewable energy submersible pumps are some of the key factors boosting the market growth. In addition, rising acceptance of solar pumps is one of the key trends that will gain traction in the market during the next few years. However, higher investment cost, less availability of spare parts and after sales services are some issues restricting the market growth.
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The agricultural market is shifting quickly, and farmers cannot depend on the technology and practices of the past. Knowing past practices, current water issues there is advancements in pump technology that will enrich building pumping systems that best service the requirements of present agriculture. Pumping systems play a crucial role in providing optimized solutions for energy and water use. A pump is defined as a system that is used to move liquid. It can be as simple as a spray bottle, or as complex as a human heart.
Amongst product, the centrifugal pumps segment accounted for the largest market share in the global market. It find applications in pumping fluids, cooling, and aeration. Owing to the huge investment plans by major countries in APAC and the Middle East, there will be huge demand for centrifugal pumps in the coming years as well. By geography, Asia Pacific will be the major revenue contributor to the agricultural pumps market throughout the forecast period. The positive government initiatives and huge investments in the agricultural sector, especially in countries such as China and India will drive the growth of this agricultural pumps market in APAC.
Some of the key players in the global Agricultural Pumps market Wilo, Sulzer, KSB, Grundfos, Flowserve, CORNELL PUMP COMPANY, Zhejiang DOYIN PUMP INDUSTRY, Xylem, WALRUS PUMP, Tsurumi Manufacturing, TOYO DENKI SEIZO, The Gorman-Rupp Company, Kaiquan Pump, Junhe Pumps, ITT Goulds Pumps, Halliburton Company, HAICHENG SUPRASUNY PUMP, General Electric, Franklin Electric, EBARA PUMP and Atlas Copco.
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Products Covered: Applications Covered: Regions Covered:
– Centrifugal Pumps
– Displacement Pumps
– Other Applications
o Rest of Europe
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