Global Agricultural Pumps Market expected to record a CAGR of ~6% during the forecast period (2017-2028): Ken Research

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What Is The Size Of Global Agricultural Pumps Industry?

Global Agricultural Pumps market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 7 Bn by 2028.

The Agricultural Pumps Market is largely driven by the consistent rise in global population, increased pressure for food on agricultural production/supply system, growing adoption rate of modern and efficient farming techniques and governments across the world proactively supporting the modernization.

Global population is growing at a consistent pace. Proportionately, the demand for food is also expected to increase, resulting in the need for more and more cultivable lands to be brought under an efficient irrigation system. It requires powerful and efficient pumps that could draw water from underground sources as well as surface-level reservoirs.

Agricultural pumps also help make the farming process more efficient and cost-effective. For instance, solar energy-powered pumps can reduce disruptions in the water supply at places where the supply of electricity is insufficient and irregular. Centrifugal pumps, a sub-category of the rotodynamic variety, are capable of transferring low-viscosity fluids at a high flow rate. A rotodynamic pump is also designed in a way that makes it ideal for handling large volumes of water without requiring a high maintenance cost. The design of these pumps is simple and they are suited for operations that are run continuously. Positive displacement pumps, on the other hand, help deal with high-viscosity fluids, such as groundwater. They remain steadily efficient even in situations where the supply of water is irregular in its pressure, flow, and viscosity.

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Global Agricultural Pumps Market By Product Type

The Global Agricultural Pumps market is segmented by Product type into Rotodynamic Pumps and Positive Displacement Pumps.

Rotodynamic pumps accounted for the largest share of the market in 2022. Among its sub-categories, namely Centrifugal Pumps, Axial Flow Pumps, and Mixed Flow Pumps, Centrifugal pumps emerged as the largest segment. The positive displacement pumps are expected to witness the fastest CAGR during the forecast period of 2022-2028.

The Centrifugal Pumps witnessed the maximum demand owing to its capability of offering high levels of efficiency across a range of operating conditions. These pumps are also easy to install and can be deployed at lower costs. Mixed flow pumps, another subcategory of rotodynamic pumps, offer a high flow rate, while axial flow pumps are known for their higher mass-flow rates.

Global Agricultural Pumps Market By Power Source

The Global Agricultural Pumps market is segmented by Power source into Electricity Grid-Connection, Diesel/Petrol and Solar.

Pumps powered by electricity grid connections accounted for the largest share of the market in 2022. However, solar energy-powered pumps are expected to witness the fastest growth during the forecasted period of 2022-2028.

In vast areas of North America, Europe, and the Asia Pacific, electricity grid-connected agricultural pumps are preferred as they are relatively cheaper than diesel/petrol-powered pumps. Many provincial and national governments in the Asia Pacific region offer subsidies on the price of electricity as well.

Solar power-backed pumps that leverage the technology of photovoltaic cells are considered sustainable solutions that are immune from fluctuations in prices as is evident in the cases of electricity or fossil fuel.

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Global Agricultural Pumps Market By Power Rating

The Global Agricultural Pumps market is segmented by Power rating into 0.5-3 hp, 4-15 hp, 16-30 hp, 31-40 hp and >40 hp.

The 4-15 hp segment accounted for the largest segment of the market in 2022, and is expected to continue on its growth trajectory at a substantial pace during the forecast period of 2022-2028.

The largest market share of the 4-15 hp segment is driven by these pumps’ capability to resist voltage fluctuations. Small and medium-sized landowners deploy these pumps as solutions to extract water from lakes and reservoirs.

Fragmentation of cultivable land is a reality across the world. According to the data published by the Food and Agriculture Organization of the United Nations in 2021, five of every six farms in the world are built on less than two hectares of land.

Global Agricultural Pumps Market By Application

The Global Agricultural Pumps market is segmented by Application into Irrigational and Livestock Watering.

In terms of application, agricultural pumps meant for irrigation occupied the largest share of the market in 2022.

The depletion of groundwater, diminishing levels of surface water reserves, and major droughts across large regions like Chile or the United States have made irrigation pumps a dire necessity for most farmers worldwide. Efficient irrigation also ensures high levels of productivity and profitability in the agricultural sector.

According to the Census of Agriculture conducted in the United States in 2017, farms with irrigation held more than 54% of the total value of U.S. crop sales, whereas irrigated land accounted for less than 20% of the country’s total harvested cropland.

Key Topics Covered in the Report

• Snapshot of the Global Agricultural Pumps Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Agricultural Pumps Market
• Historic Growth of the Overall Global Agricultural Pumps Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of the Global Agricultural Pumps Industry
• Overview, Product Offerings, and Strength & Weakness of Key Competitors
• COVID-19 Impact on the Overall Global Agricultural Pumps Market
• Future Market Forecast and Growth Rates of the Total Global Agricultural Pumps Market and by Segments
• Market Size of Application Segments with Historical CAGR and Future Forecasts
• Analysis of the Global Agricultural Pumps Market
• Major Production/Supply and Consumption/Demand Hubs within Each Region
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Region

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Notable Major Companies Mentioned in the Report

• Xylem Inc.
• Grundfos
• Franklin Electric
• Flowserve
• WILO
• Falcon Pumps Pvt. Ltd.
• Walrus Pump Co. Ltd.
• Kirloskar Group
• Haicheng Suprasuny
• Lindsay Corporation

Notable Emerging Companies Mentioned in the Report

• Futurepump Ltd.
• aQysta
• Ecozen Solutions
• Khethworks
• Intech Harness

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Agricultural Pumps and Component Manufacturers
• Agricultural Supply Marketplaces
• Government Agricultural Departments
• Agri-tech Startups
• Agri-tech Industry Investors/ VC Funds
• Agricultural Pump Raw Material Suppliers
• Farmer Support Groups/ Non-Governmental Organization (NGO)
• Large Agricultural Farms/ Food Production Companies

Time Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022E-2028F

For More Insights On Market Intelligence, Refer To The Link Below: –

Global Agricultural Pumps market

3 Key Insights on Nearly $7 Bn Opportunity in the Global Agricultural Pumps Market

 Driven By the Rise in Global Population, Increased Pressure for Food on Our Agricultural Production/Supply System, Growing Adoption Rate of Modern and Efficient Farming Techniques, and Governments Across the World Proactively Supporting Modernization, the Global Agricultural Pumps Market is Forecasted to Reach Nearly $7 Bn by 2028, says Ken Research Study.

Agricultural pumps are considered to be immensely crucial machines that help make irrigation and farming efficient and cost-effective. Apart from serving the purpose of irrigation on cultivable lands, these pumps also prove effective for livestock watering. Transferring and distributing water, pulled out by these pumps from reservoirs or wells, can be done by drip sprinklers and using hosepipes. An agricultural pump may be powered by electricity, solar energy, or diesel/petrol. Depending on the depth of the water source and the pressure required to transfer the water to the field, these pumps can have varying hydraulic or water horsepower, starting from 0.5 hp to more than 40 hp.

“Ken Research shares 3 key insights on this high opportunity market from its latest research study”

1. Efforts Undertaken to Increase Food Production through Efficient Farming Techniques are Helping the Global Agricultural Pump Market to Grow

The Global Agricultural Pumps market is expected to grow steadily at a moderate pace during the forecasted period of 2022-2028. A steadily increasing population across the world is leading to a steady increase in the demand for food. The growing demand for food cannot be met without an increase in yield. It requires efficient farming techniques. Cost-effective and efficient irrigation is a major component in making farming optimally productive. According to the latest available data (as of October 7^th, 2022) published by the Food and Agriculture Organization (FAO) of the United Nations, the worldwide production of cereals increased to 2,768.4 million tonnes from 2,644.3 million tonnes in 2018-19. During the same period, the global production of wheat increased from 731.4 million tonnes to 787.2 million tonnes, and the production of wheat coarse grain increased from 1,404.7 million tonnes to 1468.4 million tonnes. Such a steady increase would not be sustainable if farmers and farming organizations do not keep deploying effective pumping systems for irrigation and water management.

The Global Agricultural Pumps Market was valued at ~US$3 billion in 2017. The market is estimated to have reached ~US$5 billion in 2022 and grow further to a size of ~US$7 billion by 2028.

2. Growth in Poultry Consumption Leading to a Growth in Livestock Watering Needs

Apart from irrigation in the agricultural fields, agricultural pumps also cater to the need for livestock watering. According to the data presented by the Economic Research Service (ERS), U.S. Department of Agriculture, poultry has emerged as the most consumed livestock commodity in the world. Between 2001 and 2021, global poultry imports increased by an average of 4% a year to reach 14.2 million metric tons in 2021. The ERS estimates that this consumption would keep increasing to reach 17.5 million metric tons by 2031. Growth in poultry consumption is expected to boost the demand for livestock watering and pumps that serve this purpose.

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3.   Solar Agricultural Pump Pricing Remains Prohibitive in Many Parts of the World

While Solar Pumps are energy-efficient and sustainable solutions for agricultural irrigation, its price still remains prohibitive, especially in areas that need them the most, like Sub-Saharan Africa. According to the data provided by Rural Power Systems, USA, a solar pump will cost around $1,600 to $2,000 to fetch water out of wells that are 150 feet in depth. For a well up to 300 feet deep, the price could go up to anywhere between US$2,500 and US$3,500. These prices are significantly higher than the per capita GDP in the Sub-Saharan region, which was nearly US$1,502 in 2020 and US$1,646 in 2021.

For more information on the research report, refer to the below link:

Top Agricultural Pumps Manufacturing Companies

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