Pump is a device which moves liquids (fluid or gases), and slurries through mechanical action. Pumps is classified into three major groups such as direct lift, displacement, and gravity pumps. Agricultural Pump is a pump designed for agricultural use, also recognized as agricultural machines. It is used to move water from the water supply to the specified area of dry land. It is generally used to assist in crop growing & maintenance of vegetation, lawns, and fields. The key benefits include irrigational quality enhancement, high irrigation efficiency, variety of equipment, no high maintenance and low cost etc.
According to study, “World Agricultural Pump Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world agricultural pump market are Grundfos Group, The Gorman-Rupp Company, Wilo, Franklin Electric Co. Ltd., Tsurumi Manufacturing, ITT Goulds Pumps, Cat Pumps, Schlumberger Limited, Dongyin Pump, General Electric, Mono, Ebara Pumps, Leo, Toyo Denki Seizo, Cornell Pump Company, Haicheng Suprasuny Pump, Borets International Ltd., Halliburton Company, Weir Group Plc., Suprasuny, Commitment Reliability Innovation, Zhejiang Doyin Pump Industry, Dayuan Pump, Shimge Pump, Kaiquan Pump, Xylem, Baker Hughes, Junhe Pump, Sulzer AG, CNP, Calpeda S.P.A., Atlas Pump AB, Walrus Pump, Flowserve, Kirloskar Brothers Limited (KBL), KSB AG, East Pump, Lingxiao Pump. The key vendors are opting for long-term contracts due to the stiff competition in the market & high volatility of raw material prices. This approach has allowed several players to increase their product portfolio & market share.
Based on type, agricultural pump market is segmented into centrifugal pumps and displacement pumps. Centrifugal pumps are further sub-segmented into turbine pumps, submersible pumps (openwell submersible pumps, borewell submersible and non-clog submersible), end section centrifugal pumps, floating pumps, jet pumps (shallow well and deep well), and booster pumps. Displacement pumps are further sub-segmented into piston pumps, roller-tubes, diaphragm pumps, and rotary pumps. Based on drive type, market is segmented into hydraulic drive, electric drive and other drive types. Based on head, market is segmented into < 50m, between 50 m to 100 m and > 100 m. Based on application, market is segmented into farm, garden and others. In addition, based on downstream industry, market is segmented into irrigation systems, agricultural vehicles, agricultural machinery and others.
The agricultural pump market is driven by increase in development of 3D printed impellers, followed by increase in mergers & acquisitions, rise in adoption of smart pumps, overall growth in agricultural sector, growth in labor costs, increase in population & rise in economic development and emergence of renewable energy submersible pumps. However, less availability of spare parts & after sales services, lack of skilled labor and higher investment cost may impact the market. Moreover, rise in acceptance of solar pumps and new technology innovations are key opportunities for market.
Based on geography, China and India countries hold major share in agricultural pump market owing to huge investments in the agricultural sector and positive government initiatives. USA and Europe are expected to witness substantial growth due to strict regulations for wastewater treatment across industries, surge in industrial infrastructure and growth in the construction industry over the forecast period.
For more information, click on the link below:
World Agricultural Pump Market Research Report 2024
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