What Has Been The Evolution of the Agricultural Pumps Market in Recent Years?
The agricultural pumps market has seen considerable growth due to a variety of factors.
•In recent times, the market size for agricultural pumps has seen consistent growth. It's projected to increase from $5.38 billion in 2024 to $5.64 billion in 2025, with a compound annual growth rate (CAGR) of 4.8%.
The historical growth trend can be associated with factors such as trends relating to farm mechanization, government regulations and financial support, concerns over water scarcity, economic scenarios, and overall global agricultural movements.
What Is the Forecasted Market Size and Growth Rate for The Agricultural Pumps Market?
The agricultural pumps market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of agricultural pumps is anticipated to witness significant expansion in the coming years, likely to reach "$7.61 billion by the year 2029, growing at a compound annual growth rate (CAGR) of 7.8%.
Factors contributing to this growth during the projected period include an escalating population size and its correlated food demand, effects of climate change, the amalgamation of renewable energy, and advances in research and development. Predominant trends during this forecast period encompass intelligent farming technologies, technological progress, heightened uptake of precision farming, and growing concerns over water scarcity.
Which Factors Are Boosting Growth In The Agricultural Pumps Market?
The swift expansion of the agriculture industry is anticipated to drive the growth of the agricultural pump market onward. The agriculture industry is the segment of the economy engaged in crop production, livestock management, and the production of farming-related items such as agricultural equipment, fertilizer, and the like. An agricultural pump aids in accelerating cultivation by delivering the optimal quantity of water to various parts of the field. For instance, a report released by the Organization for Economic Co-operation and Development, a France-based intergovernmental organization, stated in June 2022 that agricultural productivity should augment by 28% in the coming ten years in order to meet the zero-hunger objective. Additionally, it is predicted that global crop production will witness an 87% surge by 2030. Hence, the fast-paced growth of the agriculture industry is fueling the advance of the agricultural pump market.
What Key Areas Define The Segmentation Of The Global Agricultural Pumps Market?
The agricultural pumps market covered in this report is segmented –
1) By Type: Rotodynamic Pumps, Positive Displacement Pumps
2) By Power Source: Electricity-Grid Connection, Diesel Or Petrol, Solar
3) By HP: 0.5-3, 4-15, 16-30, 31-40, >40
4) By End-Use: Irrigation, Livestock Watering
Subsegments:
1) By Rotodynamic Pumps: Centrifugal Pumps, Axial Flow Pumps, Mixed Flow Pumps
2) By Positive Displacement Pumps: Gear Pumps, Diaphragm Pumps, Piston Pumps, Screw Pumps, Peristaltic Pumps
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How Are Emerging Trends Reshaping The Dynamics Of The Agricultural Pumps Market?
Significant businesses in the agricultural pump sector are focusing on the creation of novel items like borewell pumps to improve water delivery systems. Borewell pumps are devices used to extract water from deep subterranean borewells or wells and are employed for various uses such as irrigation, domestic water flow, and industrial uses. For example, KSB Limited, an Indian pumps and valves firm, introduced a new series of power-saving pumps in August 2023. The KSTP Sewage Pumps are engineered for dewatering activities and are provided in a 1 PH arrangement. The KGP Control Panel is fitting for 100 mm borewell pump sets, accommodating both oil and water-loaded applications, and has a peak capacity of 2 HP. The UMN Series Oil Filled Pumpsets can handle up to 3 HP, making them ideal for low voltage situations, while the UPFN Borewell Pumpsets are built for high head applications capable of reaching capacities up to 30 HP. Additionally, the Ultra Plus Series Monoblock Pumpsets proffer three-phase options with capabilities up to 20 HP for varied water management operations. Finally, the KMR Series (Krishi Series) comprises open well pumps exclusively designed for irrigation applications.
Who Are the Key Players in the Agricultural Pumps Market?
Major companies operating in the agricultural pumps market include:
• Grundfos Holding A/S
• Xylem Inc.
• KSB SE & Co KGaA
• Flowserve Corporation
• Valmont Industries Inc.
• Jain Irrigation Systems Ltd.
• Franklin Electric Co Inc.
• Sulzer Ltd.
• WILO SE
• Zhejiang Doyin Pump Industry Group Co. Ltd.
• Lindsay Corporation
• Cornell Pump Company
• CNP (India) Private Limited
• Kirloskar Brothers Limited
• CRI Pumps Private Limited
• The Weir Group PLC
• Mahindra EPC Irrigation Limited
• Zhejiang Leo Group Pumps Co. Ltd.
• Mono Pumps Limited
• Texmo Pumps and Systems Limited
• National Pump Company (P) Ltd.
• Shakti Pumps (India) Limited
• Pentair plc
• Falcon Pumps Private Limited
• Walrus Pumps Co Ltd.
• Zhejiang Haicheng Suprasuny Pump Co. Ltd.
• Navitas Solar Pumps Private Limited
• Cat Pumps (US) Inc.
• VestJet AS
• Tsurumi Manufacturing Co. Ltd.
What Is The Most Dominant Region In The Agricultural Pumps Market?
Asia-Pacific was the largest region in the agriculture pumps market in 2024. The regions covered in the agricultural pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
