Agriculture

Global Agricultural Pump Market

July 4, 2020
ID: SR/AG-10
Format:Pdf
Pages:220

Global Agricultural Pump Market By Type (Rotodynamic Pumps (Centrifugal, Mixed Flow, Axial Flow), and Positive Displacement Pumps (Rotary and Reciprocating Pumps)), By Power Source (Electricity-Grid Connection, Diesel/Petrol, and Solar), By Horsepower (0.5 -3, 4-15, 16-30, 31-40, and > 40), By End-Use (Irrigation, and Livestock Watering), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)-Global Forecast to 2027

Description

Global Agricultural Pump Market Overview:

Agricultural water pumps are a type of agricultural machinery. Water pumps are machines that transport or pressurize liquids. According to the principle, the main working parts and structural features to classify the first type is a vane pump, by rotation of the impeller to a centrifugal force or a driving force for work. The second category is the displacement pump. It alternates the piston, the piston’s working volume, such as rod pumps and triple pumps; the third category is a particular type of pumps, such as water hammer pumps and the like. There are suitable deep pumps and water pumps if classified according to the working characteristics and structural characteristics of power machines and water pumps.

Global Agricultural Pump Market Insights

The global agricultural pump market size was valued at over USD 4.14 billion in 2019 and projected to reach USD 7.02 billion by 2027 with a gain of over 6.56% CAGR during the forecast period, 2020-2027. The major growth is the growing adoption of modern irrigation techniques in developing countries and the advent of big data in agricultural farms. Additionally, the increasing global population and large dependency on agriculture production will accelerate the growth of the global agricultural pump industry in future periods. The growing population worldwide and the increasing concern about the growing demand for food will foster the growth of the agricultural pump market. Further, the mounting industrialization and construction activities and the swelling agriculture activities across the world will complement the industry growth. The surge in the adoption of solar pumps for irrigation purposes in developed and developing countries provides an inadequate supply of electricity, and the use of diesel-powered generators are anticipated to enhance the agricultural pump demand.

Moreover, the growing use of renewable energy centrifugal pumps to decrease the operation cost of pumps to zero will stimulate the global agricultural pump market share in the analysis timeframe. Since water resources are essential agricultural production factors, during drainage, irrigation, flood, and drought, there is an urgent need for convenient and rapid drainage and irrigation power to ensure the cultivation of crops. The surge in the adoption of smart pumps helps overcome challenges such as the fluctuating power supply, and difficulty in accessing pumps installed at rough terrains is expected to foster the global market growth. The growing adoption of solar pumps across the world will accelerate the growth of the global agricultural pump market in the upcoming years.

Growth Driver

Growing mechanization of agricultural activities in developing countries

Agricultural mechanization promotes the transformation and application of agricultural scientific and technological achievements. Agricultural mechanization is an active carrier of agricultural science and technology promotion. It is perfecting the agricultural mechanization technology promotion mechanism, accelerating agricultural mechanization technology innovation. It promotes agricultural mechanization technology progress and achieving a close combination of agronomy and agricultural machinery is an effective way to improve the transformation and application of agricultural science and technology achievements. Agricultural mechanization promotes the rapid transformation of agricultural.

Type Segmental Analysis

Based on the type, the global agricultural pump market classified into rotodynamic pumps (centrifugal, mixed flow, axial flow) and positive displacement pumps (rotary and reciprocating pumps). The rotodynamic pumps segment is expected to capture the highest revenue share for the agricultural pump during the forecast period. The key factors are growing the adoption of modern techniques for irrigation in developing countries.

The displacement pumps will witness steady growth during the forecast period because it is self-priming and especially advantageous when handling hazardous chemicals.

Power Source Segmental Analysis

Based on the power source, the global agricultural pump market segregated into electricity-grid connection, diesel/petrol, and solar. The solar segment held a higher market share in 2019 and expected to dominate the global agricultural pump market by 2027. It is due to the availability of solar pumps at subsidized rates to the farmers across developing countries and increasing agriculture activities in these regions.

The electricity-grid connection will grow at a momentous CAGR in the forecast period on account of its advantages such as lower maintenance, higher potential, and remote access.

Horsepower Segmental Analysis

Based on the horsepower, the global agricultural pump market segmented into 0.5 -3, 4-15, 16-30, 31-40, and > 40. The 4-15 HP segment anticipated significant growth over the analysis timeframe due to increasing adoption in small and medium-sized landholdings. It used to withdraw water from sources, such as reservoirs and lakes.

The 16-30 HP is poised to record the fastest growth during the forecast period. It has better surface finish, better efficiency and consistent performance, lesser weight, and lower height, resulting in ease in installation and transportation.

End-use segmental Analysis

Based on the end-use, the global agricultural pump market bifurcates into irrigation and livestock watering. The irrigation segment dominates the global agricultural pump in 2019 and likely to capture maximum revenue by 2027. It is attributable to the agricultural sector makes use of pumps for irrigation purposes, and the growing area being brought under irrigation will demand agricultural pump in the future periods.

The livestock watering will grow at a significant CAGR in the forecast period due to the growing meat consumption across the globe, requiring an agricultural pump.

Region Segmental Analysis

By geography, the global agricultural pump market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific dominated the agricultural pump market in 2019. Due to the significant economies of India, China, and Japan in the region, it has positive government initiatives and massive investments in the agricultural sector.

North America will capture a prominent share of the agricultural pump market by 2027. Due to the presence of well-established and emerging players in the region and providing a variable speed technology-based pump that offers more energy-efficient features for carrying out irrigation.

Competitor Analysis

Companies such as Xylem Inc., Grundfos, Shakti Pumps Ltd, Valmont Industries, Jain Irrigation Systems, Lindsay Corporation, Shimge Pump Industry Group, Franklin Electric, Zhejiang Doyin Pump industry Co. Ltd, Mahindra EPC Ltd, Leo Group Pumps, CNP Pumps India Pvt Ltd, Flowserve, KSB SE, WILO, Mono Pumps, Texmo Pumps, National Pump Company, Weir Pumps, and Pentair Pumps are the key players in the global agricultural pump market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global agricultural pump manufacturing firm
Research organizations and consulting companies
Organizations, associations, and alliances related to agricultural pump
Regulatory bodies
Suppliers
Retailers

Scope of the report

Report Attribute	Details
Market size value in 2020	USD 4.14 Billion
Revenue forecast in 2027	USD 7.02 Billion
Growth Rate	CAGR of 6.56% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Xylem Inc., Grundfos, Shakti Pumps Ltd, Valmont Industries, Jain Irrigation Systems, Lindsay Corporation, Shimge Pump Industry Group, Franklin Electric, Zhejiang Doyin Pump industry Co. Ltd, Mahindra EPC Ltd, Leo Group Pumps, CNP Pumps India Pvt Ltd, Flowserve, KSB SE, WILO, Mono Pumps, Texmo Pumps, National Pump Company, Weir Pumps, and Pentair Pumps

Recent Developments

In February 2018, Lindsay Corporation announced its FieldNET application, which is intended to fully automate farm functions, including motors, pumps and emitters.
In November 2019, WILO USA LLC, a subsidiary of WILO SE, through its recently-established subsidiary, American-Marsh Pumps LLC, gained US manufacturer J-Line Pump Co. d/b/a American-Marsh Pumps. The acquisition of American-Marsh Pumps reinforces its footprint in the US and extends the product portfolio for its customers in the water management, industry, and building services sections.
In January 2020, Franklin Electric obtained Valley Farms Supply, Inc. (Lansing, Michigan) for USD 9.0 million. Valley Farms is a professional groundwater wholesaler working at three locations in Michigan and one in the State of Indiana. Valley Farms has approximately USD 28.0 million of merged annual sales.

The objective of the Research

Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Type

Rotodynamic Pumps
- Centrifugal
- Mixed Flow
- Axial Flow
Positive Displacement Pumps
- Rotary
- Reciprocating pumps

By Power Source

Electricity-Grid Connection
Diesel/Petrol
Solar

By Horsepower

5 -3 HP
4-15 HP
16-30 HP
31-40 HP
> 40 HP

By End-Use

Irrigation
Livestock Watering

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is an agricultural pump?

Agricultural water pumps are a type of agricultural machinery. According to the principle, an agricultural pump’s main working parts and structural features to classify the first type is a vane pump, by rotating the impeller to a centrifugal force or a driving force for work.

What is the growth rate of the agricultural pump market?

The global agricultural pump market size was valued at over USD 4.14 billion in 2020 and projected to reach USD 7.02 billion by 2027 with a gain of over 6.56% CAGR during the forecast period, 2020-2027.

What are the major drivers for the agricultural pump market?

Growing mechanization of agricultural activities in developing countries and government support towards adopting modern agricultural equipment are the major drivers for the agricultural pump market.

Which region is expected to witness significant demand during the forecast period?

The Asia Pacific is expected to project considerable growth over 2020-2026 due to supportive government initiatives, massive agricultural industry investments, and significant economies of India, China, and Japan in the region.

Who are the prominent players in the agricultural pump market?

Xylem Inc., Grundfos, Shakti Pumps Ltd, Valmont Industries, Jain Irrigation Systems, Lindsay Corporation, Shimge Pump Industry Group, Franklin Electric, Zhejiang Doyin Pump industry Co. Mahindra EPC Ltd, Leo Group Pumps, CNP Pumps India Pvt Ltd, Flowserve, KSB SE, WILO, Mono Pumps, Texmo Pumps, National Pump Company, Weir Pumps, and Pentair Pumps are the prominent players in the global agricultural pump market.

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