Agricultural Pumps Market, by Type (Axial-flow, Centrifugal, Mixed-flow, others), by Application (Agricultural Machinery, Agricultural Vehicles, Irrigation Systems, others), Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

Global Agricultural Pumps Market Analysis 2026:

The irrigation system of modern days is a complex system impacted by level of energy consumption, market conditions, use of water and application of knowledge and experience in order to obtain a suitable design as per the need of consumers. Comprehensive knowledge of past practices, requirement of water and energy and improvements in pump technology lead to production of better pumping systems for modern day needs of the farmers. Agricultural pumping systems which optimize energy, use water better than previous pumping solutions, have smart control as well as variable speed drives and can manage the integration of all components, are requirement for today’s agricultural pumping solutions. The pumping solutions such as centrifugal pumps, split case pumps and surface water intake used for groundwater withdrawal have become obsolete as they could not meet the changing conditions of pressure above and below ground.  The modern pumping solutions are able to provide right quantity of pressure and right flow as required. Though generally most pumps are not able to operate optimally but every new system produced is better than the old one.

Increasing Global demand for agricultural produce is one of the important factors for the growth of agricultural pump market.

Increasing global population attributed to massively growing demand for the huge agriculture production, is one of key factors driving the market growth of agricultural pump market. For instance, as per study of FAO (Food and Agriculture Organization), the population is predicted to reach up to 10 billion by 2050, boosting agricultural demand, across the globe. Moreover, massive growth in urbanization and modernization, improved efficiency of agricultural pumps, rising adoption of smart pumps, worldwide accelerates the growth of agricultural pumps global market.

Farmers’ Perceptions, Awareness, and Knowledge Gaps are restraining the growth of global Agricultural Pumps Industry

However, lack of knowledge among farmers is anticipated to hinder the demand for the agricultural pumps market.

Recent inventions such as IoT and GSM based Solar Operated Water Pump projected to create enormous opportunities for the Agricultural Pumps market

Large availability solar energy and clean source of energy in the world can be used as an essential tool for making growth and development of the global agricultural industry. The IoT and GSM based solar operated water pump system can create immense opportunities for the growth of agricultural pumps market. The key advantages of this pump can be used to reduce the farmers’ effort in the remote places. The farmer (client) can access all operations using his mobile phone.

Agricultural Pumps Market Segmentation, by Type:

Centrifugal Pumps segment will be most lucrative till 2026

Centrifugal pumps are most popular in agricultural sector with the features such as being handy and light weighted, easy to install and their availability in multiple sizes. Centrifugal pumps have various applications such as pumping fluids, and cooling along with applications in oil and gas sector and mines. Moreover, recent technological innovations of centrifugal pumps can minimize the operational cost of pumps to zero; this is another driving factor that is projected to grow the global agricultural pump market.

On the other hand, the market of mixed-flow type of pumps is projected to grow with notable CAGR in the forecast period owing to the number of key benefits such as booster service and optimized hydraulics for high efficiency.

Agricultural Pumps Market, by Application:

Irrigation segment will witness a dominant revenue till 2026

Farmers are massively preferring the irrigation system for their crops. For instance, according to study of Food and Agriculture Organization of the United Nations, the demand for water has grown tremendously and agriculture accounts for around 70% of total freshwater withdrawal across the globe, majorly through the irrigation system. In addition, immense growth in drip irrigation activities along with technological innovations of irrigation such as Yield-modeling tools, Remote-sensing technology and many others, are anticipated to drive the growth of global agricultural pumps market.

Agricultural Pumps Market, by Region:

Asia-Pacific region will have lucrative opportunities for the market investors

The economies of Asia-Pacific region such as India China and other agrarian countries contribute majorly to the global agricultural produce. Therefore, the demand for enhancement of the agricultural productivity may boost the global agricultural pumps market. In addition, increasing agricultural activities and government support in the form of non-financial and financial incentives is anticipated to augment the agricultural pumps market in this region. For instance, Asian countries like Vietnam, China, and Thailand are able to sustain growth rates of 4 % or more in agricultural activities. Also, top agricultural producing countries are focusing more on subsidy scheme for promoting Solar Photovoltaic (SPV) Water pumping systems for irrigation purpose. Aforementioned factors are anticipated to make positive impact on the growth of agricultural pumps in Asian market.

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Key Participants in Global Agricultural Pumps Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Source: Research Dive Analysis

Some of the significant agricultural pumps market players include Wastecorp Pumps., WILO SE, Sulzer, Whisper Pumps, Franklin Electric South Africa (PTY) Ltd, KSB SE & Co. KGaA, V-GUARD INDUSTRIES LTD., CORNELL PUMP COMPANY., HAICHENG SUPRASUNY PUMP CO., LTD., and Flowserve Corporation.

Market players prefer inorganic growth strategies to expand into local markets. Agricultural Pumps Market players are emphasizing more on merger & acquisition and advanced product development. These are the frequent strategies followed by the established organizations.

Source: Research Dive Analysis