Press release
Global Agricultural Pumps Market Outlook to Reach $7.61 Billion by 2029, Growing at 8% CAGR
Agricultural Pumps Market Outlook
The swift expansion of the agricultural sector is anticipated to fuel the agricultural pump market's progression in the future. The agricultural sector, which encompasses crop and livestock production as well as agricultural engineering, equipment, fertilizers, and other farming necessities, relies heavily on agricultural pumps. These pumps efficiently distribute water throughout the fields, accelerating the cultivation process. As per a June 2022 report from the Organization for Economic Co-operation and Development, a France-based intergovernmental body, it is stated that agricultural productivity must increase by 28% over the next ten years to meet the zero-hunger goal. Additionally, the report predicts an 87% spike in global crop production by 2030. Consequently, the flourishing agriculture sector is providing significant momentum to the growth of the agricultural pump market.
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How will the growth rate of the agricultural pumps market shape industry trends by 2034?
In recent years, the market size for agricultural pumps has seen consistent growth. It is projected to expand from $5.38 billion in 2024 to $5.64 billion in 2025, marking a compound annual growth rate (CAGR) of 4.8%. The growth experienced in the historical period can be traced back to trends involving farming mechanization, government regulations and subsidies, concerns over water scarcity, economic circumstances, and international agricultural trends.
Expectations are high for the agricultural pumps market as it is anticipated to experience robust growth in the coming years. Forecasted to reach a size of "$7.61 billion by 2029 with a compound annual growth rate (CAGR) of 7.8%, growth during this forecast period can be linked to factors such as increased population and subsequent food demand, the effects of climate change, integration of renewable energy sources, and ongoing research and development. Notable trends during this period include advancements in smart agricultural technologies, increased implementation of precision farming, and a growing concern over water scarcity.
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What trends are poised to drive the future success of the agricultural pumps market?
Key players in the agricultural pump market are focused on creating innovative solutions like borewell pumps to improve water supply. A borewell pump refers to a device used for extracting water from deep underground borewells or wells for uses ranging from irrigation, household water provision, or industrial use. In a notable instance from August 2023, KSB Limited, an India-based pumps and valves manufacturer, introduced a fresh range of energy-efficient pumps. The newly released KSTP Sewage Pumps are ideal for dewatering uses and feature a 1 PH configuration. The compatible KGP Control Panel works with 100-mm borewell pump sets, and works with both oil- and water-filled applications, with a maximum strength of 2 HP. The UMN Series Oil Filled Pumpsets, which can handle up to 3 HP, are well suited for low voltage situations, while the UPFN Borewell Pumpsets are designed for high head uses, with capacities extending to 30 HP. Additionally, the Ultra Plus Series Monoblock Pumpsets have three-phase options with capacities of up to 20 HP for various water management jobs. Finally, the KMR Series, also known as the Krishi Series, contains open well pumps that are precisely crafted for irrigation needs.
Which primary segments of the agricultural pumps market are driving growth and industry transformations?
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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Which geographical regions are pioneering growth 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
Who are the influential players reshaping the agricultural pumps market landscape?
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.
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What Is Covered In The Agricultural Pumps Global Market Report?
• Market Size Forecast: Examine the agricultural pumps market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the agricultural pumps market for a structured understanding.
• Key Players Overview: Analyze major players in the agricultural pumps market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the agricultural pumps market.
• Segment Contributions: Evaluate how different segments drive overall growth in the agricultural pumps market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the agricultural pumps market.
• Industry Challenges: Identify potential risks and obstacles affecting the agricultural pumps market.
• Competitive Landscape: Review strategic developments in the agricultural pumps market, including expansions, agreements, and new product launches.
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