The global Agricultural Pumps Market is evaluated to augment from USD 4.21 billion in 2020 and reach USD 7.6 billion by 2028, at a CAGR of 7.9% during the estimated time. The gradual shift from traditional farming techniques to advanced methods is flourishing the agricultural pumps market demand. Agricultural pumps are becoming an essential aspect of the farming industry.
This report on the Agricultural Pumps market delivers a cumulative synopsis of the speculations of this business, overall, along with an evaluation of its segmentations. It predicts the Agricultural Pumps market to advance as one of the most profitable verticals, generating massive revenue by the end of the forecast years, exhibiting a sizable growth rate over the calculated period. The opportunities for growth and expansion that are prominent in the sector as well as the geographical coverage of the industry have also been investigated by the report.
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The major key players in the market are Xylem Inc (US), Flowserve Corporation (US), KSB SE & Co. (Germany), Grundfos (Denmark), Lindsay Corporation (US), Valmont Industries (US), Kirloskar Brothers Limited (India), Shimge Pump Industry Group Co., Ltd (China) and Jain Irrigation Systems (India)
Further key findings:
- The rotodynamic pumps are predicted to occupy the highest market share during the projected time based on the type. These pumps have gained popularity during recent years, and the increased utility has augmented the growth of the agricultural pumps market.
- The positive displacement pumps section is expected to witness the fastest growth due to the high efficiency of these pumps during the analysis period from 2021 to 2028.
- On the basis of power source, the solar pumps section is approximated to occupy a considerable share in the global agricultural pumps market. These pumps make use of photovoltaic cells. The demand for solar pumps is rising in many countries with power shortage problems. Many farmers have obtained solar pumps at affordable prices.
- The Asia Pacific region led the market with the largest share in the agricultural pumps market in the year 2020 and is assessed to retain its market spot during the estimated time. The growing population and demand for various crop products have led to an increase in land purchases. The government is also initiating new ideas for enhancing the market growth in the APAC region.
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For this study, Reports and Data has segmented the global agricultural pumps market based on Type, Power Source, End-use, Horsepower, and Region:
Based On Type: (Revenue, USD billion, 2021 – 2028)
- Axial flow
- Mixed flow
- Centrifugal pumps
Positive displacement pumps
- Reciprocating pumps
- Rotary pumps
Based On Power Source: (Revenue, USD billion, 2021 – 2028)
- Electricity grid-connection
Based On End-use: (Revenue, USD billion, 2021 – 2028)
- Livestock watering
- Agricultural machinery
Based On HP: (Revenue, USD billion, 2021 – 2028)
Based On Region: (Revenue, USD billion, 2021 – 2028)
- North America
- Asia Pacific
- South America
- Middle East and Africa
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The research provides answers to the following key questions:
- What will be the market size and growth rate of the Agricultural Pumps market for the forecast period 2021-2028 across different regions?
- What are the key driving forces expected to shape the future of the industry worldwide?
- What strategies are the prominent vendors adapting to stay ahead of their competitors?
- Which major trends are impacting the development of the Agricultural Pumps Market Worldwide?
- Which factors can hinder, challenge or even restrict the expansion of the Agricultural Pumps market worldwide?
- What are the opportunities or future prospect for the business owners operating in the market for the forecast period, 2021 – 2028?
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