Rising Demand from the Irrigation Sector to Drive the Agricultural Pumps Market

The global agricultural pumps market size is estimated to grow from USD 4.2 billion in 2020 and is projected to reach USD 6.1 billion by 2025, at a CAGR of 7.6% during the forecast. The increasing adoption of modern techniques of irrigation in developing countries, the advent of big data in agricultural farms, and the increase in government support toward the adoption of modern agricultural equipment are some of the factors driving the growth of the market.

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The agricultural pumps market, by end-use, has been segmented into irrigation and livestock watering. The agricultural sector makes use of pumps, majorly for application in irrigation. With the growing area being brought under irrigation, the market for pumps for use in irrigation is growing. With the meat consumption growth across the regions, the need for agriculture pumps in the livestock watering sector is also growing.

With the increasing population and subsequent rise in demand for food, there has been an increase in the land area being brought under irrigation due to which a complementary demand pattern can be witnessed for agricultural pumps. The major portion of the water withdrawals made across the globe caters to the agricultural sector, and within the agricultural sector, it is used for irrigation purposes.

The agricultural sector makes use of pumps varying in the range based on the depth of area from which the water has to be sourced or the distance from water sources, such as reservoirs, rivers, lakes, and dams. The most used type of agricultural pumps is in the range of 4hp -15hp due to its widespread application in irrigation activities of small and medium-sized landholdings. Since, in the agricultural sector, most of the available land is fragmented, it is convenient and cost-effective to make use of pumps of this range.

Key participants in the global market include Grundfos (Denmark), Xylem Inc (US), KSB SE & Co. (Germany), Flowserve Corporation (US), Lindsay Corporation (US), Valmont Industries (US), and Jain Irrigation Systems (India). These companies are focused on strategies such as acquisitions and new product launches to cater to the growing demand for intelligent pump systems in the agricultural sector. The market for agricultural pumps for the study has been segmented by type, end-use, hp, and power source.


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