(MENAFN- GetNews) Agricultural Pumps Market Size: USD 4.21 billion in 2020, industry Growth: CAGR of 7.9%, Market Trends: Substantial investment costs and unavailability of spare parts might obstruct the market growth.
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. The several advantages of the smart pumps, such as low maintenance, high probability for automated and remote control, and minimum time consumption, are the factors driving the market demand.
Agricultural pumps are automated devices that transport material from one locality to another with appropriate set pressure. These are the most preferred pumps that the farmers are focusing on to maintain agricultural production. These are widely used to extract water from well, lakes, and reservoirs and also for crops that require excess water to grow.
To get a FREE sample PDF copy of the report @ The high costs associated with the smart pumps and uncertainty of the spare parts are the main factors that can impede the market growth of the agricultural pumps. Moreover, the unavailability of after-sale services is another restrictive factor altering the market expansion of these smart pumps.
The global industry has faced major losses due to the outburst of the coronavirus. Many industries have been shut down temporarily due to the rigid social distancing and lockdown rules. The workload has increased due to workforce limitations. Many manufactures are innovating new ideas to get things back on track.
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)
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) Rotodynamic pumps
- Market revenue shares by major business players, by type, application, and market scope of global Agricultural Pumps market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures regional analysis to provide insight into recent trends and opportunities
To know more about the report @ Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Drip Irrigation Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
Chapter 11. Company Profiles
11.1. Grundfos (Denmark)
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Benchmarking
11.1.4. Strategic Initiatives
11.2. Xylem Inc (US), KSB SE & Co. (Germany)
11.3. Flowserve Corporation
11.4. Lindsay Corporation (US)
11.5. Valmont Industries (US)
11.6. Kirloskar Brothers Limited (India)
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