The global agricultural pumps market size is estimated to be valued USD 4.2 billion in 2020. It is projected to reach a value of USD 6.1 billion by 2025, growing at a CAGR of 7.6% during the forecast period. Factors such as increasing land being brought under irrigation, government support in the adoption of modern agricultural equipment, and the advent of big data in agricultural farms are some of the factors that are driving the growth of the market.
Key players in the agricultural pumps market include Xylem Inc. (US), Grundfos (Denmark), Kirloskar Brothers Limited (India), KSB SE (Germany), Valmont Industries (US), Jain Irrigation Systems (India), Franklin Electric (US), WILO (Germany), Shakti Pumps Ltd (India) and Shimge Pump Industry Group Co., Ltd (China). Acquisitions and product launches were the core strengths of the leading players in the agricultural pump market. This strategy was adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios.
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Grundfos is a leading pump manufacturer based in Denmark. The company produces circulator pumps, submersible pumps, and centrifugal pumps running on electric motors. It contributes to global sustainability by pioneering technologies that improve the quality of life for people. Globally, the company is one of the leading pump manufacturers, with an annual production of more than 17 million pump units. The company’s main products include circulator pumps for heating and air-conditioning as well as other centrifugal pumps for the agriculture industry, water supply, sewage, and dosing. The company has a strong presence in Europe, the Middle East, and Australia. The company has launched intelligent pump solutions that cater to the agricultural and oil mining sectors.
Xylem Inc (US)
The company is a leading water technology provider, enabling customers worldwide to transport, treat, test, and efficiently use water in agricultural, residential, commercial, industrial units, and public utility. The company is committed to “solving water” and does business in more than 150 countries. In a world of ever-growing challenges, the company delivers innovative water technology solutions throughout the cycle of water. The products and services are focused on three areas, namely water infrastructure, applied water, and measurement and control systems. The business serves as clean water delivery, wastewater transport and treatment, de-watering, and analytical instrumentation. The pumps are used for the supply of water in residential and commercial building services companies, as well as industrial and agricultural applications.
Franklin Electric (US)
Franklin Electric is a global leader in the manufacturing and distribution of products and systems focused on the movement and management of water and fuel. The company offers water systems and fueling systems. The company provides these in a variety of residential, commercial, agricultural, industrial, and municipal applications. The water pumping systems of the company move fresh and wastewater for the residential, agriculture, and other industrial end-markets. Franklin Electric also sells various groundwater equipment products to well installation contractors, including water pumping systems, through its distribution branches located in the US. With a growing global footprint, the company has also evolved into a top supplier of submersible fueling systems at gas stations, making pumps, pipes, electronic controls, and monitoring devices.
Agricultural Pump Market by Type (Rotodynamic Pumps, Positive Displacement Pumps), Power Source (Electricity-grid Connection, Diesel/Petrol, Solar), HP, End-Use (Irrigation, Livestock Watering), and Region – Global Forecast to 2025
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