- Agricultural pump set are extensively utilized in the agriculture sector to transport or draw water through pipes from various sources such as rivers, bore wells, and dams, water tanks, and storage facilities.
- Additionally, agricultural pump sets are used to meet the need of farmers and maintain higher agricultural production
- Agricultural pump sets are widely employed for irrigation of agricultural crops, which require large volumes of water.
Global Agriculture Pump Set Market – Dynamics
Key Drivers of Agriculture Pump Set Market
- Rising global population and large dependency on agriculture production, is one of the factor driving the demand for agricultural pump set worldwide
- Rise in adoption of solar pumps for irrigation purposes in developed and developing countries, due to inadequate supply of electricity and the use of diesel powered generators, is a major factor that is expected to fuel the global agricultural pump set market. Moreover, solar pumps can also generate electricity with the use of photovoltaic cells, which can further be employed in the agricultural sector.
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- Use of renewable energy centrifugal pumps, which can decrease the operation cost of pumps to zero, is another factor that is estimated to drive the agricultural pump set market. This in turn, is projected to propel the agricultural pump set market during the forecast period.
- Rise in the income of farmers is driving the demand for high quality of agricultural pumps, which in turn is estimated to boost the agricultural pump set market.
- North America, followed by Europe, is estimated to hold a significant share of the global agricultural pump- set market, due to the presence of well-established and emerging players in the region. This is mainly due to development in agriculture.
- Companies based in North America are developing the agriculture Pump Set market through the variable speed technology, which can offer more energy efficient features for carrying out irrigation.
- Asia Pacific (APAC) is expected to offer significant opportunities to the agriculture Pump Set market in the near future due to an increase in the demand for agricultural pump sets in the region. The increase in demand is primarily attributed to the significant economies of India, China, and Japan in the region.
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Global Agriculture Pump Set Market – Competition Landscape
The global agriculture pump set market is highly concentrated with the top manufacturers accounting for approximately 45% to 50% share of the market in 2018. Key players operating in the global agriculture Pump Set market include:
- The Kirloskar Group
- Falcon Pumps Pvt.Ltd.
- Wilo SE
- Sulzer Ltd.
- KSB SE & Co.
- The Flowserve Corporation
- CORNELL PUMP COMPANY
- WALRUS PUMP