Luton, Bedfordshire, United Kingdom, July 01, 2024 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Irrigation Pumps Market.
The global irrigation pumps market is anticipated to grow from USD 161.61 Billion in 2023 to USD 257.3 Billion by 2030, at a CAGR of 6.87% during the forecast period.
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Irrigation Pumps Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
A pump is the most important part of an irrigation system. To make an irrigation system as efficient as possible, the pump must be selected to match the requirements of the water source, the water distribution system, and the irrigation equipment. Pumps used for irrigation include centrifugal, Vortex, and submersible pumps.
Agriculture plays an important role in most developing countries. For instance, the Government of India is formulating policies and initiatives that would help in increasing agriculture production along with sustainable development.
Competitive Landscape:
The competitive landscape of the Irrigation Pumps market was dynamic, with several prominent companies competing to provide innovative and advanced Irrigation Pumps. Berkeley, Grundfos, KSB Group, Burcam, GARDENA, Myers, Alfred Kärcher SE & Co. KG, Davey, Pentair Ltd, Star Water Systems, Franklin Electric, Tuhorse Pumps, Pacer Pumps, Pentair, Zoeller, Ace Pump Corporation, Shimge Pump, Zoomlion Heavy Machinery, Euromacchine, ITC.
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Recent Developments
28 October 2021 – Grundfos has introduced its LC232 Controller, a new groundwater pump controller which will help to advance smart agriculture in four markets in the Asia Pacific region – Indonesia, Thailand, Australia, and New Zealand. The LC232 Controller utilises smart technology to bring ease of use, monitoring capabilities, and greater connectivity for growers and cattle producers.
04 January 2024 – Franklin Electric Co., Inc. (NASDAQ: FELE) announced that on December 31, 2023, its wholly owned subsidiary Headwater Companies, LLC acquired substantially all of the assets of LCA Pump, LLC, a Missouri limited liability company, which operates Water Works Pump. Water Works is a professional groundwater distributor located in Springfield, MO, and will operate as a branch of Headwater Wholesale, LLC, a subsidiary of Headwater Companies.
Report Scope:
| ATTRIBUTE | DETAILS |
| Study period | 2020-2030 |
| Base year | 2023 |
| Estimated year | 2024 |
| Forecasted year | 2023-2030 |
| Historical period | 2019-2023 |
| Unit | Value (USD Billion) (Thousand Units) |
| Segmentation | By Type, By Application, and By Region |
| By Type | Submersible Pumps |
| Centrifugal Pumps | |
| Rotary Pumps | |
| Other Types | |
| By Application | Farmland |
| Garden | |
| Others | |
| North America | |
| By Region | Asia Pacific |
| Europe | |
| South America | |
| Middle East Asia & Africa |
Market Dynamics
In order to improve agricultural output, the growing global population is pushing up food demand, necessitating the use of effective irrigation systems and pumps.
The growing world population is one of the main factors contributing to the rise in food consumption, which puts significant pressure on agricultural systems to raise production. Effective irrigation systems and pumps are vital to supply this growing demand for food. Sustaining crop development and maintaining ideal soil moisture levels need efficient irrigation, especially in areas that are vulnerable to water scarcity or unpredictable rainfall patterns. To increase agricultural productivity, farmers must implement cutting-edge irrigation technologies, such as precise systems and dependable pumps. It becomes essential to use efficient irrigation techniques in order to reduce the effects of climatic unpredictability and guarantee steady harvests. Agricultural methods are changing in response to the expanding population and implementing advanced irrigation pumps becomes strategically necessary.
Restraint
For small and resource-constrained farms, the initial expense of purchasing and installing irrigation pumps—especially contemporary, effective models—can be a major obstacle.
For small farms with limited resources, the upfront cost of purchasing and installing irrigation pumps—especially contemporary, efficient models—is a major barrier. Since these farms frequently have a small operating budget, the initial cost of implementing cutting-edge irrigation equipment is high. In addition to the cost of the pumps, the price also covers the installation of related plumbing, fittings, and energy supply systems. Small-scale farmers are unable to take advantage of the increased productivity and improved water efficiency provided by modern pump technologies because of this cost barrier, which impedes the adoption of effective irrigation systems. Targeted financial assistance, subsidies, or creative financing methods that increase the affordability of sophisticated irrigation pumps for smaller farms are required to solve this issue.
On the basis of geography
With a sizable 38% of the irrigation pump market, North America continues to lead the industry. Large tracts of farmland, sophisticated agricultural methods, and a high level of mechanization are the reasons for this regional dominance. The region’s leadership is further enhanced by the use of precision agriculture technology and an emphasis on water-efficient irrigation.
In addition, to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
We have also focused on technological lead, profitability, company size, company valuation in relation to the industry and analysis of products and applications in relation to market growth and market share.
We Offer Customization on Report Based on Specific Client Requirement:
- Free Country Level analysis for any +5 countries of your choice.
- Free Competitive analysis of any +5 key market players.
- Free +40 analyst hours to cover any other data point.
About Exactitude Consultancy
Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.
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