Reports and Data has recently added a new research report titled ‘Global Farming Pumps Market Forecast to 2028’ to its wide database that offers extensive information about the Farming Pumps market with regards to market share, market size, revenue growth, global and regional reach, and product portfolio offered by the market. The report focuses on current and emerging trends in the agriculture industry such as sustainable farming, novel irrigation and air seeding technology, incorporation of GPS and satellite imagery to boost productivity of the farms, and rapid adoption of smart agriculture to offer crucial insights into technological developments and progress of the sector. Agriculture is one of the fastest growing industries worldwide attributed to growing population and surging demand for food and food products. Top companies in the market are focusing on RD activities to expand their product offerings and cater to growing global demand.
The report further offers insights into recent developments, mergers and acquisitions, product launches, supply and demand, and macro- and micro-economic factors affecting the market growth.
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Market Dynamics:
Agriculture sector is one of the most important revenue generating sector and contributes significantly to the overall economic growth of a country. Technological advancements in Farming equipment and techniques have drastically boosted output and production capacity. Rapid integration of ICT, robotics, aerial imagery and GPS techniques, and the Internet of Things, among others have radically shaped Farming sector in the recent past. Growing adoption of precision agriculture and drones have enabled farms and businesses to increase their profit margins and improve their operations to be more efficient, safer, and environmentally sustainable.
Moreover, as most of the available land is used for irrigation, there has been a surge in advanced Farming products. The increasing population worldwide and the cumulative growing demand for Farming food is boosting the market for Farming pumps.
The emphasis on using solar pumps for irrigation due to power shortages in various places is expected to increase the market growth during the projected period. The favorable government schemes for promoting modern equipment used in the Farming sector is expanding the Farming pumps market.
The coronavirus pandemic has disturbed the global industry in terms of the irregular supply of the products. The strict lockdown policies for staying home to reduce the COVID-19 virus and the limitation on the number of people working in the industry in these times has collapsed the Farming pump production and has affected the global market.
Top companies operating in the market and profiled in the report include:
Grundfos (Denmark), Xylem Inc (US), KSB SE Co. (Germany), Flowserve Corporation (US), Lindsay Corporation (US), Valmont Industries (US), and Jain Irrigation Systems (India) Kirloskar Brothers Limited (India), Shimge Pump Industry Group Co., Ltd (China).
Further, the report segments the Farming Pumps market on the basis of product types, applications, end-use industries, and technology among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
Farming Pumps Market Segmentation:
Based On Type: (Revenue, USD billion, 2021 - 2028)
Rotodynamic pumps
- Axial flow
- Mixed flow
- Centrifugal pumps
Positive displacement pumps
- Reciprocating pumps
- Rotary pumps
Based On Power Source: (Revenue, USD billion, 2021 - 2028)
- Solar
- Diesel/Petrol
- Electricity grid-connection
Based On End-use: (Revenue, USD billion, 2021 - 2028)
- Irrigation
- Livestock watering
- Farming machinery
- Others
Based On HP: (Revenue, USD billion, 2021 - 2028)
- 5-3
- 4-15
- 16-30
- 31-40
- 40
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