Large dependency on agriculture production is expected to drive the growth of Asia Pacific agriculture pumps market
According to TechSci Research report, “Asia Pacific Agriculture Pumps Market By Type (Rotodynamic Pumps, Centrifugal, Mixed Flow, Axial Flow, Positive Displacement, Reciprocating, Rotary), By Material Type (Iron, Bronze, Aluminium, Stainless Steel and Other), By Power Source (Electricity Grid-Connection, Diesel/Petrol, Solar), By Horsepower (0.5 TO 3, 4 TO 15, 16 TO 30, 31 TO 40, >40 HP), By Head Size (Up to 1 meter, 1-3 meter, 3-6 meter, 6-10 meter, 10-15 meter, Above 15 meter), By End-Use (Irrigation, Livestock Watering), By Country, Competition, Forecast & Opportunities, 2025”, Asia Pacific agriculture pumps market is expected to witness a formidable CAGR during the forecast period. Upsurge in the income of farmers is boosting the demand for high quality of agricultural pumps, which is one of the major factors accounting for the growth of Asia Pacific agriculture pumps market. Moreover, owing to several end-use applications of pumps in the agriculture industry due to several profits and pluses is further expected to bode well for the growth of Asia Pacific agriculture pumps market through the forecast period. In addition to this, rising adoption of modern techniques of irrigation in developing countries is further projected to positively influence the growth of Asia Pacific agriculture pumps market in the years to come. Also, shift in preferences from traditional agricultural techniques towards advanced agricultural techniques, is boosting the production of agricultural pumps in the region, which is further expected to make headway for the growth of Asia Pacific agriculture pumps market over the coming years. Furthermore, there are some factors that might hamper the growth of Asia Pacific agriculture pumps market through the forecast period such as lack of technical knowledge and skills.
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Asia Pacific agriculture pumps market can be segmented based on type, material type, power source, horsepower, head size, end-use, company, and region. Based on power source, the market can be categorized into electricity grid-connection, diesel/petrol, and solar. Out of these, the solar segment dominated the market until 2019 and is expected to maintain its dominance during the forecast period as well which is accredited to the fact that solar pumps are being provided at subsidized rates to the farmers across countries in China and India. Based on type, the market can be categorized into rotodynamic pumps, centrifugal, mixed flow, axial flow, positive displacement, reciprocating, rotary. Out of which, the centrifugal pumps segment accounted for the highest market share in terms of value until 2019 which can be accredited to its wide application in in pumping fluids, cooling, and aeration. In addition to this, on account of huge investment plans by major market players, there will be high demand for centrifugal pumps in the years to come, thereby anticipated to aid the segmental growth.
Grundfos As, Lindsay Corporation, Valmont Industries Inc., Kirloskar Brothers Limited, Shimge Pump Industry Pvt. Ltd., Franklin Electric Company, Zhejiang Doyin Pump Industry Co. Ltd, Mahindra Epc ltd., Leo Group Pumps (Zhejiang) Co., Ltd., CNP Pumps India Pvt. Ltd., CRI Groups, KSB SE & Co., Xylem Inc, Ebara Pumps, are among others are the leading players operating in Asia Pacific agriculture pumps market. The players are adopting several growth strategies to enhance the market scenario of agriculture pumps. Other competitive strategies include new technological developments; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen their market position.
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“Asia Pacific agriculture pumps market is forecast to witness significant growth until 2025 on account of increasing area being brought under irrigation. Furthermore, existence of major market players in the region is further anticipated to boost the market growth for agriculture pumps over the coming years. Along with this, rising demand for agricultural pump sets in the region is further expected to contribute to the growing trend in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Asia Pacific Agriculture Pumps Market By Type (Rotodynamic Pumps, Centrifugal, Mixed Flow, Axial Flow, Positive Displacement, Reciprocating, Rotary), By Material Type (Iron, Bronze, Aluminium, Stainless Steel and Other), By Power Source (Electricity Grid-Connection, Diesel/Petrol, Solar), By Horsepower (0.5 TO 3, 4 TO 15, 16 TO 30, 31 TO 40, >40 HP), By Head Size (Up to 1 meter, 1-3 meter, 3-6 meter, 6-10 meter, 10-15 meter, Above 15 meter), By End-Use (Irrigation, Livestock Watering), By Country, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Asia Pacific agriculture pumps market and provides statistics & information on market size, structure and market growth future. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia Pacific agriculture pumps market.
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