Irrigation Pumps Market Size (2024 - 2029)

The irrigation pumps market is projected to experience significant growth over the forecast period, driven by the increasing demand for efficient irrigation systems. As global agricultural practices evolve, the need for reliable and cost-effective pumps, particularly in regions with fragmented landholdings, is becoming more critical. The market's expansion is supported by smoother import and export processes and a gradual return to normalcy post-pandemic. Additionally, the shift towards electric pumps, especially in areas with subsidized energy rates, is expected to enhance market dynamics. Concerns about food sustainability and the need to boost crop production further underscore the importance of irrigation pumps in agricultural development.

Market Size of Irrigation Pumps Industry

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Irrigation Pumps Market Size
Study Period 2019 - 2029
Market Size (2024) USD 141.67 Billion
Market Size (2029) USD 203.40 Billion
CAGR (2024 - 2029) 7.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia-Pacific

Major Players

Irrigation Pumps Market Key Players

*Disclaimer: Major Players sorted in no particular order

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Irrigation Pumps Market Analysis

The Irrigation Pumps Market size is estimated at USD 141.67 billion in 2024, and is expected to reach USD 203.40 billion by 2029, growing at a CAGR of 7.5% during the forecast period (2024-2029).

As the situation is slowly moving back to normal, there is less impact expected on the precision irrigation systems market compared to 2020. Also, imports and exports have become smoother over the past few months, which is a good sign for the recovery of the market. However, COVID-19 persists in some parts of the world, and there is a chance of the pandemic recurring due to migration from other countries.

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. Many developing markets, such as South America, the Middle East, and Africa, rely on traditional energy sources like oil, gas, and coal to power pumps. The market for energy grid connections is higher in places such as Asia-Pacific, Europe, and North America, because it is offered at a subsidized rate to farmers. Electric pumps are more efficient and cost-effective. Pumps used in agriculture vary in size depending on the depth of the land from which water must be drawn or the distance from water sources such as reservoirs, rivers, lakes, and dams. Due to its widespread use in irrigation activities on small and medium-sized landholdings, the most common type of agricultural pump is in the 4hp -15hp range. Because the majority of accessible land in the agricultural industry is fragmented, using pumps in this range is both convenient and cost-effective.

According to the FAO, there are three main sources of growth in crop production: expanding the land area, increasing the frequency with which it is cropped (often through irrigation), and boosting yields. Increasing concern about food sustainability, given the continuous population hike across the globe, is likely to keep the demand for integral parts of an irrigation system high in the forecast period.

Irrigation Pumps Industry Segmentation

The irrigation pumps are used in various capacities and for purposes, including agricultural lands, lawns, gardens, and turfs. The irrigation pumps market is segmented by type (submersible pump, vortex pump, centrifugal pump, and other types) and geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa). The report offers market estimation and forecast in value (USD million) for the above-mentioned segments.

Type
Submersible Pump
Vortex Pump
Centrifugal Pump
Other Types
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest od South America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Rest of Middle-East and Africa
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Irrigation Pumps Market Size Summary

The irrigation pumps market is poised for significant growth over the forecast period, driven by the increasing demand for efficient irrigation systems to support agricultural productivity. As global populations continue to rise, the need for sustainable food production methods has become paramount, leading to a heightened focus on irrigation solutions. The market is characterized by the use of various pump types, including centrifugal, vortex, and submersible pumps, which are essential for optimizing water distribution in agricultural settings. Regions such as Asia-Pacific, Europe, and North America benefit from subsidized energy grid connections, enhancing the cost-effectiveness of electric pumps. In contrast, developing markets in South America, the Middle East, and Africa still rely heavily on traditional energy sources. The adoption of solar-powered irrigation systems, particularly in countries like India, is gaining traction due to government subsidies and initiatives aimed at promoting sustainable agricultural practices.

The market landscape is consolidated, with major players like Valmont Industries, Xylem Inc., Shakti Pumps Ltd, Jain Irrigation Systems, and Lindsay Corporation dominating the scene. These companies are actively investing in research and development to innovate and reduce costs, ensuring their competitive edge. Government initiatives, such as India's Pradhan-Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyaan scheme, have significantly contributed to the market's expansion by facilitating the installation of solar-powered irrigation pumps. The Asia-Pacific region, particularly China and India, plays a crucial role in the market's growth due to the availability of fertile land and advancements in farming practices. As the demand for efficient irrigation systems continues to rise, the irrigation pumps market is expected to experience robust growth, supported by technological advancements and favorable government policies.

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Irrigation Pumps Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Submersible Pump

      2. 2.1.2 Vortex Pump

      3. 2.1.3 Centrifugal Pump

      4. 2.1.4 Other Types

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

        3. 2.2.1.3 Mexico

        4. 2.2.1.4 Rest of North America

      2. 2.2.2 Europe

        1. 2.2.2.1 Germany

        2. 2.2.2.2 United Kingdom

        3. 2.2.2.3 France

        4. 2.2.2.4 Russia

        5. 2.2.2.5 Spain

        6. 2.2.2.6 Rest of Europe

      3. 2.2.3 Asia-Pacific

        1. 2.2.3.1 India

        2. 2.2.3.2 China

        3. 2.2.3.3 Japan

        4. 2.2.3.4 Rest of Asia-Pacific

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Rest od South America

      5. 2.2.5 Middle-East and Africa

        1. 2.2.5.1 United Arab Emirates

        2. 2.2.5.2 Saudi Arabia

        3. 2.2.5.3 Rest of Middle-East and Africa

Irrigation Pumps Market Size FAQs

The Irrigation Pumps Market size is expected to reach USD 141.67 billion in 2024 and grow at a CAGR of 7.5% to reach USD 203.40 billion by 2029.

In 2024, the Irrigation Pumps Market size is expected to reach USD 141.67 billion.

Irrigation Pumps Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)