|
Forecast Period
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2024-2028
|
|
Market Size (2022)
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USD 952.31 Million
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CAGR (2023-2028)
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7.34%
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Fastest Growing Segment
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Centrifugal
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Largest Market
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China
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Market Overview
Asia-Pacific Agriculture
Pumps Market has valued at USD 952.31 Million in
2022 and is anticipated to project impressive growth in the forecast period
with a CAGR of 7.34% through 2028. Agriculture
pumps are integral components in farming operations, designed to transport
water from one location to another. They play a crucial role in irrigation
systems, ensuring an adequate and regular supply of water to crops,
particularly in areas where rainfall is inconsistent or insufficient. Types of
agriculture pumps include centrifugal, submersible, and turbine pumps, each
with unique features and applications.
The Agriculture Pumps market represents
the global demand, supply, and trends associated with these essential farming
tools. Market dynamics include the competitive landscape, key players, and
their market shares, market size and growth trends, and factors influencing
these trends such as technological innovation, changing farming practices, and
environmental concerns. It also encompasses different types of pumps and their
specific market performance, offering insights into consumer preferences and
potential opportunities for growth. Importantly, this market operates within
the broader context of the agricultural equipment industry, significantly
impacted by factors such as governmental agricultural policies, climatic
conditions, and global food demand.
Key Market Drivers
Increasing
Adoption of Precision Farming Techniques
The increasing adoption of precision
farming techniques in the Asia-Pacific region is expected to significantly
drive the demand for agriculture pumps. Precision farming is a modern farming
practice that uses advanced technologies to enable efficient and controlled use
of resources, enhancing productivity and sustainability. Agricultural pumps, a
critical component of this system, are used for irrigation, fertigation, and
chemigation, serving as the heart of the water distribution process. The
precise control of water and nutrients offered by these pumps optimizes crop
health and yield. As awareness of precision farming techniques grows across the
Asia-Pacific, so too does the demand for advanced and efficient agricultural
pumps. This surge in demand is further propelled by government initiatives
promoting sustainable farming practices, tech advancements in pump design and
functionality, and the undeniable need to maximize agricultural yields to meet
the food needs of the rapidly increasing population. In light of these factors,
it's clear that the Asia-Pacific region will see a significant rise in demand
for agriculture pumps, driven largely by the adoption of precision farming
techniques.
Increasing
Prevalence of Small-Scale Farming
The rising prevalence of small-scale
farming in the Asia-Pacific region is anticipated to drive the demand for
agricultural pumps. As small-scale farming often has limited access to natural
water sources, pumps become essential for irrigation and maintaining optimal
crop health. Additionally, the Asia-Pacific region is home to a considerable
portion of the global population, leading to an ever-increasing demand for
food. Small-scale farmers are compelled to maximize their yield within confined
spaces, and agricultural pumps play a crucial role in achieving this objective
by providing efficient water management. The push for sustainable and
self-sufficient farming practices also contributes to the surge in the demand
for these pumps. Governments in the region are providing subsidies and
incentives for farmers to adopt modern farming techniques, which often involve
the use of agricultural pumps. Hence, the escalating trend of small-scale farming
combined with supportive policies is expected to further fuel the market growth
of agricultural pumps in the Asia-Pacific region.
Advancements
in Pump Technology & Their Increasing Efficiency
The advancements in pump technology and
their increasing efficiency are expected to drive the demand for agricultural
pumps in the Asia-Pacific region. Innovations like solar-powered pumps and
smart irrigation systems are making the farming process more economical and
sustainable, particularly in regions where energy resources are limited. The
high efficiency of these technologically advanced pumps reduces the energy
consumption and operational cost, making them a favorable choice for farmers.
In addition, the emphasis on water conservation and sustainable agriculture
practices is further pushing the adoption of these advanced pumps. The
Asia-Pacific region, with its extensive agricultural activities and growing
focus on modern farming techniques, is set for significant growth in the
agricultural pump market. Countries like China and India, with their massive
farming sectors and governmental support towards modernization of farming
infrastructure, are expected to be at the forefront of this demand surge. As
technology continues to evolve and become more accessible, the agricultural
sector in the Asia-Pacific region is likely to see an increased adoption of
efficient and innovative pump systems.
Expansion
of Agricultural Operations Due to Economic Growth
The Asia-Pacific region is currently
witnessing an unprecedented economic growth, which has led to extensive
expansion in agricultural operations. As economies flourish and populations
expand, the demand for food increases significantly, necessitating larger scale
agricultural activities. Consequently, this situation creates a burgeoning
demand for agricultural pumps. These vital pieces of equipment serve as the
lifeblood of farming, providing essential irrigation to crops and facilitating
optimal agricultural productivity. Particularly in areas with inconsistent
rainfall, agricultural pumps enable farmers to maintain a reliable water
supply, ensuring the health and growth of their crops. In addition, the
economic prosperity in the Asia-Pacific region has provided farmers with
greater access to resources and technology, including agricultural pumps.
Governments are investing heavily in agricultural infrastructure and offering
subsidies for the purchase of farming equipment, further driving the demand for
these pumps. Moreover, the shift towards mechanization and modern farming
techniques is another significant factor contributing to this increased demand.
Thus, the economic growth in the Asia-Pacific region is expected to continue
fueling the demand for agricultural pumps, promoting not only enhanced
agricultural productivity but also the overall growth and development of the
region.
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Key Market Challenges
Lack
of Technical Knowledge Among Farmers
The farming industry in the Asia-Pacific
region is experiencing a downturn in the demand for agricultural pumps,
primarily due to a deficit in technical knowledge among farmers. The majority
of farmers in this region still adhere to traditional farming methods, with a
limited understanding of how to operate and maintain modern agricultural
equipment such as pumps. These intricate machines, while incredibly efficient,
require a certain level of technical know-how for effective usage. Their
complexity often deters farmers who lack this technical proficiency, thereby
reducing overall demand. Furthermore, without the necessary skills to perform
regular maintenance and troubleshoot common issues, these pumps can quickly
become costly burdens rather than helpful tools. This issue is exacerbated in
rural areas with limited access to technical support or training programs. As a
result, despite the undeniable efficiency and potential yield increase offered
by these pumps, the lack of technical knowledge among farmers is projected to
continue decreasing the demand for agricultural pumps in the Asia-Pacific
region.
High
Initial Investment
High initial investment for agricultural
pumps is anticipated to curtail demand in the Asia-Pacific region
significantly. The majority of farmers in this region are small-scale operators
who face financial constraints. For these farmers, the substantial initial
outlay required for agricultural pumps is often prohibitive. Unlike in
developed countries, where government subsidies or easy access to credit can
offset such initial costs, the situation is far more challenging in many
Asia-Pacific countries. There, farmers typically lack access to affordable
financing options, leading to underinvestment in potentially
productivity-enhancing technologies such as agricultural pumps. Furthermore,
the perception of risk associated with such a substantial initial
investment—driven by uncertainties around crop yields, market prices, and
potential equipment failure—also contributes to this disinclination. While the
long-term benefits of using agricultural pumps, including more reliable
irrigation and higher crop yields, are generally understood, the steep initial
cost remains a significant barrier. Therefore, unless there are interventions
to make these technologies more affordable, high initial investment costs are
likely to continue suppressing the adoption of agricultural pumps across the
Asia-Pacific region.
Key Market Trends
Increase
in Investments in The Agriculture Sector
As Asia-Pacific continues to experience
significant economic growth, its agricultural sector has increasingly become a
magnet for investments. This surge in capital allocation is, in large part, due
to the region's vast potential in agricultural production, heightened by a
burgeoning population with increasing food demands. With larger investments
coming into play, the purchase and use of agricultural pumps are anticipated to
rise dramatically. These pumps are crucial in irrigation systems, helping to
ensure the consistent supply of water necessary for crop growth. Moreover, they
are essential in areas where water resources are scarce, enabling farmers to
use water more efficiently and sustainably. As the Asia-Pacific region grapples
with the impacts of climate change, including unpredictable rainfall and prolonged
droughts, the demand for reliable and efficient watering systems will only
escalate. Therefore, as more investments pour into the region's agriculture
sector, the demand for agricultural pumps is expected to follow suit, paving
the way for an upsurge in the agriculture pumps market in Asia-Pacific.
Expansion
of Agriculture-Related Infrastructure
The Asia-Pacific region, with its vast
agricultural sectors, is witnessing a substantial increase in demand for
agriculture pumps. This is largely due to the ongoing expansion of
agriculture-related infrastructure across the region. Numerous countries are
investing heavily in irrigation systems, storage facilities, and transportation
networks to support their burgeoning agricultural sectors. High-quality agriculture
pumps are integral to these infrastructures, facilitating efficient water
management for irrigation and ensuring a consistent water supply for crops. The
agricultural sectors in emerging economies, such as China, India, and Southeast
Asian countries, are particularly driving this demand due to their rapid
expansion and development. As these nations work towards achieving food
security and self-sufficiency, the need for effective irrigation and water
management solutions, such as agriculture pumps, is growing. Moreover,
government initiatives promoting sustainable farming practices are further
escalating the demand for these pumps. These factors, combined with
technological advancements in pump technology and the availability of
affordable and energy-efficient models, are projected to significantly boost
the agriculture pump market in the Asia-Pacific region.
Segmental Insights
Type Insights
Based on the type, In the APAC
Agriculture Pumps Market, the Centrifugal type within the Rotodynamic pumps category
is currently dominating. This is largely due to their high efficiency, ease of
maintenance, and capability to handle large volumes of liquids, making them an
optimal choice for irrigation purposes in large agricultural fields. The
Centrifugal pumps operate using the principle of centrifugal force, which
allows them to efficiently move water and other fluids. Their design enables
them to handle a wide range of flow rates and pressures, making them versatile
for various agricultural applications. Furthermore, the Centrifugal pumps are
equipped with robust construction and durable materials, ensuring long-term
reliability even in harsh operating conditions. Their low maintenance
requirements and simple design make them cost-effective solutions for farmers
and agricultural businesses.
With their ability to handle large
volumes of liquids, Centrifugal pumps contribute to improving irrigation
practices by efficiently distributing water to crops, promoting optimal growth
and yield. Their widespread use in large agricultural fields in the APAC region
is a testament to their effectiveness and reliability. In conclusion, the
dominance of Centrifugal pumps in the APAC Agriculture Pumps Market is
justified by their high efficiency, ease of maintenance, and capability to
handle large volumes of liquids. With their versatile and reliable performance,
they continue to be the preferred choice for irrigation purposes in large
agricultural fields, contributing to sustainable and efficient farming
practices.
Material Type Insights
Based on the Material Type, Stainless
Steel material, renowned for its dominant position in various industries,
continues to uphold its supremacy. This remarkable material's excellence lies
in its unrivalled corrosion resistance, exceptional durability, and remarkable
strength, making it highly suitable for a wide range of agricultural
applications.
Furthermore, stainless steel pumps
demonstrate exceptional resilience even in the face of harsh weather
conditions, ensuring their longevity outperforms pumps made from alternative
materials. The APAC region, known for its reliance on reliable and long-lasting
equipment, embraces stainless steel pumps as the preferred choice among
farmers. With its proven track record of reliability and extended lifespan, it
comes as no surprise that stainless steel pumps have gained the trust and
preference of many farmers in the APAC region.
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Country Insights
In the Asia-Pacific region, China is currently leading the Agriculture
Pumps Market. The dominance can be attributed to the country's vast
agricultural sector, which includes a diverse range of crops and livestock.
Additionally, the government has been actively promoting and encouraging modern
farming techniques, such as precision agriculture and smart irrigation systems,
to improve productivity and efficiency. Furthermore, China's continuous
investment in agricultural infrastructure, including irrigation networks and
water resource management, has further solidified its position as the leader in
the Asia-Pacific Agriculture Pumps Market. With these factors in play, it is
expected that China will maintain its leading position in the foreseeable
future, driving advancements and innovations in the agricultural sector throughout
the region.
Recent Developments
- October 2021 - Grundfos unveiled the
LC232 Controller, a groundbreaking groundwater pump controller set to
revolutionize smart agriculture in the Asia Pacific region, specifically
Indonesia, Thailand, Australia, and New Zealand. Leveraging smart technology,
this innovative solution offers user-friendly operation, advanced monitoring
capabilities, and enhanced connectivity for growers and cattle producers.
- November 2021 - Atlas Copco successfully
concluded the acquisition of HHV Pumps, an India-based company renowned for
designing and manufacturing top-notch vacuum pumps and systems. With
applications spanning various industries, including chemical, pharmaceutical,
and electrical power equipment, this strategic move strengthens Atlas Copco's
portfolio and market position.
Key Market Players
- Grundfos AS
- Lindsay Corporation
- Valmont Industries Inc.
- Kirloskar Brothers Ltd.
- 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.
|
By Type
|
By Material Type
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By Power Source
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By Horsepower
|
By Head Size
|
By End User
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By Country
|
|
- Rotodynamic Pumps
- Centrifugal
- Mixed Flow
- Axial Flow
- Positive Displacement
- Reciprocating
- Rotary
|
- Iron
- Bronze
- Aluminum
- Stainless Steel
- Other
|
- Electricity Grid-Connection
- Diesel/Petrol
- Solar
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- 0.5 TO 3
- 4 TO 15
- 16 TO 30
- 31 TO 40
- >40 HP
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- Up to 1 meter
- 1-3 meter
- 3-6 meter
- 6-10 meter
- 10-15 meter
- Above 15 meter
|
- Irrigation
- Livestock Watering
|
- China
- Japan
- Australia
- Thailand
- India
- Indonesia
- South Korea
- Singapore
- Malaysia
- Vietnam
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Report
Scope:
In this report, the Asia-Pacific
Agriculture Pumps Market has been
segmented into the following categories, in addition to the industry trends
which have also been detailed below:
·
Asia-Pacific Agriculture Pumps Market, By Type:
o Rotodynamic
Pumps
o Centrifugal
o Mixed
Flow
o Axial
Flow
o Positive
Displacement
o Reciprocating
o Rotary
·
Asia-Pacific Agriculture Pumps Market, By Material Type:
o Iron
o Bronze
o Aluminium
o Stainless
Steel
o Other
·
Asia-Pacific Agriculture Pumps Market, By Power Source:
o Electricity
Grid-Connection
o Diesel/Petrol
o Solar
·
Asia-Pacific Agriculture Pumps Market, By Horsepower:
o 0.5 TO 3
o 4 TO 15
o 16 TO 30
o 31 TO 40
o >40
HP)
·
Asia-Pacific Agriculture Pumps Market, By Head Size:
o Up to 1
meter
o 1-3 meter
o 3-6 meter
o 6-10
meter
o 10-15
meter
o Above 15
meter
·
Asia-Pacific Agriculture Pumps Market, By End User:
o Irrigation
o Livestock
Watering
·
Asia-Pacific Agriculture Pumps Market, By Country:
o China
o Japan
o Australia
o Thailand
o India
o Indonesia
o South Korea
o Singapore
o Malaysia
o Vietnam
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in the Asia-Pacific Agriculture Pumps
Market.
Available Customizations:
Asia-Pacific Agriculture Pumps Market report
with the given market data, TechSci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Asia-Pacific Agriculture Pumps Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]