DUBLIN--(BUSINESS WIRE)--The "Global Agricultural Pumps Market 2017-2021" report has been added to ResearchAndMarkets.com's offering.
Global agricultural pumps market to grow at a CAGR of 4.71% during the period 2017-2021.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Increased adoption of solar pumps. With growing population, most countries are facing the problem of inadequate supply of electricity, due to which farmers have started relying on solar pumps to carry out their daily operations in farmlands. The benefit of using solar pumps is that they make the use of photovoltaic cells to generate electricity and are mainly used in the agricultural sector for irrigation purposes. Countries such as Bangladesh, India, and especially those in APAC, are facing the problem of inadequate supply of electricity. This has led to the use of diesel-powered generators, which are not considered as an economical option. These countries can be seen as potential markets for solar pumps for irrigation purposes. Apart from this, countries in South America and Africa are the other prominent markets for solar pumps.
According to the report, one of the major drivers for this market is Development of 3D printed impellers. The global agricultural pumps market has been experiencing a lot of technological development, which has helped vendors enhance their product offerings. The development of the 3D printed impellers has revolutionized the agricultural industry. Various modeling software is being used by the vendors to design impellers and other components. Modeling software also helps to reduce the cost of product testing. 3D printed impellers have relatively better performance than conventional impellers. The increased use of 3D printing for manufacturing impellers has brought a reduction in fabrication cost, thus making impellers relatively affordable for manufacturers of agricultural pumps. There has been a significant improvement in the precision of 3D printing, which has made it more useful in product testing and designing.
Further, the report states that one of the major factors hindering the growth of this market is Volatility in raw material prices. Many prominent vendors seek long-term contracts with their supplier to stay immune from fluctuations in raw material costs. This strategy may not be feasible for small vendors, as they lack sufficient financial resources. Factors that influence the cost of raw materials include inflation, production, and availability.
Key Vendors
- Flowserve
- Grundfos
- KSB
- Sulzer
- Wilo
Other Prominent Vendors
- Cornell Pump Company
- Zhejiang Doyin Pump Industry
- Ebara Pump
- Franklin Electric
- Junhe Pumps
- Kaiquan Pump
- Haicheng Suprasuny Pump
- Xylem
- Atlas Copco
- General Electric
- Halliburton Company
- ITT Goulds Pumps
- Toyo Denki Seizo
- Walrus Pump
- Tsurumi Manufacturing
- The Gorman-Rupp Company
Key Topics Covered
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation by Product
Part 09: Regional Landscape
Part 10: Decision Framework
Part 11: Drivers and Challenges
Part 12: Market Trends
Part 13: Vendor Landscape
Part 14: Vendor Landscape
For more information about this report visit https://www.researchandmarkets.com/research/qd8csn/global?w=4
