Surgical Scissors Market Forecasts to 2028 – Global Analysis By System Type (Disposable and Reusable), Model (Fine Serrated Blade, Light weight-delicate, Operating, Other Models), Material (Tungsten, Ceramic, Steel, Other Materials), Application and By Geography
According to Stratistics MRC, the Global Irrigation Pumps Market is accounted for $12.3 billion in 2022 and is expected to reach $21.5 billion by 2028 growing at a CAGR of 9.8% during the forecast period. Irrigation pumps are used to transfer water from one location to another by generating an appropriate pressure head. The water then flows into the agricultural fields via the channels. Farmers use irrigation pumps to help them achieve a higher crop yield. Irrigation pumps come in centrifugal, rotary and submersible varieties. Growth and expansion of the agricultural industry, particularly in developing economies as well as increased government support for the agricultural sector and surging globalization will also carve the way for the growth of the market.
According to Food and Agriculture Organization (FAO), there are three main sources of crop production growth: increasing land area, increasing crop frequency (often through irrigation), and increasing yields. Growing concern about food sustainability, combined with global population growth is expected to keep demand for irrigation components high during the forecast period.
Market Dynamics:
Driver:
Adoption of Irrigation Systems
Agriculture is crucial in majority of developing countries. For instance, the Government of India is developing policies and initiatives to increase agricultural production while also promoting sustainable development. The availability of substantial subsidies and schemes (JNNSM, KUSUM, and so on) for the adoption of pumps has increased their affordability. Countries such as China and India have benefited from government subsidies to increase the area under irrigation. Cropping intensities and yields are consistently greater in irrigated areas than in rain-fed areas. As a result, the demand for an efficient irrigation system is expanding by the day, and it is expected to drive the Irrigation pumps market during the forecast period.
Restraint:
High Cost of Installation and Repairs
High investment and maintenance costs associated with such agricultural equipment will pose a significant challenge to the market's growth. Furthermore, wind can destroy sprinklers, causing water to be directed in the wrong direction. Underground pests can cause damage to water-delivery systems, resulting in water pooling or broken parts. Repairing an irrigation system can be far more expensive than replacing a broken garden hose. As a result, the high cost of installation, repairs and low availability of spare parts may limit market growth.
Opportunity:
Growing Demand from emerging markets
Countries such as China and India have benefited from government subsidies to increase the area under irrigation. It is estimated that developing countries have a total irrigation potential of 402 million hectares, of which half is currently in use. Cropping intensities and yields are significantly greater in irrigated lands than in rain-fed areas. As a result, the demand for an efficient irrigation system is increasing by the day and is expected to drive the Irrigation pumps market at a rapid pace.
Threat:
Waterlogging and Salinization
On irrigated land, salinization is the leading cause of land loss for production and one of the most common negative environmental effects associated with irrigation. Quantitative measurements have been limited to the amount of land affected or abandoned. The arid and semi-arid regions, in particular, have severe salinity issues. Waterlogging is caused primarily by poor drainage and over-irrigation, and to a lesser extent, by seepage from canals and ditches. Waterlogging concentrates salts drawn up from deeper in the soil profile in the rooting zone of plants. Alkalization, or the accumulation of sodium in soils, is a particularly damaging form of salinization that is difficult to reverse. These above factors may restrain the irrigation pumps market growth.
Covid-19 Impact
COVID-19 had a devastating impact on every industry, sector, and economy. As the pandemic continues to have complex and far-reaching effects around the world, the irrigation sector is no exception. Despite difficult circumstances, irrigation agencies around the world have continued to operate. However, there have been a number of shocks affecting service delivery, including fiscal constraints, disruptions in supply chains due to travel restrictions, and labour shortages which have restrained the market growth.
The Submersible Pumps segment is expected to be the largest during the forecast period
Submersible pump market is expected to be driven by an increase in urban population and increased industrialization. Rising water concerns influence the installation of water systems, which contributes to market growth. Increased investment in infrastructure development and rapid industrialization are key factors driving market growth. Manufacturers seek cost-effective and dependable fluid lifting options in all manufacturing scenarios, which has led to an increase in the use of submersible pumps, which is driving the market.
The Rotary Pumps segment is expected to have the highest CAGR during the forecast period
The Rotary Pumps segment is expected to have the highest CAGR during the forecast period, due to their ability to pump gases and liquids without experiencing head loss. This capability makes such pumps the preferred choice for industrialists looking for long-lasting pumps with low overall costs. With the advancement of industrial operations, the demand for such a pump that can work efficiently in high differential pressure and pump high-viscosity fluids through compact designs began to gain traction.
Region with highest share:
Due to increased grain production and the need for irrigation facilities, Asia-Pacific is expected to hold the largest market share during the forecast period. The rise in agricultural land, particularly in developing economies such as India and China, the dominance, will continue during the forecast period. Growing awareness, rising personal disposable income, and increased government support are all important factors driving this region's growth.
Region with highest CAGR:
Due to the availability of fertile land and improvements in the farming process, Asia Pacific is expected to grow at the fastest CAGR over the forecast period. Growing demand for effective and efficient irrigation and crop protection tools and techniques especially in the developing economies Agricultural technological advancements would provide lucrative growth opportunities for the Asia Pacific Irrigation Pumps market.
Key players in the market
Some of the key players profiled in the Irrigation Pumps Market include KSB SE & Co. KGaA, BurCam, Davey Water Products Pty Ltd, CNP Pumps India Pvt. Ltd, Ace Pump Corporation, Grundfos Group, Zoeller Company, Tuhorse Pumps, Leo Pumps, Franklin Electric, Shimge Pump Group, Guangdong Lingxiao Pump Industry Co. Ltd, Haicheng Suprasuny Pump Co. Ltd, Ebara Corporation and Pacer Pumps
Key Developments:
In October 2021, Grundfos introduced its LC232 Controller, a new groundwater pump controller which helps to advance smart agriculture in four markets in the Asia Pacific region – Indonesia, Thailand, Australia, and New Zealand.
In August 2019, Ace Pumps Corporation launched three new pumps featuring the company’s popular 206 motor and built-in pulse width modulated (PWM) control valves. The modulated control valves allow equipment owners and operators to implement a PWM control regimen on pull-type sprayers, planters, and fertilizer applicators.
Types Covered:
• Submersible Pumps
• Centrifugal Pumps
• Rotary Pumps
• Other Types
Applications Covered:
• Farmland
• Garden
• Other Applications
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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