- Pump sets are extensively utilized in the agriculture sector to transport or draw water through pipes from various sources such as rivers, bore wells and dams, water tanks, and storage facilities. Moreover, pump sets help increase farm production. Pump sets are widely employed for irrigation of agricultural crops, which require large volumes of water.
Key Drivers of Pump Sets Market for Farm
- Growing adoption of solar pumps for irrigation purposes in developed and developing countries, due to an inadequate supply of electricity and the use of diesel powered generators, is likely to propel the pump sets market for farm across the globe. Moreover, solar pumps can also generate electricity with the use of photovoltaic cells, which can further be employed in the agricultural sector.
- Rise in the income of farmers is driving the demand for high quality of pumps, which in turn is estimated to boost the pump sets market for farm. Increase in population and major dependency on agriculture production across the globe is anticipated to boost the pump sets market for farm. Rise in rate of adoption of modern irrigation techniques across the globe and the increase in government spending toward the adoption of modern farm equipment is anticipated to further propel the pump sets market for farm across the globe.
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Asia Pacific & Europe to hold significant share of global Pump Sets Market for Farm
- Asia Pacific is projected to hold a major share of the global pump sets market for farm due to the presence of well-established and emerging players in the region. Increase in government initiatives and rise in productivity across the region is likely to propel the pump sets market for farm across Asia Pacific.
- Followed by Asia Pacific, Europe is projected to account for a significant share of the global pump sets market for farm due to an increase in the demand for farm pump sets across the region. Europe is home to major pump sets manufacturers who have advanced research & development facilities for variable speed technology, which offers energy-efficient features, is anticipated to boost the pump sets market for farm across the region.
Key Players Operating in Pump Sets Market for Farm
The global pump sets market for farm is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the pump sets market for farm are:
- Wilo SE
- The Kirloskar Group
- Falcon Pumps Pvt. Ltd.
- Sulzer Ltd.
- KSB SE & Co.
- The Flowserve Corporation
- CORNELL PUMP COMPANY
- WALRUS PUMP
- The Gorman-Rupp Company