The Asia Pacific region holds the major share of the worldwide Agricultural Pump market among all the regions during the outlook period of 2022 - 2027. The Asia Pacific region is having the major share of the market owing to the initiatives taken by the government towards adopting modern agricultural equipment in the area.
Coronavirus has deeply affected the global industries by directly impacting the overall manufacturing and demand, supply chain and market disruption, and its financial impact on several firms and financial markets.
The ongoing situation has become a major threat to the Agricultural Pump market. Most of the companies have already started their manufacturing units since the lockdown has lifted in so many companies with some strict regulations by the government authorities to all the industries to restart their manufacturing units.
As per the analysis, the Agricultural Pump market is supposed to have an impeccable growth rate in the Asia Pacific region in the next few years owing to the initiatives taken by the government towards adopting modern technologies, which drives the growth of the market.
Drivers and Restraints of Asia Pacific Agricultural Pump Market:
Drivers:
The upsurge in the income of farmers and growing initiatives by the government towards adopting modern agricultural equipment are some of the driving factors that propel the growth of the Agricultural Pump market in the Asia Pacific area.
Another major driving factor in the regional market is the rising adoption of modern techniques of irrigation in developing countries such as China, Japan, and India.
Restraints:
One of the major growth affecting factors in the Asia Pacific Agricultural Pump Market is the lack of technical knowledge and skills, which hinders the growth of the market in the Asia Pacific locale.
Asia Pacific Agricultural Pump Market – By Type:
rotodynamic pumps
Among these segments, the centrifugal pumps segment holds the major share of the market attributed to its wide application in pumping fluids, cooling, and aeration.
Asia Pacific Agricultural Pump Market – By Material Type:
Asia Pacific Agricultural Pump Market – By Power Source:
Among these, the solar segment holds the major share of the overall market owing to the fact that solar pumps are being provided at subsidized rates to the farmers across China and India.
Asia Pacific Agricultural Pump Market – By Horsepower:
Asia Pacific Agricultural Pump Market – By Head Size:
Asia Pacific Agricultural Pump Market – By End Users:
Regional Analysis:
The Asia Pacific region holds the major share of the market value of Agricultural Pump among the other regions due to the rising adoption of technology by the major key players especially from China and India, which is also estimated to propel the growth of the market in the Asia Pacific region.
Key Players
Some of the key players of the Asia Pacific Agricultural Pump Market are Zhejiang Doyin Pump Industry Co. Ltd, Mahindra Epc ltd., Grundfos As, Lindsay Corporation, CRI Groups, KSB SE & Co., Xylem Inc, Ebara Pumps, Valmont Industries Inc., Kirloskar Brothers Limited, Shimge Pump Industry Pvt. Ltd., Franklin Electric Company, Leo Group Pumps (Zhejiang) Co., Ltd., and CNP Pumps India Pvt. Ltd.
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