Global Agricultural Pumps Market to Reach USD 9.5 Billion by 2034

Global Agricultural Pumps Market to reach USD 9.5 billion by 2034, driven by sustainable energy adoption, IoT integration, and growing agricultural activities

VANCOUVER, BC, CANADA, August 14, 2025 /EINPresswire.com/ -- The global Agricultural Pumps Market is set to grow from USD 5.0 billion in 2024 to USD 9.5 billion by 2034, reflecting a steady CAGR of 6.60%, according to the latest market analysis. This growth is fueled by increasing agricultural activities, rising demand for efficient water management, and the adoption of renewable energy solutions in farming.

Market Overview

The centrifugal pumps segment is expected to remain the largest in the market, valued at USD 3.0 billion in 2024 and projected to reach USD 5.5 billion by 2034, owing to their efficiency, cost-effectiveness, and suitability for irrigation and water supply. Meanwhile, solar-powered pumps are forecast to be the fastest-growing category, expanding at a CAGR of 8.5% to reach USD 2.0 billion by 2034, boosted by sustainability trends and government incentives.

Key applications include irrigation, water supply, and drainage. Irrigation leads the application segment, growing from USD 3.5 billion in 2024 to USD 6.0 billion by 2034, supported by precision farming and IoT-enabled pump adoption. Water supply applications are projected to grow at 7.0% annually, driven by livestock and crop production needs, while drainage pumps see steady growth in flood-prone areas.

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Regional Outlook

Asia Pacific is positioned as the fastest-growing region, supported by large-scale agricultural activities and government programs promoting sustainable farming. Countries like India and China are leading with renewable energy integration in irrigation systems, aided by financial incentives such as India’s KUSUM scheme.

Growth Drivers

Sustainability and technology are the core growth engines for the agricultural pump market. Solar-powered pumps are expected to grow by 15% annually, aided by renewable energy subsidies and cost savings for farmers. IoT integration is transforming pump operations, enabling real-time monitoring and reducing water waste—expected to see 20% annual growth.

Government initiatives, such as the European Union’s Green Deal and USDA-funded water conservation programs, are further encouraging the adoption of energy-efficient pumps. Product innovations are also shaping the market—Grundfos launched a new range of affordable solar-powered pumps in March 2024, targeting small and medium-sized farms.

Market Restraints

Despite the positive outlook, challenges include varying environmental regulations across regions, limited electricity access in rural areas, and the high initial cost of advanced pump systems. Infrastructure limitations in developing markets, particularly in Sub-Saharan Africa, hinder adoption, with only 60% rural electricity coverage. Cost remains a major barrier for nearly half of small and medium-sized farmers in developing countries. A shortage of skilled operators and weak supply chains also impact market growth.

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Segmentation Insights

By Product Type:

Centrifugal Pumps – Largest segment, USD 3.0 billion in 2024 to USD 5.5 billion by 2034, CAGR 6.0%.

Solar-Powered Pumps – Fastest-growing, USD 2.0 billion by 2034, CAGR 8.5%.

Submersible Pumps – USD 1.0 billion in 2024, steady growth for deep-well irrigation.

By Application:

Irrigation – Largest segment, USD 3.5 billion in 2024 to USD 6.0 billion by 2034, CAGR 5.5%.

Water Supply – Fastest-growing application, CAGR 7.0%, USD 2.5 billion by 2034.

Drainage – Steady growth in flood management applications.

By End User:

Small-Scale Farmers – Largest segment, USD 2.5 billion in 2024 to USD 4.5 billion by 2034, CAGR 6.5%.

Large-Scale Farmers – CAGR 7.0%, driven by IoT-enabled precision agriculture.

Agricultural Cooperatives – Stable growth supporting shared resource adoption.

Agricultural Pumps Competitive Strategies & Notable Developments

Xylem Inc.

Grundfos

KSB SE & Co. KGaA

Sulzer Ltd.

Wilo SE

Flowserve Corporation

Franklin Electric Co., Inc.

Pentair plc

Ebara Corporation

The Weir Group PLC

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Agricultural Pumps Market Segmentation

By Product Type

Centrifugal Pumps

Positive Displacement Pumps

Solar-Powered Pumps

Submersible Pumps

By Application

Irrigation

Water Supply

Drainage

By End User

Small-Scale Farmers

Large-Scale Farmers

Agricultural Cooperatives

By Technology

IoT-Enabled Pumps

Conventional Pumps

By Distribution Channel

Direct Sales

Distributors

Online Retail

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