Rising Government Investments to Drive Vertical Turbine Water Pumps Market in India to $ 259 Million by 2023
Growing government initiatives, rising investments
in water, drip irrigation and lift irrigation related projects, coupled with
increasing power and sewage treatment plant construction projects to drive
India vertical turbine water pumps market through 2023
According
to TechSci Research report, “India
Vertical Turbine Water Pumps Market By Operation, By Sales Channel, By End Use
Industry, Competition Forecast & Opportunities, 2013-2023”, vertical
turbine water pumps market in India is projected to surpass $ 259 million by
2023, on the back of increasing demand from agriculture as well as construction
sector. Technological advancements, huge investments in micro irrigation, lift
irrigation and drip irrigation projects, and rising demand for pumps with high
discharge are expected to aid market growth in the coming years. Moreover, the
government has plans to expand renewable
energy capacity to 227GW till 2022, which in turn is anticipated to have a
positive impact on the country’s vertical turbine water pumps market through
2023.
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Some
of the major players operating in the vertical turbine water pumps market in
India are Kirloskar Brothers Limited, Flowmore Limited, Wilo Mather & Platt
Pumps Private Limited, and WPIL Limited, among others. On the basis of
operation, vertical turbine water pumps market is majorly segmented into axial,
radial and mixed flow vertical turbine water pumps. Of these types, mixed flow
vertical turbine water pumps account for the largest market share. Building
services segment is expected to witness the fastest growth in the country’s vertical
turbine water pumps market, owing to significant investments in infrastructure projects,
green buildings and smart cities across the country.
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“North
India generates the largest demand for vertical turbine water pumps in the
country, backed by significant budget allocations and investments in this
region. For instance, New Delhi Municipal Council’s budget increased from $ 560
million in 2017-18 to an estimated $ 600 million in 2018-19, while state
government of Haryana has allocated about $ 67 million for solar based
irrigations schemes and encouraging micro-irrigation
in the state. All these developments are likely to drive demand for
vertical turbine water pumps in North India through 2023.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India VerticalTurbine Water Pumps Market By Operation, By Sales Channel, By End Use Industry,
Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of vertical
turbine water pumps market in India and provides statistics and information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyses the emerging trends
along with essential drivers, challenges and opportunities in India vertical
turbine water pumps market.
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