India Water Pumps Market to Reach USD2275.40 Million until FY2027
The increasing oil demand
and investments in water and wastewater treatment activities are likely to drive
the India Water Pumps Market through FY2027
According to TechSci report, “India Water Pumps Market
By Type (Centrifugal & Positive Displacement), By Application (Agriculture,
Building Services, Water and Wastewater, Power, Oil & Gas, Lift Irrigation, Others), By Pump Type (Submersible Pumps,
Multistage Pumps, End Suction Pumps, Positive Displacement Pumps, Split Case Pumps, Engineered Pumps), By
Region, Competition Forecast & Opportunities, FY2027F”, India Water
Pumps Market was valued at USD1685 million in FY2021 and is projected to grow at
a CAGR of 5.59% in the forecast period, primarily due to the rising
industrialization and construction activities. Moreover, increasing agriculture
activities, and depleting ground water levels are likely to fuel demand for
water pumps across India in the coming years. In addition to this the
increasing focus on development of wastewater treatment plants and desalination
plants in the country coupled with various government initiatives for
strengthening and developing existing and new infrastructure projects are some
of the other major factors that are expected to propel demand for water pumps
in India during the forecast period.
On
the basis of Type, the India
Water Pumps Market is categorized into Centrifugal Pumps and Positive
Displacement. Among these, the Centrifugal
Pumps category accounted for the majority of market share in the India Water Pumps Market in FY2021 and
it is anticipated to remain as the dominating category throughout the forecast
period as they are the best devices used for water and thin liquids and
slurries in almost every industry. Centrifugal pumps market in India is
expected to be competitive, with several established vendors expanding their
product portfolio as centrifugal pump is best suited for non-air or
vapor-containing liquids with low viscosity.
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Based on Application, the agriculture
segment dominates the India Water Pumps market as it accounted for over 26%
share of country's total market
in FY2021 and is expected to remain dominant in the forecast period also. Declining water level and rising per
capita water demand are major challenges being faced by the agriculture sector
and its allied segments. On the other hand, per capita water availability has
reduced to about one third since 1950, resulting into growing demand for water
pumps. Other factors such as rising urbanization, infrastructure investment and
industrialization (especially in water & wastewater, oil & gas sectors)
are also driving the water pumps market in India.
The demand for water-pumps is
expected to increase due to the increasing need for industrial wastewater
treatment. The increasing infrastructure development in India is also expected to have a positive impact on the water-pumps
market..
Based on Pump Type, the India
Water Pumps Market can be segmented into Submersible Pumps, Multistage Pumps, End
Suction Pumps, Positive Displacement Pumps, Split Case Pumps, Engineered Pumps,
in which the Submersible Pumps category accounted for majority of market share in
the India Water Pumps Market in FY2021.
Some of the major players in
the market include Kirloskar Brothers Limited (KBL), C.R.I.
Pumps Private Limited, Crompton Greaves Consumer Electricals Limited, KSB
Limited, Sulzer Pumps India Limited, Texmo Industries, WILO Mather and Platt
Pumps Private Limited, Grundfos Pumps India Private Limited, Shakti Pumps India
Limited, WPIL Limited and others. The companies are focusing on extensive research and developments activities to
stay competitive in the market. Other competitive strategies include formation
of alliances and partnerships.
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“The demand for water-pumps is expected
to increase due to the increasing need for industrial wastewater treatment. The
increasing infrastructure developments in India could have a positive impact on the
water-pumps market. The development of the industrial and agricultural sectors
could increase the demand for water-pumps sector and the growing dependency on
groundwater for irrigation and agricultural purposes in India is also expected
to increase the demand for water-pumps. The
Government of India has introduced several policies to promote agricultural
growth in the country. These policies range from subsidized electricity to
exemptions on use of solar water pumps. The announcement of such policies has
inspired farmers to install independent irrigation facilities to ensure
consistent availability of water, consequently, pushing the demand for water
pumps in India.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Water Pumps Market By Type
(Centrifugal & Positive Displacement), By Application (Agriculture,
Building Services, Water and Wastewater, Power, Oil & Gas, Lift Irrigation, Others), By Pump Type (Submersible Pumps,
Multistage Pumps, End Suction Pumps, Positive Displacement Pumps, Split Case Pumps, Engineered Pumps), By
Region, Competition Forecast & Opportunities, FY2027F” has evaluated the future growth potential
of India Water Pumps market and provides statistics & 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 analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India Water
Pumps market.
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