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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