DUBLIN, July 2, 2021 /PRNewswire/ — The “Pump Market in India – Industry Outlook and Forecast 2021-2026″ report has been added to ResearchAndMarkets.com’s offering.
The pump market in India by revenue is expected to grow at a CAGR of over 7% during the period 2021-2026.
The demand for pumps is expected to grow at a steady rate due to the increased application of pumps in several end-user sectors. Pump manufacturers in India have focused solely on the agriculture and construction services sectors.
The increasing oil demand and expanded investments in water and wastewater treatment activities are likely to affect the pump market substantially. The domestic demand is also majorly met by local vendors, with the industry having robust capabilities to meet the demand.
India’s pump market is likely to witness the emergence of intelligent pump systems and micro disc pump technology in the next few years. Intelligent systems are expected to control and regulate the fluid’s flow or pressure and adjust to process changes and have a fault-tolerant design. The market contributes significantly to the country’s GDP as these devices play a major role in the agriculture and infrastructure sector.
Pump Market In India Segmentation
This research report includes a detailed segmentation by product type, end-user type, geography. The centrifugal pump market in India is expected to be competitive, with several established vendors expanding their product portfolio. Centrifugal is best suited for non-air or vapor-containing liquids with low viscosity.
Technology capabilities of centrifugal, particularly submersible pumps, are a key driver for increased demand from India’s agricultural sector. The single-stage and submersible are major centrifugal devices used in India. Agriculture and infrastructure projects account for the major application.
Industrial pumps are witnessing a high demand from cement, steel, oil & gas, water & wastewater sectors. The increased oil and gas demand and high investments in water and wastewater treatment activities are projected to increase sales substantially. The industrial pump market in India is expected to reach over $2 billion by 2026.
Water & wastewater, chemical, pharmaceutical, construction, food and beverage, and mining are the major end-users in India. Factors such as the increased focus on energy-efficient products in the water and wastewater industry, the development of generic pharmaceutical production, rapid urbanization, and the rise in massive housing schemes and expansion in infrastructural projects are likely to influence the growth of industrial pumps in India.
INSIGHTS BY GEOGRAPHY
By revenue, Southern India is expected to lead the pump market in India. The region is likely to register a revenue of over 1.1 billion by 2026. Karnataka, Tamil Nadu, and Andhra Pradesh are projected to emerge as the major contributors to the market revenue. The increasing awareness of energy star ratings among consumers is expected to drive the market toward energy efficiency.
The continuous decrease in groundwater levels is increasing the demand for submersible pumps among farmers. With the Karnataka government offering electricity to farmers at subsidized rates, there has been a high demand for pumps from the industrial sector, which is expected to augur well for pumps’ growth, especially agricultural ones.
The rise of the automobile, agricultural, aerospace, textile & garment, biotech & heavy engineering industries is expected to significantly influence the market. Tamil Nadu has built a base of over 2 hundred thousand agricultural devices, among the largest in India.
INSIGHTS BY VENDORS
India’s pump market is highly fragmented, with small, medium, and large vendors operating across the country. Customers have long-term contracts or tenders with vendors, and they tend to work with vendors with engineering expertise and are manufacturing pumps for a long time. Also, customers look for vendors providing after-sales services, one of the key competitive factors in the market.
There is a high competition for small vendors from large vendors or vendors having a diversified product portfolio and large R&D platform.
Crompton, Flowserve Corporation, Jyoti Group, Kirloskar Brothers, KSB, Roto Pumps, Shakti Pumps, and WPIL are the prominent players in the market.
Market Dynamics
Market Opportunities & Trends
- Demand For Energy Efficient Pumps
- Demand For Solar Pump
- Increasing Export Of Centrifugal Pumps
Market Growth Enablers
- Infrastructure Expansion
- Deteriorating Groundwater Level
- Growing Agricultural Sector
Market Restraints
- Rising Raw Material Cost
- Poor Electricity Supply
- International Competition
Prominent Vendors
- Crompton
- Flowserve
- Jyoti Group
- Kirloskar Brothers
- KSB
- Roto Pumps
- Shakti Pumps
- WPIL
Other Prominent Vendors
- Aqua Group
- Best Engineers Pumps
- Commitment Reliability Innovation (C.R.I)
- CNP Pumps
- Deccan
- Duke Plasto Technique
- ELLEN
- Endura Pumps
- Falcon Pumps
- Grundfos
- Jasco
- Kishor Pumps
- Lubi Pumps
- Mahendra Pumps
- MAK
- MAXWELL
- MBH Pumps
- Oswal Pumps
- Protecto Engineering
- Sabar
- Sam Turbo Industry
- Swastik Engineers
- Suguna
- Texmo Industries
- V-Guard
- Waterman Industries
For more information about this report visit https://www.researchandmarkets.com/r/sg9qb8
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Related Links
http://www.researchandmarkets.com
PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
