Pump Market in India (2020 to 2026) - Industry Outlook and Forecast - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 17, 2020--
The “Pump Market in India - Industry Outlook and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Pump Market in India Report
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.
The following factors are likely to contribute to the growth of the pump market in India during the forecast period:
- Demand for Energy-efficient Pumps
- Demand for Solar Pumps
- Increased Export of Centrifugal Pumps
- Growth in the Agricultural Sector
The study considers the present scenario of the pump market and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
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.
Key Questions Answered
1. What is the future outlook and growth projections of the India pump market?
2. Why centrifugal pumps are likely to witness immense demand during the forecast period?
3. What are the key market challenges faced by key vendors?
4. Which industrial applications are likely to drive the global pumps industry outlook?
5. Which regions are witnessing significant demand for the agricultural pumps?
6. What Initiatives have been taken by government agencies to promote the Indian solar pump industry?
Opportunities & Trends
- Demand For Energy Efficient Pumps
- Demand For Solar Pump
- Increasing Export Of Centrifugal Pumps
- Infrastructure Expansion
- Deteriorating Groundwater Level
- Growing Agricultural Sector
- Rising Raw Material Cost
- Poor Electricity Supply
- International Competition
- Jyoti Group
- Kirloskar Brothers
- Roto Pumps
- Shakti Pumps
Other Prominent Vendors
- Aqua Group
- Best Engineers Pumps
- Commitment Reliability Innovation (C.R.I)
- CNP Pumps
- Duke Plasto Technique
- Endura Pumps
- Falcon Pumps
- Kishor Pumps
- Lubi Pumps
- Mahendra Pumps
- MBH Pumps
- Oswal Pumps
- Protecto Engineering
- Sam Turbo Industry
- Swastik Engineers
- Texmo Industries
- Waterman Industries
For more information about this report visit https://www.researchandmarkets.com/r/d5sct7
View source version on businesswire.com:https://www.businesswire.com/news/home/20201217005723/en/
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SOURCE: Research and Markets
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PUB: 12/17/2020 10:13 AM/DISC: 12/17/2020 10:14 AM