Pumps, Valves, and Compressors Market in India 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-17 04:57:03
The India Pumps, Valves, and Compressors market is to grow at a CAGR of 15.60 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand from process manufacturing industries. The Pumps, Valves, and Compressors market in India has also been witnessing the development of next-generation valves and pumps. However, the increasing raw material prices could pose a challenge to the growth of this market.
The Pumps, Valves, and Compressors market in India is witnessing a steady transition from the usage of conventional valve types to automatic valves. It is expected that during the forecast period, the automatic valve types will witness increased growth in terms of adoption than the conventional valve types, especially due to the growing need for productivity from the process industries. There will be increased demand for automatic valves from process industries owing to several enhancements in the operational efficiencies of the industrial production processes. However, with vendors focusing on low-cost products in order to attract cost oriented end-users, this transition is expected to gain momentum steadily during the forecast period.
The increasing demand from process manufacturing industries is one of the major drivers in the Pumps, Valves, and Compressors market in India. The Oil and Gas, Petrochemical, Chemical, Power, Food and Beverage, and Mining industries are some of the major end-users in the Pumps, Valves, and Compressors market in India.
The increasing raw material prices is one of the major challenges in the Pumps, Valves, and Compressors market in India. Raw materials such as steel, aluminium, and castings are widely used to manufacture valves, pumps, and compressors.
The key vendors dominating this space include Altlas Copco AB, CRI Pumps Pvt. Ltd., Crompton Greaves Ltd., Elgi Equipments Ltd., Flowserve Corp., Ingersoll Rand Inc., Kirloskar Brothers Ltd., Kirloskar Pneumatic Co. Ltd., KSB Pumps Ltd., L&T Ltd., and Pentair Ltd.
The other vendors mentioned are Baker Hughes Inc., Ebara Corp., Clyde Union Inc., Grundfos A/S, Schlumberger Ltd., and Weir Group plc.
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