India Water Pumps Market Forecast & Opportunities, 2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-17 04:09:01
Agriculture sector is dominating in Indian economy as it accounts for over 53% share of country´s total work force. Declining water level and rising per capita water demand are major challenges being faced by population associated with agriculture sector and its allied segments. On the other hand, per capita water availability has reduced to about one third since 1940, resulting into growing demand for water pumps, where agriculture water pump is the leading segment.
Other factors such as rising urbanization, infrastructure investment and industrialization (especially in water & waste water, oil & gas sectors) are also driving the water pumps market. Urbanization in India has been witnessing strong growth, where urban population is further forecasted to be increased from 290 Million in 2002 to 500 Million by the end of 2017. Export segment of water pumps have also grown immensely as it grew by over two folds during 2010-12.
Indian water pump market revenues are expected to grow at the CAGR of around 13% during 2013-18. Indian water pumps market is segmented into two categories i.e. Positive Displacement and Centrifugal pumps, where centrifugal pumps market is dominant. The leading companies operating in water pumps market in India are Kirloskar Brother Limited, KSB Pumps, CRI Pumps, and Shakti Pumps.
Increased energy crisis and government regulation are motivating water pump manufacturers to develop energy efficient products. States such as Gujarat, Tamil Nadu and Maharashtra has strong industrial base, hence, leading in demand for industrial pumps, while Punjab and Uttar Pradesh are agriculture based states and consequently agricultural pumps are more in demand from these states.
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