According to this report, now available on ASDReports, “India Water Pumps Market By Type, By Application, Competition Forecast & Opportunities, 2022”, water pump market in India is projected to surpass $ 3.8 billion by 2022. Rising government investments and incentives to encourage use of eco-friendly solar pumps in the agricultural sector and to convert waste land to agriculture land is boosting demand for water pumps for irrigation purposes. For instance, out of 141 million hectares of cultivated area, only 46% is covered under irrigation, but under Pradhan Mantri Krishi Sinchai Yojna, an additional 2.85 million hectares of land will be brought under irrigation which will augment water pump market in the country over the next five years. Some of the leading key players operating in the country’s water pumps market include KBL, CRI Pumps, KSB, Shakti Pumps Ltd., etc.
Based on pumping technology, India water pump market is broadly segmented into centrifugal and positive displacement water pumps. Centrifugal water pumps accounts for the majority share owing to large number of benefits over positive displacement pumps such as simple design, smooth flow rate, wide capacity range, less maintenance requirement and good operational efficiency. Dominance of centrifugal pumps segment is expected to continue in the coming years, however, demand for positive displacement is also anticipated to grow, predominantly in areas where high pressure is required.
“India is recognized as an export hub for water pumps and the country exports water pumps to more than 100 countries across the globe. Various India-based leading pump manufacturers have an edge over their global competitors as they manufacture highly efficient pumps that operate at low cost, and also offer zero down time advantage (pumps which run continuously without any breakdown). Moreover, domestic demand for pumps is also expected to witness double digit growth in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Water Pumps Market By Type, By Application, Competition Forecast & Opportunities, 2022” has evaluated the future growth potential of India water pump market and provides statistics and 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 evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India water pump market.
Read more on ASDReports!
Source: ASDReports - Market Research
Date: Nov 10, 2017