Growing urbanization and industrialization as well as increasing public & private infrastructural development activities have propelled the demand for submersible pumps in India. Further, need for better and advanced water pumping solutions in several applications has also driven the growth of submersible pumps in India. Additionally, features such as low maintenance cost, energy efficient, less noise, and water proof are providing an added advantage over the traditional pumps.
India submersible pumps market is projected to grow at a CAGR of 9.2% during 2017 to 2023. Open well pumps segment registered majority of the revenue share in 2016, owing to major adoption in agriculture application. In the overall submersible pumps market, agriculture application acquired major revenue share followed by residential & commercial and industrial applications. The agriculture sector in India is projected to witness substantial growth over the coming years, attributed to increasing facilities and investments in agricultural infrastructure such as irrigation facilities, cold storage, and warehousing.
The submersible pumps market is relatively fragmented, owing to presence of large number of foreign and domestic players across the country. Moreover, domestic manufacturers are rigorously focusing towards expansion through mergers and tie-ups with several international players. Some of the major players in submersible pumps market in India include Shakti Pumps, Oswal Pumps, KSB Pumps, C.R.I. Pumps, Kirloskar Brothers, Crompton Greaves, WPIL, Falcon Pumps, Texmo Industries, and V-Guard Industries.
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The report thoroughly covers submersible pump market by type, applications, industry, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers, which would help the stakeholders to decide and align their market strategies according to the current and future market dynamics.
The report provides detailed analysis of the following market segments:
- By Types
- Openwell Submersible Pumps
- Borewell Submersible Pumps
- By Applications
- Residential & Commercial
- By Industry
- Oil & Gas
- Water & Sewage
- Power Utilities
- By Regions
For more related reports visit us at:Pumps Market Reports
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