According to the report the Indian water pumps market revenue is expected to grow two folds by the end of 2018, growing at a CAGR of around 13% during the next five years.
(PRWEB) August 31, 2013
TechSci Research, the leading research based global management consulting firm, has recently published its in-depth, analytical and significant report on Water Pumps Market in India titled “India Water Pumps Market Forecast & Opportunities, 2018”. According to the report, the Indian water pumps market revenue is expected to grow two folds by the end of 2018, growing at a CAGR of around 13% during the next five years.
One of the key highlights of “India Water Pumps Market Forecast & Opportunities, 2018” report is the revelation that centrifugal water pumps control almost the entire water pumps market in India because of its higher efficiency along with its compactness when compared with the positive displacement water pumps. Moreover, new innovations, such as polyester-coated polypropylene wrapped winding wires are replacing conventional methods gradually.
The report reveals that the water pumps market in India is mainly driven by mounting urbanization and the fast growing infrastructure sector. It also points out that the market is restrained by various factors, such as price sensitivity of farmers and the increasing cost of raw materials, etc.
The TechSci Research team evaluated 2,000 water pump manufacturers in the country, which are mainly located in Rajkot and Coimbatore cities and which account for about 90% of the overall production of water pumps in the country.
According to the report the leading manufacturers of water pumps in India are: Lubi, Ariant, Sabar, Falcon, Kiwi, Topland Aqua Sub, Texmo, CRI and Deccan pumps, where CRI leads the market.
“Major companies are adopting ERP (Enterprise Resource Planning) system for proper distribution and with the help of SITRC (Small Industries Testing & Research Centre), small scale companies are also improving their product quality in order to capture more market share. The companies are also focusing on minimizing spare part’s failure in water pumps for improved customer satisfaction with their products,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Water Pumps Market Forecast & Opportunities, 2018” reveals that Indian water pumps market accounts for mere 2% of the global market share, despite the fact that India along with China, Germany, US and Japan are the foremost water pump manufacturing hubs across the globe.
The report also highlights serious challenges, such as per capita availability of water in India, which has reduced up to about 70% during the last five decades. In order to curb this problem, the Ministry of Agriculture, Government of India, has planned expenditure of about USD 5 Billion during 2013-14.
“India Water Pumps Market Forecast & Opportunities, 2018” report acknowledges the important role being played by the power sector in the growth of water pump market in India. According to the report, the power sector has also contributed immensely to the growth of Indian water pump market. The total power generation capacity grew by about 145% during 1947-2012, thereby increasing the demand for water pumps.
“India Water Pumps Market Forecast & Opportunities, 2018” has evaluated the future growth potential of water pumps market in India and provides statistics and information on market structure, industry behaviour and trends. The report includes water pump market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities available in water pumps market in India.