According to TechSci Research report, “India Water Pumps Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the India Water Pumps Market is experiencing a surge in demand in the forecast period. India Water Pumps Market to Grow with a CAGR of 14.29% through 2029.
The India Water Pumps Market is driven significantly by the ongoing modernization of the agricultural sector and the expansion of irrigation practices. Agriculture remains a vital pillar of the Indian economy, supporting a large segment of the population. As farmers increasingly adopt advanced irrigation techniques to boost crop yields and mitigate the impact of unpredictable rainfall patterns, there is a growing demand for efficient water pumps.
The Green Revolution initiated the adoption of modern agricultural practices in the 1960s, and today, there is continuous momentum towards technological advancements. Water pumps play a crucial role in ensuring consistent water supply for crops, particularly in regions facing water scarcity. Government initiatives and subsidies further incentivize farmers to invest in high-performance water pumps, thereby stimulating market growth. This link between agricultural development and the water pumps market underscores the essential role these devices play in supporting food production and economic sustainability in India.
Government efforts to improve rural water management also drive the water pumps market. Programs aimed at providing clean and accessible water to rural communities, such as the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) and the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), enhance irrigation infrastructure and electrification in rural areas.
These initiatives often include subsidies and support for water pump installations, facilitating the adoption of modern irrigation practices among farmers. By promoting efficient water utilization and management, the government significantly boosts the demand for water pumps in rural India. These efforts align with broader objectives of sustainable development and improved living standards, contributing to the growth and expansion of the water pumps market nationwide.
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The India Water Pumps Market is segmented by type, application, pumps type, and region.
In terms of type, the Centrifugal segment dominated the India Water Pumps market, holding a market share of 93.19% in 2023. Centrifugal pumps are highly versatile and suitable for pumping liquids of various viscosities, from water to sewage. They are known for their low-maintenance nature due to their simple design with few moving parts, which reduces the likelihood of breakdowns. These factors contribute significantly to the growth of the centrifugal segment in the India Water Pumps Market.
The Indian government has been significantly increasing its investment in infrastructure, with the budget for infrastructure projects in the financial year 2023 reaching approximately INR 7.5 lakh crore (around USD 92 billion). This substantial investment underscores the government's ongoing commitment to infrastructure development.
India's focus on industrialization, supported by initiatives like Make in India, Digital India, and Startup India, has bolstered the Electronics System Design and Manufacturing (ESDM) sector. This industrial growth has further propelled the demand for centrifugal pumps in various applications.
As of June 2023, India heavily relies on thermal power sources for electricity generation, with a total installed capacity of 237.26 GW, accounting for over 56% of the country's electricity generation capacity.
Given these dynamics, it is advisable for key players in the India Water Pumps market to concentrate on the Centrifugal pumps segment to leverage favorable market prospects.
In terms of application, the Agriculture segment dominated the India Water Pumps market with a market share of 26.06% in 2023.
In agriculture, water pumps play a crucial role in lifting water from canals and rivers and pressurizing water for distribution through sprinkler systems, ensuring even water distribution over crops. The increasing demand for food production and the necessity to irrigate crops in arid and semi-arid regions are key drivers of growth in the India water pumps market. Moreover, the adoption of smart and solar-powered water pumps is expected to further propel market growth in the coming years.
India holds a prominent position in the global agriculture sector, supporting the livelihoods of approximately 55% of its population. It is the world's second-largest producer of food grains, fruits, vegetables, and the second-largest exporter of sugar, necessitating a large number of pumps for irrigation.
Therefore, stakeholders in the India Water Pumps market are encouraged to focus on the Agriculture segment to capitalize on lucrative market opportunities.
Major companies operating in the India Water Pumps Market are:
- Kirloskar Brothers Limited
- C.R.I. Pumps Private Limited
- Crompton Greaves Consumer Electricals Limited
- KSB Company
- Sulzer Pumps India Private Ltd.
- TARO PUMPSETS PRIVATE LIMITED
- Wilo Mather and Platt Pumps Pvt. Ltd.
- Grundfos Pumps India Private Ltd.
- Shakti Pumps (I) Ltd.
- WPIL Limited
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“The India Water Pumps Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The Indian water pumps market is propelled by robust government-led agricultural reforms, emphasizing modernization and irrigation expansion. Initiatives like the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) provide financial incentives, driving the demand for advanced water pumps among farmers. As agriculture remains a linchpin of the economy, these strategic reforms align with the nation's goal of enhancing crop productivity and securing sustainable water management.
Consequently, the market witnesses a surge in demand for high-efficiency water pumps, reflecting the synergistic relationship between government policies and the growth trajectory of the Indian water pump industry. Therefore, the Market of Water Pumps is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“India Water Pumps Market By Type (Centrifugal & Positive Displacement), By Application (Agriculture, Building Services, Water & Wastewater, Power, Oil & Gas, Lift Irrigation, and Others), By Pump Type (Submersible Pumps, Multistage Pumps, End Suction Pumps, Positive Displacement Pumps, Split Case Pumps, Engineered Pumps), By Region, By Competition”, has evaluated the future growth potential of India Water Pumps Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India Water Pumps Market.
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