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Home arrow News arrow Business News arrow Indian Pumps Market growing on Govt. initiatives and Diverse Demand: F&S
Indian Pumps Market growing on Govt. initiatives and Diverse Demand: F&S Print E-mail
Written by James   
Tuesday, 16 November 2010
Mumbai: The Indian pumps market is expected to witness a steep rise in demand over the coming years, owing to  growth factors such as a better economy, increasing middle class, rapid urbanization, and expanding infrastructure needs.

Strategic Analysis of the Indian Pumps Market from Frost & Sullivan finds that the market earned revenues of INR 49,736.1 million during FY 2010 and estimates this to reach INR 146,209.9 million by FY 2016.

Government initiatives in infrastructure development are likely to encourage growth in the key end-user sectors. With India’s gross domestic product (GDP) increasing at a rate of 8.0-9.0 percent and the Government’s thrust on infrastructure and urban development through projects such as Jawaharlal Nehru National Urban Renewal Mission (JNNURM), high growth is anticipated in the end-user sectors, including metals and mining, cement, power, water supply, and wastewater.

While the pumps market is anticipated to witness a high double-digit growth in the near future, factors associated with large unorganized manufacturers, free/subsidized electricity provided to the agriculture sector, long product life cycle, and counterfeits and political instability are likely to lead to delays or cancellation of government-aided projects and impede the possibility of higher growth rates.
 
The Indian pumps market has witnessed minimum technological advancements. Most pump manufacturers in the unorganized sector are niche-focused and manufacture products that cater to the specific demand of end users. They have predominant presence in the highly price-competitive agriculture and domestic sectors. As a result, these small-scale manufacturers promote their products mainly leveraging on low price, with limited focus on R&D activities.
 
To cater to customer demand for cost-effective solutions, pump manufacturers must provide integrated solutions. Though the initial cost of implementing an integrated solution package is high, end users have started considering the benefits over the long term.
 
“Only a few indigenous large-scale suppliers and multinational companies are able to offer customers with these cost-effective solutions,” says Virein Kumar Yadlapalli. “This is a challenge for most of the small- and medium-scale manufacturers, as they lack the required capital resources and technical expertise.”
 
To ensure market progression, there is a pressing need to ramp up awareness levels of end users about the cost benefit parameters associated with the deployment of these solutions. Enforcement of regulations, which mandate the adoption of such effective technologies, will also help improve the situation.
 
“Depleting groundwater levels, decreasing supply of uncontaminated water, and unreliable monsoons have increased the demand for water pumps,” says Frost & Sullivan Research Analyst Madhu Krishna Reddy. “With the prevalent drought conditions in many arid states due to inadequate rainfall, groundwater levels have been depleting at a rapid pace; this is expected to trigger the demand for pressure boosters and deep well submersible pumps to draw water from greater depths.”

Strategic Analysis of the Indian Pumps Market is part of the Industrial Automation & Process Control Growth Partnership Services program, which also includes research in the following markets: Indian Integral Horse Power Motors Market and Strategic Analysis of the Indian Manufacturing Execution Systems Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

Last Updated ( Wednesday, 27 April 2011 )
 
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