Expansion of Industrial and Manufacturing Sectors Coupled with Increasing Investment in the Construction Market would Drive India's Self Priming Pumps Market Over the next six years - 6Wresearch
India Self Priming Pumps market witnessed a steady growth during 2014-17 owing to increasing government initiatives to spur the residential development in the country along with rising infrastructure development and increasing farm mechanization. Further, the market is expected to witness a higher growth owing to increasing electrification of rural areas and rise in the number of industrial and residential units during the forecast period.
According to 6Wresearch, India Self Priming Pumps market is projected to grow at a CAGR of 4.2% during 2018-24. Rising population along with government Schemes such as Pradhan Mantri Awas Yojana (PMAY) to construct home for economically weaker section and Deen Dayal Upadhyay Gram Jyoti Yajnas (DDUGJY) for Rural Electrification are likely to emerge as the key driving factors for the growth of India Self Priming Pumps market over the coming years. In India Self Priming Pumps market, domestic players acquired dominant market revenue share of over 90% in 2017, which is expected to continue during the forecast period.
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According to Rishi Malhotra, Sr. Research Analyst, Research and Consulting, 6Wresearch, "Electric Self priming pumps are expected to record a healthy growth due to increasing electricity rate and development of infrastructure in rural areas. Diesel pumps, on the other hand are expected to witness a decline in the market share due to high ownership and operating costs."
"Moreover, 1-3 HP self-priming pumps gained the maximum share in terms of volume as these meet the current power requirement for residential and irrigation applications, whereas in case of Head range, below 30 meters range recorded maximum volume share due to its prevalence in industrial and commercial applications, followed by 30-50 meters range, "Rishi further added.
According to Siddhant Sharma, Research Analyst, Research and Consulting, 6Wresearch, "Northern region held major market revenue share for Self-Priming Pumps attributed to increasing infrastructure development activities, especially in the residential and industrial sectors."
"Additionally, the Eastern region is also expected to witness sound growth which is mainly attributed to ongoing/upcoming infrastructure projects, including increase in the number of manufacturing units coupled with rise in mining activity and development of the commercial sector," Siddhant concluded.
Some of the key players in India Self Priming Pumps market include- Kirloskar Pumps Ltd., Havells India ltd., C.R.I. Pumps Private Limited, Flowmore Pumps, Crompton Greaves Consumer Electricals Ltd., V-Guard Industries Ltd., Grundfos Pumps India Private Ltd., Texmo Industries, KSB Pumps Ltd. and Xylem Water Solutions India Private. Ltd.
"India Self Priming Pumps Market (2018-2024)" provides an in-depth analysis with 28 figures and 31 tables covered in more than 110 pages. The report estimates and forecast the overall India Self Priming Pumps market by types, applications, HP range, Head range and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
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