Submersible water pump segment accomplished largest revenue share in the Egypt Water Pump Market – 6Wresearch
Submersible pump has the most stable demand outlook for the forecast period owing to critical development of agriculture and water treatment infrastructure in the country. Egypt Water Pump Industry is likely to experience a decline in the forecast period on account of recurring effect of economic downfall in the country. the conflict between Ukraine and Russia has increased economic uncertainty as the nation's debt to GDP ratio increased to 93.8%, requiring 54% of the state budget to be allocated for loan and interest repayment. The market is anticipated to show indications of recovery in the later projected year with the focus of increasing agricultural production in the country to shift dependencies from import food materials to produce domestically.
According to 6Wresearch, Egypt Water Pump market is expected to decline at a CAGR of -0.7% during 2022-2028. the Egyptian economic crisis started in February 2022, with rising inflation over 15% from 5.1% in July 2021. Supply lines for critical commodities has been affected by the Russia Ukraine conflict and import restrictions imposed by Egyptian government. The market is projected to experience decline, but it is also projected to grow. Egypt water pump industry is in the middle of the growth stage due to rising demand of pumps in agriculture and wastewater industry. The sector can recover in the future and it can come out as one of the most essential sectors in the country.
According to Ravi Bhandari, Research Head, 6Wresearch, Water utilities sector would continue to grow over the forecast period despite slowdown in most economic sectors of the country owing to the development of water treatment infrastructure and irrigation projects.
Offline channel would continue to be the prominent sales channel over the coming years. However, with growing B2B online commerce in the country, the online channel would witness robust growth.
The Egypt Water Pump Market (2022-2028)” report provides an in-depth analysis with 24 figures and 7 tables, covered in 82 pages. The report on Water Pump Market in Egypt comprehensively covers the industry by types, distribution channels, applications, and region. The report provides a detailed as well as unbiased analysis of the on-going drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per to the latest and future market dynamics.