Posted On: 2018-09-25
Expansion of Industrial and Manufacturing Sectors Along With Growing Mining Sector Would Drive the Growth of India 15HP & Above Coupled Self Priming Pumps Market Over the Next Six Years - 6Wresearch
India 15HP & Above Coupled Self Priming Pumps market witnessed a steady growth during 2014-17 owing to rising infrastructure development and growth in the mining sector. Further, government initiatives such as allocation of 200 mines in next two years in states such as Goa and Maharashtra as well as increasing electrification of rural areas and rise in the number of industrial units would further drive the growth of India 15HP & Above Coupled Self Priming Pumps market during the forecast period.
According to 6Wresearch, India 15HP & Above Coupled Self Priming Pumps market is projected to grow at a CAGR of 4.5% during 2018-24. Industries such as textiles, pulp & paper mining, sugarcane and metallurgy coupled with government initiatives such as 'Make in India' are likely to emerge as the key driving factors for the growth of India 15HP & Above Coupled Self Priming Pumps market over the coming years. In India, 15HP & Above Coupled Self Priming Pumps market, domestic players have acquired maximum revenue share in 2017.
According to Rishi Malhotra, Sr. Research Analyst, Research and Consulting, 6Wresearch, "Electric 15HP & Above Coupled Self Priming Pumps are expected to record healthy growth due to increasing electricity penetration and development of infrastructure in rural areas. Diesel pumps, on the other hand are expected to decline due to high ownership and operating costs."
"Moreover, 15-100 HP self-priming pumps gained the maximum share in terms of volume as these meet the current power requirement for industrial, mining and water & wastewater applications, whereas in case of head range, below 30 meters range recorded maximum volume share due to its prevalence in industrial and water & wastewater applications, followed by 30-50 meters range, "Rishi further added.
According to Akshay Thakur, Research Associate, Research and Consulting, 6Wresearch, "The Eastern region held major market revenue share for 15HP & Above Coupled Self-Priming Pumps attributed to growing mining sector due to increase in production of mining products and increasing ongoing/upcoming infrastructure projects, including growing number of manufacturing units."
"Additionally, the Northern region is also expected to witness sound growth which is mainly attributed to increasing infrastructure development activities, especially in the industrial sectors," Akshay concluded.
Some of the key players in India 15HP & Above Coupled Self Priming Pumps market include- Kirloskar Brothers Limited, Crompton Greaves Consumer Electricals Ltd., KSB Pump Ltd., Xylem Water Solutions India Pvt. Ltd., WILO Mather And Platt Pump Pvt. Ltd.
"India 15HP & Above Coupled Self Priming Pumps Market (2018-2024)" provides an in-depth analysis with 27 figures and 14 tables covered in more than 80 pages. The report estimates and forecast the overall India 15HP & Above Coupled 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.