The pump market size in India to be valued at USD 3 billion in 2026, exhibiting a compound annual growth rate (CAGR) of 7% during the forecast period. The demand for pumps is expected to grow at a steady rate due to the increased application of pumps in several end-user sectors. Pump manufacturers in India have focused solely on the agriculture and construction services sectors.
The increasing oil demand and expanded investments in water and wastewater treatment activities are likely to affect the pump market substantially. The domestic demand is also majorly met by local vendors, with the industry having robust capabilities to meet the demand. India's pump market is likely to witness the emergence of intelligent pump systems and micro disc pump technology in the next few years. Intelligent systems are expected to control and regulate the fluid's flow or pressure and adjust to process changes and have a fault-tolerant design. The market contributes significantly to the country’s GDP as these devices play a major role in the agriculture and infrastructure sector.
- Increased investments in water and wastewater treatment activities are projected to have a substantial effect on India's market.
- The centrifugal segment is expected to reach over $2.4 billion by 2026 on account of wide application across end-users.
- The Indian pump market share by chemicals is expected to grow at a CAGR of 8% during 2020–2026, as the chemical industry is among the fastest-growing industries in the country.
- The Indian pump market by pharmaceutical is likely to grow at a CAGR of 7% during 2020–2026 because of the rapid expansion of pharmaceutical facilities and increased investment from the private sector.
PUMP MARKET IN INDIA SEGMENTATION
This research report includes a detailed segmentation by
- Product Type
- End-user Type
INSIGHTS BY PRODUCT TYPE
The centrifugal pump market in India is expected to be competitive, with several established vendors expanding their product portfolio. Centrifugal is best suited for non-air or vapor-containing liquids with low viscosity. Technology capabilities of centrifugal, particularly submersible pumps, are a key driver for increased demand from India's agricultural sector. The single-stage and submersible are major centrifugal devices used in India. Agriculture and infrastructure projects account for the major application.
The increasing need for energy-efficient systems drives the rotary pump industry. To speed up the development of rotary devices, new agriculture innovations are implemented to improve the total catering productivity to meet the increasing demand for farm products. Moreover, improved intelligent production plants with pumps connected to cloud-based AI and IOT technology and essential information are further expected to increase demand. However, rising raw material costs are expected to hinder demand growth. Growth in population and the rise in India's urbanization are increasing demand for pumps in oil & gas, electricity, and other industries.
INSIGHTS BY END-USER
Industrial pumps are witnessing a high demand from cement, steel, oil & gas, water & wastewater sectors. The increased oil and gas demand and high investments in water and wastewater treatment activities are projected to increase sales substantially. The industrial pump market in India is expected to reach over $2 billion by 2026. Water & wastewater, chemical, pharmaceutical, construction, food and beverage, and mining are the major end-users in India. Factors such as the increased focus on energy-efficient products in the water and wastewater industry, the development of generic pharmaceutical production, rapid urbanization, and the rise in massive housing schemes and expansion in infrastructural projects are likely to influence the growth of industrial pumps in India.
The agriculture sector is one of the largest contributors to the pump demand and accounts for about 20% of India's pump industry. The agricultural sector is currently distinguished by the penetration of low-cost devices as farmers use in agriculture practices. The increasing unpredictability in weather is pushing the demand for submersible devices. Moreover, the demand for medium-high HP equipment is high as water levels across the country are low in rural areas.
Several leading commercial pump providers have shifted the focus on green building. The increasing awareness of sustainability practices and significant R&D activities have increased the demand for energy-efficient and intelligent commercial devices. However, the commercial pump industry's growth is hindered by the high cost of energy-efficient machines and fluctuations in raw material prices. Hospitality, hospitals, public utilities are the major end-users in the commercial sector.
The residential sector pump market in India is likely to grow at a CAGR of close to 6% during 2020–2026. With the rise in residential and commercial projects, water pumps' demand is expected to increase across the country. With the growth and popularity of e-commerce, consumers have shifted to purchases from online stores, which are expected to increase in the future.
INSIGHTS BY GEOGRAPHY
By revenue, Southern India is expected to lead the pump market in India. The region is likely to register a revenue of over 1.1 billion by 2026. Karnataka, Tamil Nadu, and Andhra Pradesh are projected to emerge as the major contributors to the market revenue. The increasing awareness of energy star ratings among consumers is expected to drive the market toward energy efficiency. The continuous decrease in groundwater levels is increasing the demand for submersible pumps among farmers. With the Karnataka government offering electricity to farmers at subsidized rates, there has been a high demand for pumps from the industrial sector, which is expected to augur well for pumps' growth, especially agricultural ones. The rise of the automobile, agricultural, aerospace, textile & garment, biotech & heavy engineering industries is expected to significantly influence the market. Tamil Nadu has built a base of over 2 hundred thousand agricultural devices, among the largest in India.
INSIGHTS BY VENDORS
India's pump market is highly fragmented, with small, medium, and large vendors operating across the country. Customers have long-term contracts or tenders with vendors, and they tend to work with vendors with engineering expertise and are manufacturing pumps for a long time. Also, customers look for vendors providing after-sales services, one of the key competitive factors in the market. There is a high competition for small vendors from large vendors or vendors having a diversified product portfolio and large R&D platform. Crompton, Flowserve Corporation, Jyoti Group, Kirloskar Brothers, KSB, Roto Pumps, Shakti Pumps, and WPIL are the prominent players in the market.
The pump market in India research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
By Product Type
- Single Stage
- Industrial Sector
- Oil & Gas
- Water & Wastewater
- Food & Beverage
- Commercial Sector
- Public Utilities
- By Distribution Channel
- Residential Sector
- By Distribution Channel
- Agricultural Sector
- By Power Output
- 3–7 HP
- 7–10 HP
- 10–13 HP
- 13–15 HP
- By Product
- By Distribution Channel
- Uttar Pradesh
- Andhra Pradesh
- Tamil Nadu
- Madhya Pradesh