( PR4US.com | Press Release | 2017-10-12 21:38:15 )
Mumbai, India – October 12, 2017 – Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Pumps Market in India 2017’ https://www.researchonindia.com/pumps-market-in-india-2047.html
. Indian pump industry caters to demand from diverse sectors. Irrigation requirement of the agricultural sector owing to unreliability of the monsoons is driving the growth of this market.
Netscribes’ latest market research report titled Pumps Market in India 2017 showcases a comprehensive market scenario of the pumps industry in India along with the influencers responsible for future growth. Agricultural sector accounts for the highest share of demand for pumps in the Indian market. Southern India accounts for the highest share of pumps manufactured in the country. Expansion in Infrastructure is one the major factors influencing the growth of the pumps market. Erratic monsoon in India provides a major opportunity for market growth. Fluctuations in ground water level have also facilitated further development of the market. Rise in population and urbanization has boosted the demand for pumps in the market. Healthy economic outlook is also stimulating the growth of the Indian pumps industry. The Government of India is actively encouraging technology development and transfer to enable the small scale pumps manufacturers to enter high-tech areas such as aerospace and defense.
However, the players operating in the market also face several challenges which are hampering their development and growth. Agricultural power subsidy by the government poses a major hindrance in market growth. High price sensitivity of customers also presents a major challenge for market growth. Moreover, rise in cost of inputs acts as a major bottleneck in the development of the Indian pumps industry. The major player in the Indian pumps market is Kirloskar Brothers Limited, holding a considerable portion of the market share along with KSB Pumps, Dynamatic Technologies, Shakti Pumps, WPIL Limited and others.
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