It’s good news for the Indian pumps market! According to new research, India is about to experience unprecedented growth in the pumps market thanks to the country’s investment in infrastructural development.
Kirloskar Brothers Ltd is currently the biggest player in the Indian pumps market and (after this research came to light) they are looking to build a range of new and innovative products for a variety of industrial applications.
If Kirloskar Brothers Ltd is successful in this goal, they will soon rival some of the biggest pump businesses in the world.
This report will also benefit other large companies in the Indian pumps market which include Shakti Pumps and KSB pumps. There are also a number of small and medium pumps businesses that this report will help too.
The research looks at a range of aspects in the pumps industry including market size and market segmentation, in order to provide a complete analysis. The research then allows those in the pumps industry to have a better insight into the industry and enables them to make better business decisions.
Two important areas in the report are key drivers and growth restraints. Key drivers focuses on what will drive pump demand in India in the future. Growth restraints, like key drivers will also affect demand but will focus on what restraints are likely to slow pump demand.
In order to make the report as accurate as possible, the research also took into account recent developments in the industry which would obviously have a massive impact on the pumps market.
Unfortunately for India, recently the country has seen their growth rates decline. This has been put down to rising productions costs, a lack of domestic demand and no government investment.
The report then goes into detail about why India has experienced a steep decline in growth. The report suggested that it was down to diminishing revenue in the industrial pumps market. Currently in India, there has been a huge soar in raw material prices which understandably impacts the pumps market revenue.
The report follows on by breaking down the pumps market into the two different types of pumps available; centrifugal pumps and positive displacement pumps.
It is good news for the centrifugal pump suppliers as in the 2014 financial year, centrifugal pumps amassed a much larger sales figure across India. This is because centrifugal pumps are much more versatile and can be used in more application types when compared to the positive displacement pumps.
Currently the industrial industry use pumps in the following sectors; oil and gas, metals and mining, power generation, chemicals and water and water water. Then the report turns its attention to agricultural and domestic pumps which are used in the building and construction sector and the agricultural sector.
The research was commissioned by Ken Research and in this statement they summed up what they found. “The investment announced by the Indian government for the development of infrastructure will result in increased spending on industrial and agricultural pumps, rising pressure on profit margins due to high raw material costs affecting the growth of this industry in the future.”