How is Domestic Pump Market (Less than 2.5 HP) Positioned in India?
India Domestic Pump Market is currently positioned to be in the maturity stage. The Market grew at CAGR of 4-6% during the review period, FY’2015-FY’2020. Rapid Urbanization, Depleting Ground Water Level and Rise in the Number of Infrastructure Initiatives are some of major factors responsible for the surge in demand for domestic pumps (Less than 2.5 HP).
More than 70% of the pump manufacturing takes place in Coimbatore and Rajkot. Coimbatore is also known as the Pump City in India. Other manufacturing locations include Maharashtra, Madhya Pradesh, Punjab, Karnataka and Others.
India Domestic Pump (Less than 2.5 HP) Market registered a CAGR of 5.3% and 3.1% on the basis of revenue and sales volume respectively, during the review period FY’2015- FY’2020.
How Is the Market Segmented?
By Market Structure (Organized and Unorganized): Organized market dominated the demand for domestic pumps (less than 2.5 HP) basis revenue. The unorganized players offer products at a low price and offer replacement warranty of 12-24 months in contrast to organized players who offer a repair warranty of 12-24 months.
By Pump Type (Borewell Submersible, Mini Monoblock (Self Priming Pumps), Pressure Booster Pumps and Other Pumps): Mini Mono block pumps dominated the demand for domestic pumps basis sales volume in FY’2020 whereas; borewell submersible pumps dominated the demand for domestic pumps basis revenue in FY’2020. Average price range for domestic pumps sold in India is between INR 4,000-12,000. Manufacturing hub for mini monoblock pumps in India is Coimbatore whereas; Rajkot is the manufacturing hub for Submersible Replacement time for domestic pumps (Less than 2.5 HP) category ranges between 6 to 10 years.
By Motor Rating (0.5 HP, 0.5-1.0 HP, 1.0-1.5 HP and 1.5-2.0 HP): 0.5 and 1.0 HP pumps are most demanded product categories for domestic applications. Mini Monoblock and Self Priming Pump is the most selling pump category in 0.5 HP- 1.0 HP products. 2 HP and above pumps are majorly used in agriculture and building, construction segment.
By States (Maharashtra, Tamil Nadu, Gujarat, Karnataka, Telangana, Kerala, Delhi NCR, West Bengal, Madhya Pradesh, Bihar and Other States): The demand for domestic pumps (Less than 2.5 HP) was dominated by Maharashtra, Karnataka, Telangana, Gujarat, Tamil Nadu, Kerala, Delhi NCR, West Bengal, Madhya Pradesh and Bihar. Texmo Industries, CRI Pumps, V-Guard, Aqua Group are the leading players in South region. In addition this Varuna Pumps, Lubi Pumps, Kirloskar are the leading players in West Region. Crompton, Texmo Industries dominated the market in East Region. Whereas, Crompton, Varuna Pumps dominated the market in North Region.
By Distribution Channel (Dealer and Distributor Network, Direct Sales Channel and Online Sales Channel): Major players in domestic pump market follow multiple channels of making the products available to the end users including dealers and distributor, direct sales and online channel. Dealer and distribution channel dominated the sales for domestic pumps in India followed by direct channel and online channel.
Selection of Dealer Network: Major players in India Domestic Pump (Less than 2.5 HP) Market have a network of more than 1,000 dealers scattered across the country to fulfil orders of the end users. Sales Volume and Revenue, Market Coverage, Product Range, Margin Sharing, Storage Unit/Warehouse and Education are a few factors taken into consideration before empanelling a dealer in a particular region.
Competitive Landscape in India Domestic Pump Market (Less than 2.5 HP)
Competition in Total Indian Domestic Pump Market is highly fragmented owing to availability of more than 300 brands of pumps across the country. Whereas competition in Organized Pump Market is moderately concentrated among top ten players in the industry captured more than ~% market share in FY’2020. Product Performance, Price, Product Range, Warranty, Brand Name, After Sale Service, Distributor Network, Marketing Communication, Product Life Services have been mapped as major competing parameters for companies operating in India Domestic Pump Market.
Impact of COVID-19 on India Domestic Pump Market (Less than 2.5 HP)
Domestic Pump Industry in India witnessed a decline in pump sales during the pandemic, owing to retail stores being closed and no construction activity happening in the country. Manufacturing plants were closed thereby putting a halt on the manufacturing activity in the country.
Market declined by ~% in FY’2021 on the basis of sales volume and revenue. Companies increased their manufacturing capacity utilization to cover the loss in domestic pump sales during Quarter 1 and Quarter 2. In addition to this, social distancing norms and regular medical checkups were performed at the manufacturing plant and office to ensure safety of workers.
What is the Future of India Domestic Pump Market (Less than 2.5 HP)?
The demand is expected to grow with a CAGR of 2.4% and 1.1% on the basis of revenue and sales volume respectively, during the forecast period (FY’2020-FY’2025). Due to ever increasing concern of saving energy, companies are expected to increase the production of energy efficient pumps. In addition to this, rise in demand for smart pumps, depleting ground water level and rise in household construction is expected to drive the domestic pump market (less than 2.5 HP) in India.
Key Segments Covered:-
By Market Structure
Organized Market
Unorganized Market
By Pump Type
Mini Monoblock Pumps
Borewell Submersible Pumps
Pressure Booster Pumps
Other Pumps
By Motor Rating
0.5 HP
0.5-1.0 HP
1.0-1.5 HP
1.5-2.0 HP
By State
Maharashtra
Tamil Nadu
Gujarat
Karnataka
Telangana
Kerala
Delhi NCR
West Bengal
Madhya Pradesh
Bihar
Other States
By Distribution Channel
Dealer and Distributor Network
Direct Sales Channel
Online Sales Channel
Companies Covered:-
Crompton
Kirloskar
Texmo Industries (Texmo and Taro)
Lubi Pumps
V-Guard
C.R.I. Pumps
Aqua Group (Texmo and Aquatex)
Lagajjar (Varuna Pumps)
Usha Pumps
Havells
KSB Group
Suguna Pumps
Grundfos
Shakti Pumps
CG Power
Mahendra Pumps
Duke
Polycab
Bindhu Pumps
Kumar Pumps
Deccan Industries
ESPA
Key Target Audience:-
Global & Domestic Pump Manufacturers
Pump Distributors
Pump Importers
Government Associations
Electric Consumer Durables Companies
Private Equity and Venture Capitalists firms
Time Period Captured in the Report:-
Historical Period: FY’2015-FY’2020
Forecast Period: FY’2021-FY’2025
For More Information on the research report, refer to below link:-
India Domestic Pumps (Less than 2.5 HP) Market
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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