Press release
Thailand Water Pump Market Analysis the Speedy Growth of Manufacturers during COVID-19
Thailand Water Pump Market
Thailand is a hub of Chinese players wherein they sell centrifugal water pumps at relatively lower prices. As a result of this, many Thailand players in the market are focused on price differentiation, in order to target price-sensitive customers. Furthermore, this trend is expected to continue during the forecast period. The use of monobloc pumps has increased significantly in the recent past, owing to growing trend of family farming across the country. Family farming is practiced in small agricultural plots and requires centrifugal pumps with low HP in irrigation. Pumps used in agriculture and domestic purposes provide minimal product differentiation in terms of price and quality and hence, a similar buy trend is applied to both end users.
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Who are the key players operating in the Thailand water pump market?
The major market players operating in the Thailand water pump market are Grundfos, Venz Industrial Co., Ltd., Sulzer Ltd., Hung Pump Group, KSB AG, Nanfang Pump Industry Co. Ltd., Kirloskar Brothers Limited, Shanghai Kaiquan Pump Group Co Ltd, Flowserve Corporation, and Ebara Corporation.
What is the Compound Annual Growth Rate (CAGR) of the Thailand water pump market during the forecast period (2020-2027)?
The market is expected to grow at 6.2% CAGR over the period (2020-2027).
What is the primary factor contributing towards the growth of Thailand water pump market?
Growing expansion of land under cereal production is expected to boost the Thailand Water Pump market growth over the forecast period.
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