Press release
India Intelligent Pump Market is projected to grow at a higher CAGR during 2020-2027 | Size, Share, Trends & Growth Forecast
India Intelligent Pump MarketThe Intelligent Pump Market in India is estimated to expand at a robust CAGR over the forecast period (2020-2027).
The factors driving the growth of India Intelligent Pump Market includes rapid growth in the construction sector, rise in the number of waste treatment activities and increase in Government's expenditure to build smart cities in India. According to the report published by FDI INDIA, the revenue generated by the construction equipment industry in India was estimated around USD 6.5 billion in 2020 and the construction industry is expected to reach USD 1.4 trillion by the end of 2025, which will boost the market growth in India in the approaching years. Moreover, growing adoption of Industrial Internet of Things (IIoT), rise in the power generation capacity, technological advancements in smart pumps systems and increasing investments by leading players on research and development, are some of the additional actors supplementing the market growth. As per Ministry of Power's publication, the energy generation through renewable sources in India has significantly increased from 1,381.827 BU during 2020-2021 to 1.491.859 between 2021-2022, which will accelerate the market growth in India in the coming few years.
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However, the growth of India Intelligent Pump Market is hindered due to high capital cost of intelligent pump systems.
Based on Pump Type, the Centrifugal Pumps segment is projected to expand at a significant CAGR during the forecast period
Increasing use of centrifugal pumps in waste and water treatment sector for processing water along with its rising application in Heating, Ventilation and Air Conditioning (HVAC) systems, are some of the factors responsible for the segment's growth.
Based on Component, the Control System segment is expected to grow at a remarkable CAGR over the forecast period
Increasing application of intelligent pumps in oil and gas and water & wastewater sectors, are propelling the growth of the segment
Based on End-User, the Building Automation segment is predicted to capture the largest market share during the forecast period
Government initiatives to promote the use of clean energy, expansion of the sector, expansion of the smart cities network, rapid industrialization and rising disposable incomes, are some of the important factors augmenting the growth of the segment.
Key Development:
In Nov 2018, Grundfos Pumps India Pvt. Ltd., have invested around USD 17.5 million to set-up its pump production unit in Tamil Nadu.
Market Segmentation
India Intelligent Pump Market by Pump Type
Centrifugal Pumps
Positive Displacement Pumps
India Intelligent Pump Market by Component
Control System
Variable Drives
Pumps
India Intelligent Pump Market by End-User
Building Automation
Water & Wastewater
Oil & Gas
Chemicals
Power Generation
Other Industries
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