Press Release

India Submersible Water Pumps To Be $ 1 Billion Opportunity by 2023

According to TechSci Research report, India Submersible Water Pumps Market By Type, By Operation, By End Use Industry, Competition Forecast & Opportunities, 2023’’, submersible pumps market is forecast to surpass $ 997 million by 2023, on the back of increasing demand for water supply, declining ground water levels and rising development in the country’s infrastructure sector. Moreover, in order to strengthen agriculture sector, the government of India has introduced policies such as ‘Saur Sujal Yojna’ and ‘KUSUM Yojna’, which are further boosting demand for submersible water pumps in India. India aims to increase its renewable energy capacity to 227GW by 2022, which is expected to augur well with the energy efficient pumps market in the country. Additionally, increasing investments in rural development programmes and electrification schemes launched by the government in irrigation sector are creating an upsurge in demand for submersible water pumps in the country .

Browse 45 market data Figures and Tables spread through 94 Pages and an in-depth TOC on "India Submersible Water Pumps Market"

On the basis of type, submersible water pumps market is majorly segmented into open well, borewell and non-clog. Borewell pumps hold a dominant share in India submersible water pumps market and the segment is anticipated to maintain its dominance during the forecast period as well due to their low operational cost and availability of a wide product range in the market. However, non-clog pump segment is the fastest growing product type mainly due to their increasing use in the municipal sector. Agriculture sector accounts for the largest demand for submersible water pumps in India on the back of continuous growth in agriculture production in the coming years.

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Rising government investments and initiatives to strengthen the industrial sector, coupled with growing product innovation and technology advancements by pump manufacturers are the other key factors which are expected to positively influence the submersible water pumps market in the country during the forecast period. “North Region garnered the largest share in India submersible water pumps market in 2017 owing to the presence of large and growing agriculture sector coupled with municipal sector development facilities in the region. Additionally, government initiatives such as Ganga Rejuvenation Scheme and Amrut Yojna would further drive the demand for submersible water pumps in India during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Submersible Water Pumps Market By Type, By Operation, By End Use Industry, Competition Forecast & Opportunities, 2023 has evaluated the future growth potential of submersible water pumps market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India submersible water pumps market.

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