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CHICAGO , Dec. 8, 2020 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this India pump market report.
The pump market size in India is expected to grow at a CAGR of approximately 7% during the period 2020−2026.
Key Highlights Offered in the Report:
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India Pump Market – Segmentation
India Pump Market by Product Type
India Pump Market by End-user
India Pump Market – Dynamics
In contrast to the grid or diesel-powered water pumps, solar-powered pumps are generated by photovoltaic panels or the radiated thermal energy available from captured sunlight. Owing to lower operating and repair costs, the operating costs of solar-powered pumps are more economical and have a less environmental impact than pumps powered by other sources. In situations where the power supply comes from the grid and no grid, on-grid or off-grid solar pumps are useful. As a result, higher demand is generated in areas with inefficient power and grid-free electricity supply. In addition, the demand for solar pumps in irrigation is growing, especially in India , as it has cost benefits and reduces reliance on electricity in many areas. Programs related to urbanization and industrialization policies are expected to offer opportunities for the pump market during the forecast period.
Key Drivers and Trends fueling Market Growth:
India Pump Market – Geography
Consumers in South India are aware of the benefits of star ratings, thereby purchasing star-rated pumps. They have high expectations for pump sets within the limits of their buying power to provide a hassle-free experience. The region's water level is very uneven, ranging from 170 to 500 ft, thereby driving the market for submersible pumps. Coastal regions such as West Godavari and Chittoor have greater water volumes as compared to regions such as Nizamabad. As a consequence of the continuous decrease in groundwater levels, submersible pumps are becoming popular among farmers. In different areas, however, voltage fluctuations and low voltage levels are very prevalent. Electricity for farmers is subsidized and, regardless of the units consumed, they have to pay a set price for the electricity bill.
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India Pump Market by Geography
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