Water shortage is one of the main factors driving demand for water pumps, as administrations across the globe are focused on the implementation of regulations regarding reuse and recycling of water in industries. This study covers comprehensive insights about market trends, volume (unit) and value (US$ Mn) projection, recent developments, and dynamics in the Thailand water pump market for the forecast period of 2019 - 2029. The market for water pump in Thailand is anticipated to grow at a CAGR value of ~6%. Rise in demand for water pumps is a result of massive industrialization and urbanization being observed in Thailand. Rising demand for effective social and industrial infrastructure, including that for energy and water, and retrofitting and replacement of aging components is supporting the growth of the Thailand water pump market.
Low Input Costs Will Drive the Demand for Water Pumps
The South Asian region is a global manufacturing hub as it offers manufacturers benefits like low input cost, abundant skilled labor, and easy access to raw materials and technology, especially from China, which is a global manufacturing hub. Local manufacturers of water pumps in Thailand are anticipated to flourish in the near future, and are anticipated to target export markets like Africa, East European Countries, and Latin America.
Thailand is classified as a developing country. Majority of the population in the country is engaged in the agriculture sector. Growing agricultural sector, linked with increasing cultivable land and land under cereal production, is leading to mounting trend of micro-irrigation in compact farms, which is projected to increase deployment of centrifugal water pumps below 30 HP.
Growing Preference for Energy Efficient Centrifugal Water Pumps
Rising demand for effective social and industrial infrastructure, including that for energy and water in developing regions, and retrofitting and replacement of aging components in developed regions is driving growth of the water pump market worldwide. As on 2014, Thailand is among the world’s top ten countries in terms of consumption of water for agro-industrial and food production purposes. This is providing significant impetus to growth of the water pump market in the region.
Increasing demand for water pumps is a consequence of massive urbanization and industrialization in developing countries. Water and wastewater, encompassing industrial and municipal segments together accounted for 33% of the world pump market in 2014 and is expected to remain dominant over the forecast period.
Market Segmentation in Brief
Central & Eastern Thailand region was the largest market in terms of revenue contribution, accounting for 30% share of the overall Thailand water pump market in 2014. The Bangkok area is one of the most prosperous parts of Central & Eastern Thailand and is a dominant contributor to the national economy, with the infertile Northeast being the poorest in similar terms.
By end-use application, the agriculture segment is projected to continue its dominance throughout the forecast period. Agriculture application segment is expected to gain BPS during the forecast period as a major portion of the country’s GDP is generated from agricultural activities. However, the industrial segment is forecast to register highest CAGR by 2029. Growth of the market in East Asia is mainly driven by increased adoption of water pumps in power plants, for the development of new infrastructure in the heavy industry, municipal wastewater treatment plants, irrigation and drinking water facilities.
Thailand Water Pump Market - Competition Landscape
The Thailand water pump market is a highly fragmented market and key market players held around 1/4 share of the total market in 2018. The top 10 market players in the Thailand water pump market collectively hold 15-20% of the total market share.
Some of the prominent manufacturers operating in the market are Grundfos, Sulzer Ltd., KSB AG, Kirloskar Brothers Limited, Flowserve Corporation, Ebara Corporation, Shanghai Kaiquan Pump Group Co Ltd., Nanfang Pump Industry Co. Ltd., Hung Pump Group, and Venz Industrial Co., Ltd.
A comprehensive analysis of the Thailand water pump market draws up the conclusion that the market is projected to grow significantly in the coming years. Central & Eastern Thailand segment is expected to account for a significant share in the Thailand water pump market. Deployment of monobloc pumps is increasing owing to the trend of family farming that is carried out on compact agricultural lands and requires less HP centrifugal pump for micro-irrigation purposes. Pumps for agricultural and domestic applications offer nominal product uniqueness in terms of quality and cost. Similar buyer trends apply to both end-user segments.
Persistence Market Research (PMR) recently published a study report on the Thailand water pump market. The report provides detailed valuation of the key market dynamics such as drivers, trends, opportunities, restraints, and detailed information about the Thailand water pump market structure. This market research report represents exclusive facts and figures about how the Thailand water pump market will grow over the forecast period.
Key indicators of market growth, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the water pump market over the forecast period.
The study is relevant for manufacturers in the water pump market, including water pump market stakeholders, distributors, suppliers, and investors, and it can also help them understand applicable strategies to grow in the Thailand water pump market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in Thailand water pump market can leverage the information and statistics presented in PMR’s research report.
The report includes facts & figures related to the macro as well as microeconomic factors that are impacting the growth of the Thailand water pump market. The study also offers actionable insights based on the future trends in the Thailand water pump market. Furthermore, regional players and new entrants can also use the information presented in this report to make business decisions and gain momentum in the Thailand water pump market.
Key Segments of the Water Pump Market
PMR’s study on the Thailand water pump market is divided into four segments, which are product type, capacity, end use, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Key Questions Answered in the Thailand Water Pump Market Report
Water Pump Market: Research Methodology
In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the water pump market and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by assistant analysts to ensure precision and reliability of the conclusions.
Secondary resources referred by analysts during the evaluation of the water pump market study, comprise of the facts and figures from UNESCO, IWA, WEF, IWRA, IDA websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.
Comprehensive information acquired from primary resources and secondary resources is validated from companies in the water pump market to make PMR’s projection on growth prospects of Thailand water pump market more accurate and reliable.