LONDON, Sept. 20, 2016 /PRNewswire/ -- The water pump is a mechanical device the uses pressure or suction to transport water from one location to another. Centrifugal water pump offers numerous advantages such as high efficiency for water transport, uniform & continuous discharge, easy installation & maintenance, and low initial cost. Centrifugal water pumps find use in various applications. High growth in industries such as pharmaceuticals and water and wastewater treatment is expected to increase overall revenue in South Asian markets. Growth in the water industry is expected to stem from the need for better management of water resources, including water recycling, rainwater harvesting, storage and improved irrigation processes. The chemicals and petrochemicals end-user industries in the region are anticipated to grow significantly over the next few years.
In 2014, centrifugal pumps accounted for over 70% market share of the global water pump market in terms of revenue, while remaining share was contributed by positive displacement pumps. Asia Pacific excluding Japan (APEJ) held the largest share in the global market in 2014 and is expected to retain its dominance over the forecast period.
Thailand is a newly industrialized country. Its economy is heavily export-dependent, with exports accounting for over two-third of its gross domestic product (GDP). Industrial and service sectors are the main sectors in the Thailand gross domestic product, with the former accounting for 39.2% of GDP. Thailand's agricultural sector accounts for 8.4% share of GDP – lower than the trade and logistics and communications sectors, which account for 13.4% and 9.8% shares of GDP respectively.
The report offers updates on the advancements in the Thailand water pump industry. This report covers Thailand water pump market performance in terms of value and volume contribution. The report analyzes key trends, drivers, and restraints, which are influencing the Thailand water pump market.
The Thailand water pump market is anticipated to register a healthy CAGR during the forecast period. Factors fuelling market growth include low manufacturing costs of water pumps, expansion of water supply network in the region, major urbanization and industrialization, increasing arable land and growing land under cereal production. Thailand is an agriculture-driven country. Growth in the agricultural sector is leading to growing trend of micro irrigation in small farms, which is projected to increase deployment of centrifugal water pumps.
Deployment of monobloc pumps is increasing due to the growing trend of family farming, which is carried out on small agricultural plots and requires low HP centrifugal pump for micro irrigation purposes. Pumps for domestic and agriculture application offer minimal product differentiation in terms of cost and quality. Similar buyer trends apply to both end-user segments.
The Thailand water pump market has been segmented on the basis of pump type into the submersible and monobloc. The submersible water pump segment is estimated to dominate the market with 63.5% of the overall Thailand water pump market share in 2015, followed by monobloc water pump segment with 36.5% share. Growth of the monobloc water pump segment over the forecast period is expected to be driven by increasing demand for application in agro-industrial and food production purposes.
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 2021.
By pump capacity, the Thailand water pump market is segmented by HP range into 3HP, 3–5HP, 5–10HP, 10–15HP, 15–20HP and 20–30HP. Smaller HP ranges are expected to witness above average growth during the forecast period.
By Region, Central & Eastern Thailand region was the largest market in terms of revenue contribution, accounting for 30.2% 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.
Key market participants covered in the report include Key players in the Thailand water pump market include Grundfos, KSB AG, Kirloskar Brothers Limited and Ebara Corporation. Global players such as Grundfos, Sulzer Ltd., and Flowserve Corporation focus on research and development initiatives to introduce innovative products in order to attain sustainable advantages over the competition.
These market players also focus on expanding their regional presence through mergers and acquisitions. Water pump manufacturers in Thailand usually sell their products through distributors, who account for approximately 80% sales share as compared to 20% share via direct sales. Global and regional players in the Thailand water pump market focus on entering into long-term tie-ups with engineering, procurement and construction (EPC) companies and distributors. Chinese players lay emphasis on tie-ups with retailers to enhance customer reach.
The Thailand water pump market is segmented into:
Thailand water pump, by Pump Type
Submersible Water Pump
Mono bloc Water Pump
Thailand water pump, by End-use Application
Oil & Gas
Food and Beverage
Thailand water pump, byPump Capacity
Up to 3HP
Thailand water pump Market, by Region
Central & Eastern Thailand
Download the full report: https://www.reportbuyer.com/product/4040053/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/thailand-market-study-on-water-pump-industrial-segment-to-witness-highest-growth-by-2021-persistence-market-research-300331322.html