Overview

Water pumps are one of the most crucial devices used for various purposes. Over the years, water pump has evolved significantly with rising use in various sectors including commercial as well as residential. There are two major types of water pumps namely centrifugal pump and positive displacement pump. Centrifugal pumps are deployed for medium head and discharge. Water pumps are operated by different sources of energy including electric, fuel engines, or wind power. Although both water pumps are used to move water, centrifugal places use a rotating impeller to pressurize the discharge flow.
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The Thailand water pump market was valued US$ 22.9 Mn in 2019 and expected to reach US 37.0 Mn by 2027.

Market Driver

Growing expansion of land under cereal production is expected to boost the Thailand Water Pump market growth over the forecast period

Thailand is categorized as an emerging country with a majority of population involved in the agriculture industry. Growth of domestic agriculture sector is linked with rising land under cereal production and arable land and also growing micro-irrigation in small farms. As a result of this, the demand for centrifugal pumps below 30HP has increased significantly. According to the International Monetary Fund (IMF) land under cereal production and arable land in Thailand increased by 1.5% to 168,593.7 hectares in 2014 as compared to that in 2013. Hence, these factors are expected to propel the Thailand water pump market growth in the near future.

Market Opportunity

High growth of construction industry and rising disposable income can provide excellent growth strategies

The construction industry in Thailand has witnessed massive growth in the recent past, with rising public as well as private infrastructure. Moreover, disposable income across Thailand is rapidly increasing with consumers spending a substantial amount on infrastructure. Market players can capitalize on these untapped opportunities and enhance their market potential.

Market Restraint

Price sensitivity in Thailand is expected to hinder the Thailand water pump market growth over the forecast period

The presence of a large number of Chinese manufacturers in Thailand that are offering a low-priced centrifugal water pump is the major restraining factor. For instance, centrifugal water pumps sold by Chinese manufacturers cost 25% to 30% lesser than similar offerings from global and regional brands in Thailand. Thus, these factors are expected to hamper the Thailand water pump market growth in the near future.

Market Trends

Rising merger and acquisition activities among market players
Major companies in the market are focused on merger and acquisition activities, in order to enhance the market position and gain competitive advantage. Following acquisitions were recorded in 2013 including Xylem Inc. acquire PIMS Group, Dover Corporation acquired Finder Pompe S.r.l., DXP Enterprise acquired Alaska Pump and Supply, Inc. Furthermore, in 2014, Sulzer Ltd. acquired 75% of Saudi Pump Factory.Read more@https://www.coherentmarketinsights.com/press-release/thailand-water-pump-market-3093

Rising dominance of Chinese water pump manufacturers in Thailand
Thailand is a hub of Chinese players wherein they sell centrifugal water pumps at relatively lower prices. As a result of this, many global players in the market are focused on price differentiation, in order to target price-sensitive customers. Furthermore, this trend is expected to continue during the forecast period.

Competitive Section

Key players operating in the Thailand water pump market are Grundfos, Venz Industrial Co., Ltd., Sulzer Ltd., Hung Pump Group, KSB AG, Nanfang Pump Industry Co. Ltd., Kirloskar Brothers Limited, Shanghai Kaiquan Pump Group Co Ltd, Flowserve Corporation, and Ebara Corporation.

Key Developments

Major companies in the market are involved in product development, in order to expand the product portfolio. For instance, in February 2019, Kirloskar Brothers Limited launched a KU6- oil-filled 6” borewell submersible pump in three variants.
Key players in the market are focused on agreements and contracts, in order to gain a competitive edge in the market. For instance, in October 2019, Flowserve Corporation entered into a contract with governments of KSA and UAE to provide main pumps for two sea water reverse osmosis destination plants Rabigh and to Taweelah.
Segmentation
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Market Taxonomy:

By Product Type
Centrifugal Water Pump
Monobloc Water Pump
By Pump Capacity
Small/Mini Pumps
Up to 3 HP
3-5 HP
Medium Size Pumps
5-10 HP
10-15 HP
15-20 HP
20-30 HP
By End-Use Application
Industrial
Domestic
Agriculture
By Region
Northern Thailand
North Eastern Thailand
Central & Eastern Thailand
Southern Thailand
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