New York, NY -- (SBWIRE) -- 03/21/2016 -- Introduction

Increasing demand for water pumps is a consequence of massive urbanization and industrialization being witnessed in developing countries.Water scarcity is one of the key factors driving demand for water pumps, as governments across the globe focused on implementation of regulations regarding recycle and reuse of water in industries.

The South Asian region remains highly competitive on a global level due to low manufacturing costs. This is anticipated to provide a boost for global manufacturers to set up manufacturing facilities in this region and also help local manufacturers flourish. Europe and North America are expected to be the key target regions for exports.

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Market Value and Forecast

The Thailand water pump market is anticipated to register a healthy CAGR during the forecast period. Factors fuelling market growth include low manufacturing costs, expansion of water Supply network, major urbanization, and industrialization, increasing arable land and land under cereal production. Thailand is an agriculture-driven country. Growth in the agricultural sector together with increasing arable land and land under cereal production 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.

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Segmentation by Pump Type

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.

Segmentation by End-use Application

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. 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.

Segmentation by Pump Capacity

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.

Important Regions

The Thailand water pump market has been segmented into four political regions, namely, Northern Thailand, North Eastern Thailand, Central & Eastern Thailand and Southern Thailand. 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. Southern Thailand market is projected to lose 80 BPS during the forecast period. The region is part of a narrow peninsula, with the distinctive climate and terrain. Its economy is driven by rice cultivation and rubber production. Mountainous terrain and absence of large rivers are conspicuous features of this region.

Key Players

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.

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