India Submersible Pumps Market 2023 - Analysis and Industry Forecast
Growing urbanization and industrialization as well as increasing public & private infrastructural development activities have propelled the demand for submersible pumps in India. Further, need for better and advanced water pumping solutions in several applications has also driven the growth of submersible pumps in India . Additionally, features such as low maintenance cost, energy efficient, less noise, and water proof are providing an added advantage over the traditional pumps. India submersible pumps market is projected to grow at a CAGR of 9.2% during 2017 to 2023. Open well pumps segment registered majority of the revenue share in 2016, owing to major adoption in agriculture application. In the overall submersible pumps market, agriculture application acquired major revenue share followed by residential & commercial and industrial applications. The agriculture sector in India is projected to witness substantial growth over the coming years, attributed to increasing fac...