India Single-Cylinder Pumpset Market Size, Share, Growth and Future Scope

The Office of the Registrar General & Census Commissioner, India, forecasts that the population of the country will rise from 1,326,155,000 in 2020 to 1,399,838,000 by 2026. Additionally, according to the 2021 World Population Review, India will become the most populous country in the world after 2030. The booming population will create immense pressure on the agrarian community, owing to which, the country will observe the widescale adoption of single-cylinder pumpsets in the coming years.

Moreover, the strong government support being provided to the industrial sector will also help the Indian single-cylinder pumpset market advance at a CAGR of 5.3% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $1,126.8 million in 2019 and it will reach $1,834.3 million by 2030. For instance, the central government has recently launched the Deen Dayal Upadhyay Gram Jyoti Yojana, Integrated Power Development Scheme, and Ujwal DISCOM Assurance Yojana to electrify the country, which have, in turn, propelled the requirement for pumpsets. 

The end use segment of the Indian single-cylinder pumpset market is categorized into agriculture, commercial, and industrial. Among these, the agriculture sector is expected to exhibit the fastest growth throughout the forecast years, owing to the surging preference of the farming community for using single-cylinder pumpsets for livestock watering and irrigation applications. Besides, the soaring crop production, on account of the vast population of India, will also augment the usage of pumpsets on unused arable land. 

Geographically, Uttar Pradesh was the dominant user of single-cylinder pumpsets in the last few years due to the large-scale wheat and sugarcane production in the state. According to the National Horticulture Board (NHB), Uttar Pradesh produced 33,815,500 tons of wheat in the financial year (FY) 2019–2020. Furthermore, the National Federation of Cooperative Sugar Factories Limited (NFCSF) reveals that sugarcane production in the state grew from 140,169,000 tones in FY 2016–2017 to 173,816,000 tons in FY 2019–2020.

Therefore, the rising need for food crops and the mounting government support being provided to the manufacturing industry will result in the widescale usage of single-cylinder pumpsets in India. 

Report this Page