Indian Pump manufacturers growing at 10% CAGR
industry has been growing at an annual CAGR of 10%, while the international CAGR is 6% due to the surge in the infrastructure development, growth in agriculture and other water intensive industries.
While the domestic market for Indian pumps is growing at 16 to 18 per cent, there has been stagnation in the global growth rate. Pump exports are said to hover around ` 1,500crore, out of the total estimated production of ` 10,000 crore in the country. Indian pump manufacturers do not see Chinese pumps as a threat to their survival. “They may have been on edge on the price front, but not on quality. There are few takers for imported Chinese pumps,” says an industry source.
“There are some 800-odd manufacturers in the Pump City, Coimbatore, which accounts for about 50% of the pump production in the country. The motor and pump industry in Coimbatorecaters to over 40%