The Thailand water pump market has been reported to show a healthy CAGR from 2015 to 2021. In what seems to be a market solely driven by intense demand, the Thailand water pump market continues to grow in order to meet this growing demand.
With the key growth driver being the demand for water, the secondary driver consequently becomes the scarcity of water. Global bodies are adopting numerous regulations to ensure recycling of water in order to keep the levels of usable water sustainable. The entire South Asian region is one of the most competitive markets for water pumps, mostly due to the low costs of manufacture. This allows many global entities to set up manufacturing plants in and around Thailand to help the local market grow. As for exports, the key regions that seem to have been targeted are North America and Europe.
The Role of Thailand in the Global Water Pump Market
Nearly 70% of the global water pumps market was taken up by centrifugal pumps in 2014. The rest was taken by positive displacement pumps. In this global scenario, the Asia Pacific region excluding Japan showed, and will continue to show, a phenomenal level of market dominance.
In this region lies Thailand, a country that has only recently begun its journey of industrialization, rather later in comparison to other nations in Asia Pacific. The economy of Thailand relies heavily on exports, which actually account for more than two-thirds of the nation’s GDP. Even agriculture holds a lower GPD percentage in comparison to transport and logistics in the current scenario.
A Statistical Representation of the Thailand Water Pump Market
Monoblock pumps are gaining steam in terms of production and exports in the Thailand water pump market, owing to a growing trend of small scale farming, which needs lesser space and low-horsepower centrifugal pumps. The key concept in small scale farming is micro-irrigation, which revolves around the use of smaller pumps. This is creating a growing share for monoblock pumps, a segment of the Thailand water pump market that had accrued 36.5% of the market. Till 2014, the Thailand water pump market was dominated by submersible pumps, which occupied 63.5% of it.
In terms of end users, the industrial segment is expected to grow at the fastest CAGR up to 2021 in the Thailand water pump market. As for agriculture, the segment will continue to gain BPS till 2021, even after its dominance in 2015.
Structure of the Thailand Water Pump Market
The water pumps market in Thailand utilizes simple horsepower capacity to segregate the various pumps manufactured. The segments include 20-30HP, 15-20HP, 10-15HP, 5-10HP, 3-5HP, and small sub-3HP pumps.
One of the key features of the Thailand water pump market is its uniformity in product quality. Regardless of whether a water pumps is to be used in agriculture or in the industrial sector, the manufacturing quality remains more or less similar, creating a rather straightforward classification of varieties in the market.