Thursday, May 29, 2014

Pumpkart 'Detailed Market Analysis'

Pumps are the backbone of the agriculture sector in India as water reaches fields by their virtue. In fact, pumps are essential for a number of other sectors as well, ranging from real estate, water distribution and power generation. Indian pump manufacturers are even exporting pumps to other countries, something that signifies an important trend. An interesting study of the pump market in India is presented in the following lines.

Market Share of Pumps by End Users

There are three important end users of pumps in India:

1. Domestic: Domestic pumps are used for Public water supply and sewage treatment. Rapid urbanization, major housing projects and growth in infrastructure are the main driving factors. The stress on the creation of new towns and cities will drive growth in this sector.

2. Industrial: Industrial pumps are used for waste water treatment, chemical supply, power plants and oil and gas. Technological advancements and rapid industrialization are the major driving factors for this sector.

3. Agriculture: Depletion in ground water, mechanization and awareness programs for farmers are the major driving factors for the Indian pump market. Errant monsoons cannot be trusted for a long period of time and every farmer ought to have a pump installed in his fields.

Market Trends:

An interesting study conducted by a premier marketing research agency provided some insights into the industry. The unorganized sector, which includes companies that offer cheaper pumps, but do not have the statutory approvals from the government, accounts for almost half of the market share. In fact, their pups enjoy a huge demand among the farmer community for their obvious cost benefits. Besides cost, low power consumption and easy availability of repairs and spares are the other two most important factors. Buying habits of the end consumers might be worth noting as well. Most farmers prefer to purchase pumps from the nearest pump retailer or a reputed dealer. As mentioned earlier, the primary factors considered by them are the following:

1. Price of the pump set
2. Energy consumption
3. Availability of spare parts and servicing

Farmers with small land holdings prefer cheaper pumps made by local manufacturers. On the other hand, those with larger land holdings and fat pockets prefer going for expensive ones that have high energy efficiency and preferably star rating. The advice from the retailer and immediate family and friends is taken into account while making purchases.

From where does the younger crop of farmers having seamless access to internet via laptops, tablets and Smartphones seek information? They need not be limited to the advice of the local dealer or retailer who is more concerned about his own profit than the overall good of the farming community. They can seek information about the various options, pump types and qualities and help the decision making members to choose the best pump for their fields. What do the new age farmers with unbridled access to technology have to say about this? Do let us know.


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