Water Pump plays a vital role in circulation and transmission of water from the source to the point of demand and also in various industrial processes across Thailand. Development of urban infrastructure along with increasing construction of residential and commercial spaces has resulted in strong demand for water pumps in the country. The need for continuous and reliable water supply across industrial, agricultural and municipal sectors has further augmented the necessity of water pumps. The Thailand Water Pump Market is estimated to be valued at US$ 28.7 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2031. Key Takeaways Key players operating in the Thailand Water Pump Market are Grundfos, KSB Pumps Co. Ltd, Xylem Inc, Wilo SE and Denso Corporation. The key opportunities in Thailand Water Pumps Market Growth are increasing investments in water supply infrastructure projects across major cities coupled with rising demand from industries such as food and beverages, chemicals and paper and pulp. The government initiatives to achieve universal access to water will further foster the market growth. Globally, the Thailand water pump market is projected to witness significant expansion fueled by the growing export demand from Southeast Asian countries along with rapid industrialization and urbanization. The market players are focusing on new product launches, technological advancements and collaborations to capture wider market share. Market Drivers Rapid urbanization along with increasing construction activities across major economic centers like Bangkok, Chon Buri, Rayong etc. has augmented the demand for water supply infrastructure in the country. According to the World Bank, the urban population in Thailand is estimated to grow from 55% to 65% by 2030. This will accelerate the deployment of water pumps for storage and transmission purposes. Moreover, swelling investments in industries such as food processing, petrochemicals and power generation have also boosted the product adoption. The Thailand water pump market is anticipated to be driven by these factors over the forecast period. PEST Analysis Political: The government policies and regulations play a crucial role in shaping the water pump market. Thailand is emerging as a politically stable nation which attracts heavy investments in the infrastructure sector. Economic: Thailand economy is growing at a healthy pace which increases disposable incomes and boosts spending on agricultural as well as household applications driving demand for water pumps. Social: With rising living standards, consumers are willing to spend more on labor saving devices like water pumps for household and agricultural use. This presents an opportunity for water pump manufacturers. Technological: Advancements in materials and motor efficiencies have led to more energy efficient water pump designs. The advent of IoT enabled water pumps allows for remote monitoring and maintenance enhancing convenience. Data driven technologies help optimize water usage further boosting sales. Geographical Regions with High Market Concentration The central and eastern regions account for over 60% of the total water pump market in terms of value owing to large scale agricultural activities. Rice is the predominant crop requiring extensive irrigation infrastructure including pumps. The Chao Phraya river delta spanning central Thailand is the country's most productive agriculture belt and a major market for water pumps. Fastest Growing Geographical Region The northern region is expected to record the highest growth in demand for water pumps over the forecast period. Ongoing investment in irrigation projects along with tourism led infrastructure growth are driving pump installation. Moreover, a shift towards high value crops has raised the need for efficient irrigation solutions. This makes the northern province an emerging hotspot for water pump manufacturers and distributors.
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According to Research Report Insights (RRI) report, titled “Thailand Water Pump Market by 2021”, the Thailand water pump market is estimated to account for US$25.6 million by the end of 2021, exhibiting a CAGR of 6.3% in the forecast period from 2015 to 2021.
Certain factors boosting the Thailand market for water pump include expansion in network of water supply, expanding arable land, low cost of manufacturing, massive industrialization as well as urbanization and land under the production of cereal. As Thailand country is driven by agriculture, so development in agricultural sector along with growing cereal production and arable land leads to rising micro irrigation trend, which is anticipated to escalate the centrifugal water pumps deployment in various small farms.
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The Thailand water pump market is categorized into type, pump type, end-use application, pump capacity and regions. Based on pump type, the Thailand water pump market is fragmented into monobloc and submersible water pump. Among these, the segment of submersible water pump in 2015 was dominant with 63.5% of the total share in the Thailand water pump market after the segment of monobloc water pump which was over 36%. Over the forecast period, growth in the segment of monobloc water pump is estimated to be driven by growing market demand for food production application and agro-industrial purposes.
Based on end-use application, the Thailand water pump market is categorized into agriculture, domestic and industrial. Among these, the segment of agriculture is anticipated to remain dominant in the next six years and will also gain BPS as most GDP is generated from agricultural sector. However, the segment of industrial sector is projected to exhibit highest CAGR by the end of 2021. Based on pump capacity, the Thailand water pump market is fragmented through HP range into 5–10HP, 15–20HP, 3HP, 10–15HP, and 20–30HP. Ranges with smaller HP are anticipated to see average growth over the forecast period.
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Regionally, the segmentation is done into North Eastern Thailand, Southern Thailand, Northern Thailand, and Central & Eastern Thailand. Among these regions, in 2014 Central & Eastern Thailand was the market leader with revenue share of 30.2% of the total Thailand market for water pump. In this region, the Bangkok area is dominant and is the most prosperous region too in comparison with the Northeast region being infertile and the poorest areas while the market for Southern Thailand is expected to lose 80 BPS in the next six years. Also, the growth of East Asia market is primarily driven by the newer infrastructure development in heavy industry, rising water pump adoption in power plants, plants for municipal wastewater treatment, irrigation as well as water facilities for drinking.
Some of the major players in the Thailand water pump marketinclude KSB AG, Ebara Corporation, Grundfos and Kirloskar Brothers Ltd., among others.
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