Thailand water pump market is majorly driven by the agricultural sector of the country. Water pumps are extensively used for irrigation purposes in the farming industry. They are efficient in extracting water from underground wells or nearby water sources and distributing it through pipelines for irrigation of crops.
Various types of water pumps like centrifugal pumps, submersible pumps and self-priming pumps are commonly used in Thai agriculture. Adoption of advanced water pumps is increasing among farmers as they provide uniform water pressure and high discharge rates. This ensures adequate and timely supply of water to crops, thereby improving agricultural yield.
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 KSB AG, Milton Roy, Xylem, Grundfos, and Ebara Corporation. These players dominate the market with their huge product portfolio and strong distribution network across the country.
Increasing agricultural activities in Thailand is a major factor driving the Thailand Water Pumps Market Growth. With over 40% population engaged in agriculture, irrigation requirements are continuously rising. Various government schemes to promote modern farming are also boosting the sales of agricultural water pumps.
Technological advancements are helping water pump manufacturers to develop more efficient and durable models. The introduction of VFD controlled pumps, smart pump systems, and energy efficient motors are improving pump performance as well as saving electricity. This is encouraging wider adoption of advanced water pumps among agricultural and industrial users.
Market Trends
- Solar water pumps: Considering the hot climate and abundant solar energy potential, adoption of solar water pumps is gaining popularity in Thailand. They provide low-cost irrigation solutions for small farms located in remote areas without electricity access.
- Digitization of water pumps: Leading manufacturers are incorporating IoT connectivity and data monitoring capabilities in pumps. This allows remote monitoring and predictive maintenance of pumps, improving operational efficiency.
Market Opportunities
- Wastewater industry: With growing urbanization and industrialization, demand for wastewater management equipment including pumps is on the rise. Several government projects to develop wastewater treatment infrastructure can boost pump sales.
- Public water supply: Modernization and expansion of municipal water supply networks across major cities of Thailand offers significant opportunity for water pump suppliers and installers.
Impact of COVID-19 on Thailand Water Pump Market Growth
The outbreak of COVID-19 pandemic has adversely impacted the growth of Thailand water pump market in 2020. During the initial months of lockdown, the demand from key end-use industries such as agriculture, mining, municipal water supply experienced a significant decline. Disruption in the supply chain and logistic activities led to shortage of raw materials for pump manufacturers. This also forced the industries to either temporarily shut down or reduce their operations, which restricted the pump installations across various applications.
However, post lockdown with resumption of economic activities and infrastructure projects, the market is expected to witness steady recovery from 2021. The government's push for agricultural and irrigation development projects is anticipated to boost the demand. Moreover, rising importance of clean water availability and pandemic preparedness is compelling industries and municipalities to upgrade their existing systems with energy efficient and advanced pumping solutions. This presents new opportunities for water pumps integrated with smart control technologies.
The pandemic has emphasized the need to strengthen rural water infrastructure for ensuring adequate supply. The focus on decentralizing water resources and expanding distribution networks in remote areas bodes well for market players. They need to diversify their product portfolio, optimize distribution channels and offer tailor-made financing options to cater to evolving demands from different end-users. Collaborating with local authorities for Government-funded projects can help gain longer-term contracts and accelerate the recovery momentum in the post COVID phase.
Thailand being an agrarian economy, the Central region generates highest demand for water pumps, driven by irrigation requirements in rice farming and fruit cultivation industries. The region accounts for over 30% of the total market value, led by provinces of Bangkok, nonthaburi, Pathum Thani and Ayutthaya.
The Northeastern region, comprising provinces like Khon Kaen, Nakhon Ratchasima and Surin is poised to witness fastest growth during the forecast period, owing to extensive Government investments towards expanding piped water networks in rural towns. Various multi-crore projects are ongoing to ensure tap water connectivity for all households by 2027, thereby necessitating installation of thousands of new pump sets. This makes Northeast an important and rapidly emerging market for players to tap into.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
