2023: Grundfos Vietnam Co., developed an innovative series of end-suction pumps aimed at promoting the development of smart & sustainable cities in Vietnam. The new NK and NKE ranges represent a significant advancement in terms of energy efficiency, connectivity, and durability, taking end-suction pump technology to a higher level.
According to MarkNtel Advisors study, The Vietnam Water Pumps Market size is estimated to grow at a CAGR of around 8.3% during the forecast period, i.e., 2024-30.
The rising farmer demand for high-quality agricultural pumps, particularly those integrated with IoT (Internet of Things) and GSM (Global System for Mobile Communications) technologies, is shaping notable trends in the Vietnam Water Pump Market. As farmers increasingly seek to optimize their operations & improve efficiency, there’s a growing preference for advanced pump systems that offer enhanced functionality and remote monitoring capabilities.
Integrating IoT and GSM-based features allows farmers to remotely control & monitor pump operations, adjust settings as needed, and receive real-time updates on performance and usage. This not only streamlines irrigation and water management processes but also helps farmers make data-driven decisions to maximize crop yield and resource utilization. Consequently, these trends indicate a shift towards more technologically advanced and sustainable water pump solutions in Vietnam.
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Market Growth Driver: The increasing adoption of technological advancements in agriculture, as evidenced by the transition from traditional to smart farming techniques, serves as a significant growth driver for the Vietnam Water Pumps Market. With rising food demand and escalating labor expenses, farmers in Vietnam are increasingly turning to modern machinery to enhance productivity & efficiency. This shift is particularly notable in the agricultural sector, where the usage of innovative technologies like agricultural pumps is becoming indispensable.
These pumps play a crucial role in optimizing water usage and irrigation processes, thus addressing the evolving needs of farmers and ensuring sustainable agricultural practices. Additionally, the reduction in farmers’ effort and total time consumed, facilitated by modern machinery, including agricultural pumps, further fuels the demand for such equipment in the Vietnam market.
Vietnam Water Pumps Market Key Players:
EBARA Vietnam Pump Company, Grundfos Vietnam Co., Ltd, HAPUMA, Intech Pumps Vietnam Company, Iwaki Co., Ltd., KSB Vietnam Co., Ltd., Sai Gon Industrial Service, Tsurumi Manufacturing Co., Ltd., WILO SE, ITT BORNEMANN GmbH, others
Market Segmentation Overview:
By Power Rating
-Up to 0.25HP
-0.25-0.5HP
-0.5 HP-1HP
-1HP-1.5HP
-Above 1.5HP
By Price Range
-Economy
-Medium
-High
-Premium
By End User
-Oil & Gas
-Power Generation
-Residential
-Agriculture & Irrigation
-Commercial Building
-HVAC
-Fire
-Chemicals
-Water & Wastewater
-Food & Beverage
-Others
The Agriculture & Irrigation sector significantly boosts the growth of the Vietnam Water Pumps Market due to its heavy reliance on water pumps for crop irrigation. In Vietnam, where agriculture plays a vital role in the economy, efficient water management is crucial for maximizing crop yields. Water pumps are essential for drawing water from various sources, such as rivers, wells, or reservoirs, and distributing it to farmland for irrigation purposes. The increasing adoption of modern irrigation techniques and the expansion of agricultural land, further drive the demand for water pumps in the agriculture & irrigation sector, thereby fueling market expansion in Vietnam.
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By Region
- North
- South
- Central
The Vietnam Water Pumps Market Recent Development
2022: Ebara Vietnam Pump Company Limited introduced EBARA’s latest impeller design, known as “Shurricane,” which employs an innovative hydraulic design approach to enhance pump efficiency while minimizing axial thrust load.
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