Egypt is one of the fastest developing countries in terms of economic growth across the Middle East. The agriculture sector consumes the maximum amount of water, corresponding to over four-fifths of the Nile River. The total cultivable land available as of 2016 amounted to 3.8 million hectares. Agriculture contributes over 14% of the country’s GDP, with a total income of 256.9 billion Egyptian pounds. Additionally, a rapidly expanding population pool has also augmented water usage for domestic purposes.
Based on these trends, the demand for centrifugal pumps to transport water is increasing. It is anticipated that the Egypt below 30 HP centrifugal water pumps market will reach a valuation of US$ 37.1 Mn by the end of 2020. The sheer simplicity of the pump’s design makes it easier to transport water to different areas, making them ideal choices for various end-uses. However, an increasing population also entails greater pressure on existing resources. Egypt’s rapidly expanding population is straining water availability, leading to acute shortages. This impediment is anticipated to hinder the market in the long-run.
“Given Egypt’s lengthy history of irrigation due to its close proximity to the Nile River, agriculture has always flourished across the country, prompting people to divert water into basins by constructing canals and boost farming. Taking cognizance of this, market players are vying for an opportunity to expand their product portfolio across the region,” infers an FMI analyst.
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Egypt below 30 HP Centrifugal Water Pumps Market- Key Takeaways
· Submersible pumps gained significant traction due to their wide applications for industrial and domestic purposes. These pumps have captured greater than half of the overall market share.
· Domestic application segment captured more than 40% of the overall market while industrial applications expanded the fastest at a CAGR of 5.5%.
· Monobloc and submersible pumps with a capacity of 25-30 HP experienced widespread application, whereas mini-pumps segment of 1-2 HP captured half of the total market.
· The Egypt below 30 HP centrifugal water pumps market expanded at a CAGR of 5.1% during the forecast period.
Egypt below 30 HP Centrifugal Water Pumps Market- Prominent Drivers
· Increasing forays regarding discovery of additional water sources is driving the demand for below 30 HP centrifugal water pumps across Egypt. This is due to acute water shortages from existing sources due to an expanding population.
· Growing environmental consciousness is prompting consumers to opt for cost-saving, energy efficient centrifugal water pumps for their daily activities.
Egypt below 30 HP Centrifugal Water Pumps Market- Key Constraints
· Political instability and high price volatility have been constraining market expansion of below 30 HP centrifugal water pumps due to disruptions in production cycles.
· Availability of substitutes in the form of foreign pumps is hindering growth prospects of regional market players.
Anticipated Impact of the Coronavirus Outbreak
With several end-use industries experiencing sluggish growth, the market for centrifugal water pumps has also taken a major hit due to the pandemic. Disrupted supply chains, insufficient inventory and a shortage of workforce in production units have contributed to reduced output. Additionally, the imposition of a nationwide lockdown has led to a reduction in economic activities, including agriculture, which has limited the uptake of below 30 HP centrifugal water pumps since the past three to four months. Fortunately, the impact is not as severe as it is on other industries. In fact, agricultural exports to other Arab countries has increased as a result of reduced imports from Europe, the Arab world’s primary source of agricultural commodities. Furthermore, the country has been increasing cultivation of less water-intensive crops such as potatoes to keep food supplies running. Based on this trend, adoption of below 30 HP centrifugal water pumps shall increase during the course of the pandemic.
Explore the below 30 HP centrifugal water pumps report consisting of illustrative figures, data tables and the table of contents. You can also find detailed market segmentation on https://www.futuremarketinsights.com/askus/rep-eg-704
Competition Landscape
The Egyptian below 30 HP centrifugal water pumps market is highly consolidated, with regional players accounting for 70% of the overall market share. These market players are: KSB Pumps Ltd., Xylem Inc., Omega Egypt Co., Flowserve Corporation, Wilo SE, Calpeda S.p.A and Grundfos. These companies are largely focusing on innovations and technological advancements to offer a wider product portfolio and attract more customers. A key development in this respect is the introduction of photovoltaic powered centrifugal water pumps which not only increase performance but also aids in environmental protection. Partnerships and collaborations are also helping uplift market prospects for prominent players. For instance, Grundfos has proceeded with its acquisition of Eurowater in order to provide pioneering solutions to tackle global water challenges.
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