How is the Vietnam Pumps Market is Positioned?
Around a decade ago, the market for pumps in Vietnam was completely import driven with majority of the domestic demand being met through imports from Japan, China, Germany and Malaysia. However, import from Japan and China had dominated the pump market as majority of European pump manufacturers has setup their manufacturing facilities in China and Japan due to presence of low labor and operating costs in these countries. The high cost of investment and working capital had kept several domestic manufacturers away from the Domestic production of pumps. The entry of manufacturers producing and selling domestic pumps in the country resulted into more number of customers (including the government) to procure pumps from these brands. Hai Duong became the initiator for domestic production in Vietnam. Thus, increasing demand for domestically manufactured pumps has caused imports to decrease in recent years. Global brands started their operations in Vietnam (through 100% owned Subsidiaries or domestic production), which has led to increasing investment from Global and Domestic players. This has further led market to enter into the growing stage.
The Government of Vietnam has been continuously increasing its investment on infrastructure, irrigation and wastewater treatment during this period due to increase demand for water indicated by the increased water consumption from 2016 in 2018.
Shift in customer behavior and buying patterns has also impacted market growth. End consumers were more focused on the price of pumps as an important factor while making purchase decisions rather than quality, durability and after sales support service. This has led to a boom of Counterfeits rising in the market for Branded Pumps.
The revenue generated from the sale of pumps in Vietnam was evaluated at USD ~ million in the year 2013 which has increased to USD ~ million in the year 2018, at a positive CAGR of ~% during the above mentioned period.
Vietnam Pumps Market Segmentation
By End Users
The Vietnam pumps market can be divided into 3 Segments, Based on its End Users, The Industrial sector, which covers pumps used for Manufacturing, Mining, Power & Oil, and others. Government sector which covers pumps used in Government Projects and the Commercial sector, which covers pumps used in Building Construction and others.
Most Water flirtation plants are under private control. However, in 2011 the government has started Public Projects in Water treatment. As the number of Houses and Office spaces increases, there will be a rise in demand from the Commercial sector, similarly, as the number of Industrial projects increase, the demand from the industrial sector will also increase.
According to Industry Experts, there will not be any major change in the overall Demand from the following sectors so the proportion of Revenue will not change.
By Type of Pump
The overall market for Pumps is broadly divided into 2 Segments, based on the Type of pumps, Centrifugal and Positive Displacement Pumps.
Centrifugal pumps are just as a turbine in reverse, they can be used for boiler feed applications, wastewater management, flood protection, drainage and irrigation.
By Type of Centrifugal Pump
The Centrifugal pumps market is divided into 2 Segments, based on the Application of the Pump, Submersible and Non- Submersible Pumps.
A submersible pump also known as sub pump, electric submersible pump (ESP), is a device which has a hermetically sealed motor close-coupled to the pump body. The whole assembly is submerged in the fluid to be pumped. They are used in the Oil industry, Deep Well Drilling / Borehole Pumps, Irrigation systems.
Competition Scenario
The Market is moderately fragmented, with International players currently dominating the market. The Top 5 Market Players contain a mix of Domestic, but largely global players and accounted a significant Market Share in the year 2018.
Major Players which has been covered in the market include (International Players) Grundfos Vietnam, KSB Vietnam, Ebara Vietnam, WILO Vietnam and (domestic players) HAPUMA, Sai Gon Industrial Service and others. These market players compete on the basis of Price, In House Production Vs Imports, Industries Served, Warranty and Quality of Products.
Market Share For Major Players Of The Industry
The Highest Market Share belongs to Hai Duong Manufacturing JSC (HAPUMA). HAPUMA holds a large market share as it is the Oldest Player in the Market and a Local player with Large Scale Domestic Production.
EBARA holds the second highest Market Share along with Grundfos, with the Third Highest Market share. These firms are Global firms with 100.0% Owned Subsidiaries in Vietnam. These are among the First Global players to enter in the Market. EBARA and Grundfos both operate through different Models. EBARA follows domestic production and Grundfos Follows an Import Model.
Key Segments Covered:-
By Type of Pumps
Centrifugal Pumps
Submersible Pumps
Single Stage Submersible Pump
Multi-stage Submersible Pump
Non-Submersible Pumps
Positive Displacement Pumps
Rotary Pumps
Reciprocating Pumps
By End Users
Industrial Sector (Manufacturing, Mining, Power and Oil etc)
Government Sector (Government Projects)
Commercial Sector (Building Construction)
Key Target Audience:-
Distributors
Infrastructure Companies
Government Associations
Private Equity and Venture Capitalists Firms
Pump Manufacture
Time Period Captured in the Report:-
Historical Period: CY’2013-CY’2018
Forecast Period: CY’2019E – CY’2023E
Companies Covered:-
Grundfos Vietnam Co., Ltd.
KSB Vietnam Co., Ltd.
EBARA Vietnam Pump Company Limited
WILO Vietnam Co. Ltd
Hai Duong Pump Manufacturing Joint Stock Company
Intech Pumps
Tsurumi Pump Viet Nam Co., Ltd.
Iwaki Pumps Vietnam
Sai Gon Industrial Service
Datapoints Covered on Competition
Market Share
Revenue and Revenue Mix
Number of Plants
Production Area
Certifications
Number of Employees and Distributors
Warranty
Strength and Weakness
Best Selling Products
Product Portfolio
Keywords:-
Vietnam Pumps Market
Pumps Industry In Vietnam
Vietnam Circulator Pumps Market
Vietnam Rotary Pumps Market Sales
Ebara Vietnam Pumps Market Sales
KSB Vietnam Pumps Market Revenue
WILO Vietnam Pumps Market Sales
Investment Vietnam Pumps Market
Intech Pumps Vietnam Market Size
Vietnam Single Stage Pumps Market Sales
Vietnam Production Pumps Market
Vietnam Pumps Market Distributors
For more information on the research report, refer to below link:-
Related Reports:-
India Pumps Market Outlook To 2019 – Driven By Government Investments And Technological Advancements
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