Industry insiders report a 10 percent increase in demand for pump sets as Coimbatore boasts over 500 pump set manufacturing companies and more than a thousand companies producing spare parts, providing employment to over a lakh individuals.
Coimbatore: The demand for pump sets, crucial for household and agricultural purposes, has seen a notable increase across India. Industry professionals have revealed this rising trend, emphasizing the significant role of Coimbatore in meeting this demand. Coimbatore's manufacturing units contribute a substantial 50% to the total pump set requirements in the country. The region boasts over 500 pump set manufacturing companies and more than a thousand companies producing spare parts, providing employment to over a lakh individuals.
The pump set industry had experienced a decline due to various factors, including the global economic slowdown. However, the demand for household and agricultural pump sets has recently started to increase, and industry experts anticipate steady growth in the coming months.
Vignesh, the head of the South Indian Engineering Manufacturers Association (SEEMA), stated, "The pump set industry is recovering from its slump. There has been a 10% increase in the overall pump set demand compared to last year. We expect this trend to maintain a stable industry growth in the coming months."
Despite Gujarat also having active pump set manufacturing units, Coimbatore's products are highly regarded for their quality, not only in India but globally. This resurgence in demand is seen as a positive sign, instilling confidence among entrepreneurs.
Maniraj, the leader of the Coimbatore Pumpset and Spare Parts Manufacturers Association (COPMA), commented, "There's a definite rise in the demand for pump sets for home and agriculture. Even though raw material costs have increased, major manufacturers haven't raised pump set prices significantly. As a result, there's only about a 10% price difference between small-scale and major manufacturers' products, leading customers to prefer branded pump sets."
He further urged the Tamil Nadu government to retract the electricity tariff hike and ensure that 50% of government sector pump set purchases are mandatorily sourced from MSMEs.
The pump set industry had experienced a decline due to various factors, including the global economic slowdown. However, the demand for household and agricultural pump sets has recently started to increase, and industry experts anticipate steady growth in the coming months.
Vignesh, the head of the South Indian Engineering Manufacturers Association (SEEMA), stated, "The pump set industry is recovering from its slump. There has been a 10% increase in the overall pump set demand compared to last year. We expect this trend to maintain a stable industry growth in the coming months."
Despite Gujarat also having active pump set manufacturing units, Coimbatore's products are highly regarded for their quality, not only in India but globally. This resurgence in demand is seen as a positive sign, instilling confidence among entrepreneurs.
Maniraj, the leader of the Coimbatore Pumpset and Spare Parts Manufacturers Association (COPMA), commented, "There's a definite rise in the demand for pump sets for home and agriculture. Even though raw material costs have increased, major manufacturers haven't raised pump set prices significantly. As a result, there's only about a 10% price difference between small-scale and major manufacturers' products, leading customers to prefer branded pump sets."
He further urged the Tamil Nadu government to retract the electricity tariff hike and ensure that 50% of government sector pump set purchases are mandatorily sourced from MSMEs.