Vietnam Pumps Market Statistics:
Market Size in 2025: USD 789.1 Million
Market Size in 2032: USD XX billion
Market Growth Rate 2025-2032: 8.1%
According to The Report Cube latest research study, The Vietnam Pumps Market was valued at USD 789.1 Million in 2023 and is anticipated to register a CAGR of around 8.1% during the forecast period, i.e., 2024-32.
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Vietnam Pumps Market Drivers:
- Rising Need for Technical Progression to Elevate the Industry Expansion
The Vietnam Pumps Market is expected to drive significantly with the rising acceptance of technical advancements in agriculture, as demonstrated by the shift from conventional to smart farming approaches. Farmers in the country are increasingly relying on sophisticated machinery to surge production & efficiency owing to the increasing food demand & growing labor costs. In the agricultural sector, where the usage of cutting-edge technologies like agricultural pumps is becoming essential, the progression is noticeable.
Moreover, the pumps are crucial for maximizing irrigation & water usage, meeting changing farmer demands & guaranteeing sustainable farming methods. Modern gear, such as agricultural pumps, has made it possible for farmers to work with less effort & spend less time, which has raised demand for such equipment in the market.
According to the report, prominent players operating in the market include:
- Royal Bank of Canada (RBC)
- TD Bank Group
- Scotiabank
- CIBC
- BMO Financial Group
- American Express Canada
- Capital One Canada
- National Bank of Canada
- Desjardins Group
- MBNA Canada
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Key Market Segmentation
- Market Share, By Power Rating
- Upto 0.25 HP
- 0.25 to 0.5 HP
- 0.5 to 1 HP
- 1.1 to 1.5 HP
- Above 1.5 HP
- Market Share, By End User Industry
- Industrial
- Oil & Gas
- Power Generation
- Manufacturing
- Mining
- Residential & Government (Govt. projects)
- Commercial
- Agriculture & Irrigation
- Commercial Building
- HVAC
- Chemicals
- Water & Wastewater
- Food & Beverage
- Others
- Market Share, By Region
- Southern
- Northern
- Central
Recent News and Developments in Vietnam Pumps Market
- Royal Bank of Canada (RBC) introduced a revamped RBC Avion Visa Infinite Credit Card with improved travel rewards, AI-powered spending insights, and real-time fraud alerts.
- Scotiabank joined hands with Cineplex to reintroduce its Scene+ credit card with high reward points on entertainment & groceries, aiming at younger demographics.
Vietnam Pumps Market FAQs
- What is the current size of the Vietnam pumps market and how is it projected to grow by 2032
The market is expanding due to infrastructure development, rising industrialization, and increased demand in agriculture and water management, with strong growth projected through 2032. - What are the key factors driving growth in the Vietnam pumps market
Growth is driven by urbanization, industrial expansion, agriculture irrigation demand, and investments in water supply and wastewater treatment projects. - Which pump types dominate the Vietnam market during the forecast period 2026–2032
Centrifugal pumps hold a major share, while demand for positive displacement and submersible pumps is rising in specialized applications. - How is the construction and infrastructure sector influencing the Vietnam pumps market
Massive infrastructure development and urban expansion are boosting demand for pumps in construction, drainage, and municipal projects. - Who are the leading players in the Vietnam pumps market and what strategies are they adopting
Key companies include Grundfos, KSB, Ebara, and domestic players focusing on technology upgrades, cost competitiveness, and distribution expansion. - What challenges could impact the growth of the Vietnam pumps market
Challenges include high energy consumption, competition from low-cost imports, and fluctuating raw material prices. - How is technological advancement shaping the pumps market in Vietnam
Smart pumps, IoT integration, and energy-efficient models are gaining popularity, driving adoption in industrial and municipal sectors. - What role does agriculture play in the demand for pumps in Vietnam
Agriculture contributes significantly, with pumps widely used for irrigation, drainage, and aquaculture applications. - What investment opportunities exist in the Vietnam pumps market during 2026–2032
Opportunities lie in water infrastructure, energy-efficient pump solutions, and partnerships with local distributors and government projects. - What is the long-term outlook for the Vietnam pumps market by 2032
The outlook is positive, supported by economic growth, sustainable water management initiatives, and modernization across industries.
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