Vietnam Pumps Market Report and Forecast 2032

Vietnam Pumps Market Insights & Analysis

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. The industry is currently expanding, and as there are not many large players in it, producers are allowed to set their prices for a range of centrifugal & positive displacement pumps. When purchasing these pumps, end users have placed more emphasis on the pump’s efficiency, quality, and aftersale support. Also, Vietnam’s pump market sales have increased as a result of new industrial manufacturing facilities & the rising demand for water filtering projects.

With the growing population & expanding industrial sectors, there is a rising need for water pumps across a wide range of applications. The country’s dynamic landscape of rapidly urbanizing, industrializing, and developing infrastructure is reflected across the Pump Market. The nation’s large agricultural base drives the demand for water in the agricultural sector as well, which is fully dependent on the pump for irrigation.

Vietnam Pumps Market FY32

• Study Period: 2020- 2032


• Base Year: 2024


• CAGR(2024-2032): 8.1%


• Market Value YYYY: USD 789.1 Million


• Major Players: EBARA Vietnam Pump Company Limited, Grundfos Vietnam Co., Ltd., Hai Duong Pump Manufacturing Joint Stock Company, Intech Pumps, Iwaki Pumps Vietnam, KSB Vietnam Co., Ltd., and Others 

Moreover, recently, the Vietnam Pumps Market has become dependent on imports. Most of the European pump suppliers established their manufacturing facilities in China & Japan due to minimal labor & operating costs in these nations. Furthermore, the significant investment & working capital costs have prevented some local manufacturers from producing pumps domestically. The amount of consumers (including governments) procuring pumps from these brands has increased as a result of manufacturers' production & selling of household pumps within the nation.

Additionally, consistent with worldwide trends, the Vietnam Pumps Industry has seen a push towards pump technologies that are more environmentally friendly & energy efficient. Government programs also seek to enhance infrastructure & water management, which would enhance the Vietnam Pumps Market size in the upcoming years.

Vietnam Pumps Market Dynamics

• 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.

• Fluctuating Prices of Raw Materials & Supply Chain Issues Hinder the Market Growth

Steel, iron, and other metals are key raw materials employed in the manufacturing of pumps. Geopolitical unrest, deviations in the global market, and supply chain interruptions could affect the price of these basic resources. Owing to this unpredictability, manufacturers may find it challenging to pass on higher production costs to consumers in a highly competitive market, which would eventually reduce their profit margin.

Moreover, the nation’s raw material supply chain can be unpredictable, particularly in light of the disruptions & disturbances worldwide. Production delays, higher expenses, and a loss of market share could lead to delays in the supply chain, further impeding the Vietnam Pumps Market.