Ghana Domestic Water Pump Market Research Report: Forecast (2023-2028)
Market Definition
Water pumps are devices that help increase the water pressure to transfer it from one place to another. They are used extensively for agricultural, municipal, industrial, & residential purposes and also for transferring wastewater in sewage treatment plants. Most of these pumps are electrically-operated, but other energy-efficient alternatives like solar or photovoltaic (PV) water pumps are also gaining traction.
Market Insights & Analysis: Ghana Domestic Water Pump Market (2023-28)
The Ghana Domestic Water Pump Market is expected to grow at a considerable CAGR during the forecast period, i.e., 2023-28. The market for domestic water pumps in Ghana is import-dependent, where most of the country’s imports are from India, the UAE, and China. In 2020, the Covid-19 pandemic severely impacted the industry, with supply chain disruptions & a halt in construction activities.
However, since then, the market has been reviving, and future growth prospects have been generating, mainly by various ongoing projects associated with water & wastewater treatment plant development in the country, active government efforts toward attracting foreign investments, increasing expenditure on road & rail infrastructure projects, and the government’s plan to build 60,000 affordable houses for civil servants by 2030.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| Key Companies Profiled | HTC Waterpumps, Grundfos, Sulzer Pump, Xylem Inc., KSB SE & Co., Wilo SE, Others |
| Unit Denominations | USD Million/Billion |
Furthermore, rising energy costs & growing environmental degradation are also propelling the demand for water pumps. Additionally, the rapidly rising population levels are leading to burgeoning water requirements for residential applications, which would remain a significant factor in enhancing the Ghana Domestic Water Pump Market size over the forecast period.
Market Dynamics
Growth Driver: Growing Investments in Water & Wastewater Treatment Projects
High water scarcity levels in Ghana due to its extreme climate conditions have created the need for recycling wastewater for further use, like irrigation. The government is actively working on finding additional water resources and investing increasingly in the development of water & wastewater treatment plants in order to mitigate the water crisis, which is the prime aspect projected to drive the Ghana Domestic Water Pump Market during 2023-28.
Possible Restraint: Budget Issues, Price Volatility, & Political Uncertainty
The main aspects projected to hamper the growth of the Ghana Domestic Water Pump Market during 2023-28 include price volatility & political instability, which are the major issues for regional & international firms to enter Ghana and compete in the market, provided the low costs of water pumps in the country. Additionally, budget limitations for mega projects, as well as restricted imports, would further act as prominent growth restraints for the market in the coming years.
Market Segmentation
Based on Type:
Of them all, submersible water pumps are projected to maintain a prominent share in the Ghana Domestic Water Pump Market during 2023-28. It owes to their versatile use in the agriculture and water & wastewater treatment sectors, the rapidly increasing dependency on groundwater in the country, and the active government efforts toward discovering additional water resources to cater to the rising population levels. Despite the weak economic outlook, submersible pumps are in high demand in Ghana as recovery is likely in water utility applications. The surging water pollution levels and increasing funding for infrastructural developments are escalating the need for energy-efficient water pumps to treat industrial wastewater.
As a climate adaptation measure, the government of Ghana is promoting small-scale irrigation. Improving income levels and changing dietary patterns among middle-income urban consumers in the country are instigating the need for large-scale production of high-value irrigated crops and, in turn, creating lucrative opportunities for small farmers. However, a lack of an energy source to pump water is preventing several farmers from cashing in on this prospect.
In Ghana, most small-scale irrigators have no access to a constant electricity supply, and those who have might find it too unreliable & costly for irrigation. In addition, petrol & diesel pumps that involve high fuel & maintenance costs are also expensive for smallholders. Hence, solar water pumps or photovoltaic (PV) pumps are emerging as an economically & environmentally friendly alternative to fossil fuel pumps.
These devices run on electricity generated by photovoltaic (PV) panels and are used for pumping water into a storage tank for livestock, drinking, or irrigation purposes. One of the most prominent advantages of solar pumps is their reliability in remote areas owing to their low maintenance cost once installed. Several private sector companies are showing active interest in capitalizing on this potential by expanding the market for small-scale irrigation in Ghana, which projects remunerative prospects for the domestic water pump market in the country over the coming years.
Based on Application:
Here, groundwater intake is a crucial application of domestic water pumps and thus contributes notably to the market expansion. It owes to the high--level of water scarcity in Ghana, which is why groundwater is the primary source of drinking water & other residential purposes in the country. The gradually reducing groundwater levels have resulted in an ever-increased need for domestic water pumps for agricultural, drinking, & other household purposes.
Subsequently, the mounting use of bore wells to extract underground water is accelerating the demand for domestic water pumps. Moreover, the government of Ghana is making active efforts toward water & wastewater treatment projects, as the use of treated wastewater can help relieve stress on unsustainable water resources. Hence, as long as water scarcity concerns exist in the country, the demand for domestic water pumps for groundwater intake shall continue rising.
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Frequently Asked Questions
A. The Ghana Domestic Water Pump Market is expected to record a considerable CAGR during 2023-28.
A. Various ongoing projects associated with water & wastewater treatment plant development in the country and increasing expenditure by the government on road & rail infrastructure projects are the prime factors projected to drive the Ghana Domestic Water Pump Market during 2023-28.
A. HTC Water Pumps, Grundfos, Sulzer Pump, Xylem Inc., KSB SE & Co., and Wilo SE are the key companies participating in the Ghana Domestic Water Pump Market.
A. The groundwater intake application is projected to provide profitable opportunities to the Ghana Domestic Water Pump Market during 2023-28.
