Industry expected to see 6.3% CAGR over 2016-2021, supported by infrastructure development plan, demand for new cars, and automotive export growth
While new exploration of oil field in India kicks in, ageing rigs and declining oil output will continue to slow demand from oil producers
Anticipated growth of Indian automotive market will be among the key drivers positively affecting the pumps, compressors, taps and valves industry’s turnover
Industry turnover grows by 4.8% in 2016, mainly due to significant increase in taps and valves’ turnover
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