In a defining moment that signals both resilience and strategic foresight, Grundfos India surged past the Rs 1000 crore revenue mark during CY24. Grundfos began its journey in India in 1998 with a goal to deliver smart and efficient pumping systems. What began as a promise, has now evolved into a full-fledged growth story.
THE GROWTH ENGINE OF IMEA
India is Grundfos’s fastest-growing location in the IMEA (India, Middle East and Africa) market, driving regional success and playing a crucial role in shaping the company’s global expansion strategy. This exceptional momentum has placed India firmly on the spotlight, prompting to intensify focus on the country as a strategic growth hub. Between 2021 and 2025, India achieved the highest business volume growth across all markets, with a compound annual growth rate (CAGR) of 15 per cent, a testament to its rising influence within the Group. “This impressive growth has been largely driven by the industry di vision,” said Shankar Rajaram, Area Sales Director – Industry (INDO region). “But in the last three years, our building services segment has also started contributing significantly to our business expansion,” he added. The four-pronged offerings of this Chennai headquartered company are industrial solutions, commercial and domestic building services and wa ter utility systems. These have found growing resonance in a country which is eager for smart and sustainable infrastructure.
INDUSTRIAL SOLUTIONS BUSINESS TAKES THE LEAD
In 2024, Grundfos India’s revenue composition was led by the industry division, which contributed approxi mately 53 per cent of the total. The remaining about 47 per cent came from commercial building services (CBS), domestic building services and water utility, with the lat ter being primarily driven by government-led projects. “The industrial pump segment in India has seen robust and sustained growth,” pointed Rajaram and con tinued, “we have seen a 15 per cent CAGR over the past four years, and the momentum is likely to hold, though macroeconomic and policy dynamics will ultimately shape the pace.” In this division, the company has built a solid foundation across key sectors including food & beverage (F&B), mobility, textiles and pharmaceuticals. Among these, the F&B segment holds a special place, not only for its volume but also for the precision it demands. In beverage manufacturing, accuracy in dosing is critical, whether it’s adding flavouring, carbonation, or preservatives. Grundfos meets this challenge with its advanced high-precision dos ing pumps, which ensure exact ingredient quantities, bottle after bottle. “Take Coca-Cola, for instance. Each bottle must contain the same consistent formula. Our high- precision dosing pumps are built for that level of accuracy and have been a core offering in F&B,” ex plained Rajaram.
SMARTER, GREENER AND EFFICIENT COOLING SOLUTIONS
Grundfos also plays a critical role in cooling systems, supporting both process cooling (to protect equipment and ensure production stability) and comfort cooling (for factory staff). Historically, cooling systems in industries were operated with fixed-speed technology, limiting energy efficiency. Today, the focus has shifted to preci sion energy metrics such as kilowatt- hours per tonne of cooling. The industry standard has improved from 1.1 to around 0.85 kW per tonne, and Grundfos is helping push that even lower to 0.8 or even 0.75, a level that can deliver substantial energy savings. So where exactly does Grundfos fit in the cooling process? In cooling systems, there are two primary technologies: refrigerant-based and chilled water-based. Grundfos is particularly influential in chilled water systems common in greenfield bottling plants and industrial campuses. Once a chiller system is designed, the next major energy consumer is the pump, followed by the cooling tower. Here, Grundfos goes beyond simply sup plying pumps: it offers integrated system optimisation, working with chiller and tower manufacturers to enhance the entire cooling loop’s efficiency with smart control technologies.
RETROFITS A HUGE OPPORTUNITY
Collaboration with top HVAC providers enables Grundfos to deliver these integrated solutions at scale. With the shift from fixed-speed to variable-speed systems, energy savings are now possible throughout the day, depending on fluctuating ambient temperatures. “Our strength lies in seamlessly tying together chillers, pumps and cooling towers into a cohesive, energy-optimised solution,” highlighted Rajaram. Notably, Grundfos’s role isn’t limited to new installations. The company is also active in retrofit projects by upgrading older systems. “The real untapped opportunity lies in the 80 per cent of facilities still operating with outdated systems,” pointed Rajaram.
THE NEXT FRONTIER
New opportunities too are emerging in a big way in India, spurred by government-led efforts in manufacturing and data sovereignty. Sectors such as semiconductors and new energy technologies are expected to grow two-to three times faster than traditional industries for Grundfos over the next few years. In semiconductor manufacturing, ultra-pure water (UPW) is mission-critical. As a leading provider of UPW treatment systems, Grundfos offers 24/7 operational re liability and predictive maintenance analytics. “These solutions go beyond just pumps, offering end-to-end water treatment systems tailored for the semiconductor industry,” pointed Raghuram. Such projects often rely on river water and must comply with strict zero liquid discharge norms, reflecting a growing alignment between government policy and global environmental standards.
REALISING THE POWER OF LOCALISATION
However, according to Rajaram, localisation is the key. “Success in Europe doesn’t guarantee success in India. Indian customers are extremely discerning,” he explained. Grundfos is now combining global technology leadership with local customisation to meet India’s evolving industrial needs. This localisation strategy is also driven by geopolitical and trade factors. With rising tariffs and China-related supply chain shifts, there’s a global push to diversify manufacturing bases. India is no longer just a local market for Grundfos, it’s emerging as a global production hub. “Manufacturing for India is a given. Without that, we wouldn’t be competitive,” Rajaram admitted and continued, “but we’re looking beyond. If we identify a few products with global appeal and scale them here with the right quality, India can become a volume hub not just for itself, but for the world.” Currently, only China operates at such a global scale for engineered pump products. But India is fast catching up. “Our vision is clear: India must evolve from being just a market for India to a market for the world. That’s the narrative we’re building within the global organisation. India as a pillar of the global value chain,” he emphasised.
ELEVATING INDIA TO A GLOBAL PRIORITY
Grundfos Group has launched its Ignite’27 strategy (2025–2027) to re inforce its position as a global leader in intelligent water and climate solutions. As part of this vision, India has been designated a global priority market which is a significant milestone for the company. “It’s wonderful to share that India is now a global priority for Grundfos,” Rajaram said. The industry division is taking the lead, and Grundfos expects other divisions to follow. India’s importance stems from its exceptional growth potential. While the global pump industry expects average annual growth of 6 – 7 per cent, Grundfos anticipates 10 – 15 per cent growth in India, driven primarily by a strong replacement market. There are many more factors contributing to this momentum. India’s manufacturing sector is expanding rapidly, supported by a growing population and accelerating urbanisation. At the same time, the government’s investments in industrial and commercial infrastructure aligns directly with Grundfos’s core business areas. These developments extend naturally into residential infrastructure and public water treatment, further underscoring India’s strategic role in the Ignite’27 roadmap.
CUE120: A MADE-IN-INDIA MILESTONE
To support this, Grundfos is investing in India. One initiative is the establishment of an energy optimisation team that already supports global operations. Further integration efforts are in motion, including contributions to future product development. A key milestone is the launch of the CUE120 drive, the first product developed under the Ignite’27 strategy specifically for the Indian market. Developed based on local insights, the product reflects Grundfos’s legacy of delivering system-level solutions rather than standalone pumps. It supports cooling, water treatment and machining operations, where variable-speed pumps deliver significant energy savings. Developed collaboratively across teams, the CUE120 has already seen strong market reception. Expor from India has begun. Grundfos India has also begun its export journey, by shipping select components from India. What began as a pilot initiative 18 months ago has now gathered momentum, marking a new phase in India’s manufacturing story. Looking ahead, India is also being positioned as a product development centre for similar markets in southeast Asia and Africa regions where Indian-engineered solutions resonate more deeply. Conversations with the global team are well underway, with implementation expected soon. And what about the next leap, from Rs 1000 crore to Rs 2000 crore? “If I had to take a conservative view, I’d say five years,” said Rajaram. “But truth fully, I believe we’ll get there sooner. The wind is at our back, and the foundations are stronger than ever.”