The device used in transforming fluid energy my mechanical action is called a pump. The demand for global general pump is exceeding USD 60 billion yearly which include industrial pumps, residential pumps and hydraulic pumps. Water pumps are the largest category in terms of range of services.
According to the market research report “Research Report on Industrial Pump Industry in China, 2017-2021“, South East Asia and south Asia are the regions where the demand of industrial pumps are continuously increasing on a faster pace with the growth of emerging economies according to CRI. There is a large proportion of demand in the global market especially in the European, US and China countries. The demand for pumps keeps increasing as economy rises in developed countries as well. The demand for US and European countries will decline and in other countries will rise because of change in the global industrial development pattern.
There were numerous manufacturers by the end of May 2017 over 2000 in China. The manufacturers of the pump in China can produce 5000 kinds and 450 series of pumps. In 2016, more than 100 million of pump is produced in terms of volume. There are many small sized pump manufacturers in China pump industry, which uses backward equipment’s and techniques, which concludes in a poor quality output. China pump industry is at a low level in technological content internationally and there are still high-end products, which still depend on the imports until now.
Industrial pump is important corollary equipment in manufacturing industry of equipment because it has various benefits. It has encouraging and supporting policies of the Chinese government, which aim to promote equipment-manufacturing industry, according to CRI. Enactment of several documents in order to facilitate the manufacturing industry was drafted by the Chinese government, which includes the implementation on planning rules of adjustment and revitalization of equipment manufacturing industry. Also it is estimated that in future years the action plan of energy saving, emission reduction, upgrading and retrofitting of coal-fired power plants, Made in China 2025 will be fulfilled, which offers policy support for the development of pump industry.
In last year, there is rise in the costs, which includes labor & land, and a slight increase in price of energy and the price of export products rose accordingly. However, there is still an advantage of price for pumps manufacturer in China’s compared with those in developed countries. The prospect of pump industry will be better with the strengthening of research and development. There is improvement of production techniques; there is growth of product technological content and in quality as well. There is rise in the demand for industrial pumps in local market as there is up gradation in China’s manufacturing industry. Electric power, water, environment protection is also developing in the industry. Until 2021, the industrial pump industry in China will observe a growth.
Key Topics Covered in the Report:
China Industrial Pump Industry Market Research Report
China Industrial Pump Industry Market Size
China Industrial Pump Industry
China Industrial Pump Industry Trade Market
China Industrial Pump Industry Production Output
China Industrial Pump Industry Import Volume
China Industrial Pump Industry Export Volume
China Industrial Pump Industry Market Future Outlook
China Industrial Pump Industry Market competition
China Industrial Pump Industry Retail Market
China Industrial Pump Industry Market Growth Rate
China agriculture equipment industry
For further details of the report visit:
Ankur Gupta, Head Marketing & Communications