Market Research Reports - Ken Research China Industrial Pump Industry Market Growth Rate

Magnification of Industrial Pump Industry in China: Ken Research
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.