CHINA PUMP MARKET TO EXCEED $9 BILLION NEXT YEAR20th Oct 2014
China Pump Market to Exceed $9Billion (£5.5billion) Next Year
The Chinese market for pumps is growing rapidly as is the ability to supply them domestically. Industrial pump sales in China will exceed $9 billion in 2015 according to the latest forecasts in Pumps World Market published by the McIlvaine Company.
The exports exceed imports by approximately $1 billion, so total industrial pump production is over $10 billion. Higher technology pumps are produced by international joint ventures and obtained by imports. There are 20 large domestic producers accounting for sales of just under $2 billion.
Some of the joint venture international companies are exporting pumps from China. As a result, the sales by this group are several billion dollars per year.
The energy sector will contribute to much of the growth in the coming years. China has embarked on a huge coal to chemicals and fuels program. If all the planned projects were to be completed, China would be converting 10 percent of the coal produced in the world into synthetic natural gas, gasoline and chemicals. The larger plants will use more than 20,000 pumps each.
China continues to build new coal-fired power plants at the rate of 50,000 MW per year. Existing power plants are being retrofitted with NOx control. These retrofits require pumps for ammonia injection. Expenditures for flue gas desulfurization are larger than the expenditures at all the countries of Europe combined. These systems require both water and slurry pumps.
The infrastructure investment also continues at a high pace. New municipal drinking water and municipal wastewater plants are accommodating the migrants to the cities. The construction of generic pharmaceutical plants by international companies is also fueling the pump market growth. China is also a leading purchaser of equipment for semiconductor and other electronic plants.
Source (Mcllvaine Company)