China Water Pumps Market Set To Cross 85 Billion Yuan ($14 Billion) by 2018
Water pumps market is expected to grow on the back of rising industrialization, increasing government initiatives and agriculture sector developments in the country
Water pumps are an integral part of any manufacturing facility and China is dominating the world in terms of total industrial output. As a result the water pumps market in China has been reporting fastest growth in comparison to other developed or emerging markets. The country is becoming drier every year as the water table is falling sharply. It has been observed that the fresh water resources declined by 13% in China during 2000-09. The declining ground water level and rising water demand is boosting the market of water pumps in China. The majority of demand for water pumps in China is contributed by industrial sector.
According to the recently published TechSci Research report “China Water Pumps Market Forecast and Opportunities, 2018”, the water pumps market revenues of China is anticipated to grow by three folds, increasing from about USD 5.2 Billion revenues in 2012. The market is expected to grow on the back of rising industrialization, increasing government initiatives and agriculture sector developments in the country.
The report reveals that water distribution in China is highly fragmented as the southern region of China receives about 80% rainfall and snowmelt, while northern and western regions receives only 20%. Thus, consequently contributing towards the demand for water pumps due to low rainfall in the regions. However, China is also focusing towards redesigning of its water distribution network and establishing new power plants, aiming to double its installed power generation capacity. The water pumps find significant application in water and power sectors, and government’s plan to invest over Trillions of dollars by 2030 in new power plants will bolster the demand for water pumps in the forecasted period.
In addition, the Chinese government plans to provide subsidised loans to agro-equipment manufacturers, as a result, prices of water pumps is anticipated to be influenced in China.
“Constantly rising demand and usage of water in heavy industries, such as power generation, mining and chemical will force industry operators to shift towards waste water recycling and hence to recycle millions of gallons of water. It is evident that high water consuming sectors would require high efficiency water pumps. In order to meet the customers’ requirement, industry players are needed to introduce newer products that can work efficiently with waste water and handle high pressure,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“China Water Pumps Market Forecast and Opportunities, 2018” has evaluated the future growth potential of China’s water pumps market and provides statistics and information on market structure, industry behaviour and trends. The report includes pump market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities available in water pumps market of China.