Submersible Pumps Market in China 2015-2019
About Submersible Pumps
Submersible pumps come under centrifugal pumps, and these pumps are submerged in the fluid to be pumped. The main benefit of using these pumps is to prevent cavitation. Cavitation is a problem associated with the high elevation distance between fluid surface and pumps. Jet pumps are used to pull fluids to the surface, but submersible pumps push the fluid to the surface.
Technavio's analysts forecast the submersible pump market in China to grow at a CAGR of 7.52% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the submersible pump market in China for 2015-2019. For ascertaining the market size and vendor share, the report considers revenue generated from the sales of submersible pumps.
Technavio's report, Submersible Pump Market in China 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Submersible Pumps Market in China 2015-2019
Technavio recognizes the following companies as the key players in the Submersible Pumps Market in China: Baker Hughes, General Electric, Grundfos Group, Halliburton and Schlumberger
Other Prominent Vendors in the market are: Anhui Sanlian Pump, Ebara, Flowserve, Foshan Andritz Technologies, ITT, KSB, Robbins & Myers, Sulzer and Tianjin Rongheng Group
Commenting on the report, an analyst from Technavio’s team said: “China was one of the fastest growing economies in the world from 2000 to 2008. Since the global economic recession, the country's economy has been recovering steadily. This improving economic scenario has caused the emergence of several cost-driven manufacturing companies in the country. In addition, more companies in the Americas and EMEA are outsourcing their production work to low-cost manufacturing companies in China. Thus, there should be increased investment in China from both domestic and international vendors, which will favor the country's market for submersible pumps.”
According to the report, process industries such as chemical, mining, oil and gas, and refineries drive the submersible pumps market in China. The steady revival of the Chinese economy has led to the emergence of several process-manufacturing industries across the country. In addition, companies from the Americas and Europe are outsourcing their production work to low-cost manufacturing companies in China at an increasing rate. Several international companies are setting up plants in China to take advantage of the availability of low-cost skilled labor. Therefore, increased investment from both domestic and international vendors is expected during the forecast period. Thus, process-manufacturing industries are emerging at a rapid rate, which is expected to drive the demand for the submersible pump market in China.
Further, the report states that government regulations are making the production of pumps more expensive for vendors, impacting the growth of the market and deterring the entry of new players.
Baker Hughes, General Electric, Grundfos Group, Halliburton, Schlumberger, Anhui Sanlian Pump, Ebara, Flowserve, Foshan Andritz Technologies, ITT, KSB, Robbins & Myers, Sulzer, Tianjin Rongheng Group
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