Pump is general machinery that converts mechanical energy of prime mover to fluid energy. Global market demand for general pumps include industrial pump, residence pump, hydraulic pressure pump is over USD 60 billion; If divided according to range of services, water pump is the largest category. There are about 10,000 manufacturers in pump industry in the world, after many years of competition and elimination, its market concentration has already reached the high level, the total sales amount of the top 10 is over USD 20 billion. There are more than 2,000 pump manufacturers in China, can produce totally more than 400 series and over 5,000 types. Most of types can be designed and produced in China. Sine 1980s Chinese enterprises successively introduced over 100 series and over 2,000 types, via production mode that joint venture and cooperation with overseas, made China’s technical level of pump for key use is approaching international standard. Main fields demand for pump in China’s market as below: Environment protection industry, water supply engineering, power station, petroleum and petrochemical industry and water conservancy construction, etc. In 2014, the market size of pump in China was about CNY 214.1 billion, with CAGR about 13.31% from 2010 to2014. It is estimated that of which the market size of industrial pump account for about 60%. Chinese economy maintains rapid growth after China joined WTO. Meanwhile, due to industrialization development and consumption upgrade, the total industrial output value increased rapidly while China surpassed the U.S.A. to be the top manufacturer in 2011. Chinese government sets the target growth rate of GDP at 7% in 2015. The annual growth rate of Chinese economy is expected to remain around 7% in the next few years. Continuous development of Chinese economy promotes the development of various industries and brings development opportunities to the construction machinery industry. In recent years, the investment in fixed assets maintains the growth rate above 20% while local infrastructure construction significantly promotes the social economic growth. As urbanization process accelerates in China, the investment in fixed assets in China will keep increasing in the next 5-10 years while the investment in infrastructure construction of local governments has huge growth potentials. It is estimated that CAGR of market size of pump in China will be about 12% in 2015 to 2019. By 2019, the market size of pump in China will reach CNY 377.32 billion.
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