The Chinese pump market is already indisputably massive. In terms of centrifugal pump unit shipments. With shipments expected to grow at a Compound Annual Growth Rate (CAGR) of 6% from 2012 until 2017, the Chinese market will reach nearly 13.5 million units sold annually by 2017.
This would increase the aforementioned shipment percentages for the world and Asia Pacifi c markets to 28% and 65%, respectively.
Still, immediate growth is not necessarily imminent. The Chinese government’s focus on financial stability rather than short-term growth could cause a delay in this expected surge.
So how can Western pump companies prepare for the trends of the future and ensure that they can maintain a competitive edge in such a complex market?
To find out download the article now.