July 20, 2007

China: Growing Fast

By 2010 purchases of centrifugal pumps in China will rise to over $5 billion, surpassing the U.S., whose purchases are projected at under $4.9 billion. These are the latest forecasts in Pumps:

The top ten purchasers in 2010 will include primarily Asian and European countries:

2010 Projected Centrifugal Pump Purchases ($ Millions)
China: 5,149
United States: 4,886
Japan: 1,595
India: 1,092
Germany: 1,085
France: 764
United Kingdom: 742
Russia: 742
Brazil: 740
Italy: 680
South Korea: 640

Municipal wastewater represents the largest application in China and in the world, driven by the migration of one billion people in Asia from the countryside to cities. The chemical industry is the second largest application in China and in the world.

Power is the third largest application. In 2007 China became the leading operator of coal-fired power plants in the world. By 2011 it is projected that China will be operating twice the coal-fired capacity of the U.S. and more than all of Europe combined.

China is developing the manufacturing capability to move beyond the standard water pumps to offer pumps for critical applications. The U.S. will remain the second largest purchaser of pumps even though there will be a slowdown in refining and oil and gas production. Coal-fired power, ethanol and other growth areas will compensate for the segments which are not growing. The outlook in Japan is looking brighter and it will remain the third largest purchaser.
Source: World Markets an online report published by the McIlvaine Co.

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