China Becomes Largest Centrifugal Pump Purchaser
By 2010 purchases of centrifugal pumps in China will rise to over $5 billion. China will surpass the U.S. whose purchases are projected at under $4.9 billion.
The top ten purchasers in 2010 will include primarily Asian and European countries.
Municipal wastewater represents the largest application in China and in the world. The migration of one billion people in Asia from the countryside to cities is creating huge needs for municipal wastewater treatment plants.
The chemical industry is the second largest application in China and in the world. China is rapidly building its chemical industry.
Power is the third largest application. In 2007 China has become 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: The McIlvaine Company