- The key vendors in the submersible pumps market in China 2015-2019 are Baker Hughes Inc., General Electric (GE) Co., Grundfos Group, Halliburton AS and Schlumberger Ltd.
London, 13 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the submersible pumps market in China 2015-2019. Continuous outsourcing of manufacturing activities to China is one of the key trends being witnessed in this market. More companies in the Americas and EMEA are outsourcing their production work to low-cost manufacturing companies in China, leading to increased investment in China from both domestic and international vendors, which will favor the country’s market for submersible pumps. The submersible pumps market in China 2015-2019 is estimated to grow at a CAGR of 7.24% during the forecast period of 2014-2019.
Several factors such as increased investment in water and wastewater recycling plants and revival of the construction industry in China are fueling market growth. The demand for submersible pumps in the country is also driven by deepwater exploration activities, rise in urbanization, and depleting fresh water resources.
“Many emerging trends such as miniaturization, portability, and discrete operations drive the demand for small, silent, energy-efficient, and high-performance pumps,” says Faisal Ghaus, Vice President of Technavio Research.
“These pumps are also used in applications where size, noise, and controllability are important factors. The development of micro submersible water pump technology is expected to favorably affect the submersible pumps market in China through to 2019.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
