The development prospects of two-end support pumps are generally optimistic, mainly driven by the growth of market demand and technological progress.
Market demand growth
The global market scale continues to expand: In recent years, the global water pump market has continued to grow, reaching US$62.9 billion in 2023, and continued to grow at a compound annual growth rate of 5.29%. It is expected that by 2025, the global water pump market will further increase.
China's market share is significant: As the world's largest water pump production base, China occupies about 50% of the market share. In 2022, the market size of China's water pump industry was about 210 billion yuan, and it is expected to reach about 500 billion yuan by 2025.
Wide application areas: Two-end support pumps are widely used in agricultural irrigation, urban water supply, industrial circulation and other fields, and the growth of demand in these fields has driven the expansion of the market. Especially in agricultural irrigation and urban water supply, with the acceleration of effective irrigation area and urbanization, market demand continues to increase.
Technological progress and policy support
Development of high-efficiency energy-saving technology: Under the policy background of "carbon peak" and "carbon neutrality", the research and development and promotion and application of high-efficiency energy-saving water pumps are highly valued. This not only meets the needs of energy conservation and environmental protection, but also enhances the market competitiveness of products.
Policy support: National policies promote the replacement of traditional cast iron pumps with stainless steel pumps, and the recovery of the manufacturing industry PMI are beneficial to the growth of domestic demand in the water pump market. In addition, the country's investment in major water conservancy infrastructure has further promoted the development of the water pump market.