China's Pumps and Liquid Elevators Market to Reach 1.4B Units by 2035 with +2.1% CAGR - News and Statistics - IndexBox

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IndexBox has just published a new report: China - Pumps For Liquids And Liquid Elevators - Market Analysis, Forecast, Size, Trends and Insights.

The article highlights the anticipated rise in demand for pumps for liquids and liquid elevators in China, with a forecasted CAGR of +2.1% in market volume and +3.6% in market value from 2024 to 2035. By the end of 2035, the market volume is projected to reach 1.4B units and the market value is expected to amount to $27B in nominal prices.

Driven by increasing demand for pumps for liquids and liquid elevators in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market volume to 1.4B units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.6% for the period from 2024 to 2035, which is projected to bring the market value to $27B (in nominal wholesale prices) by the end of 2035.

Pump for liquid consumption in China expanded slightly to 1.1B units in 2024, increasing by 4.9% compared with 2023 figures. Over the period under review, consumption continues to indicate a moderate increase. Pump for liquid consumption peaked at 2.1B units in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

The value of the pump for liquid market in China dropped remarkably to $18.3B in 2024, declining by -19.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a relatively flat trend pattern. Pump for liquid consumption peaked at $46.1B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

In 2024, the amount of pumps for liquids and liquid elevators produced in China skyrocketed to 6.3B units, picking up by 146% against the previous year's figure. Over the period under review, production saw buoyant growth. As a result, production reached the peak volume and is likely to continue growth in the immediate term.

In value terms, pump for liquid production expanded to $52.5B in 2024 estimated in export price. In general, production posted resilient growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 39% against the previous year. Pump for liquid production peaked at $54.5B in 2022; however, from 2023 to 2024, production failed to regain momentum.

In 2024, purchases abroad of pumps for liquids and liquid elevators decreased by -7.2% to 92M units, falling for the third consecutive year after five years of growth. In general, imports saw a slight downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 39%. Over the period under review, imports attained the maximum at 130M units in 2021; however, from 2022 to 2024, imports remained at a lower figure.

In value terms, pump for liquid imports fell to $3.5B in 2024. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 19%. As a result, imports attained the peak of $4.7B. From 2022 to 2024, the growth of imports remained at a somewhat lower figure.

Germany (20M units), Italy (15M units) and Taiwan (Chinese) (9.6M units) were the main suppliers of pump for liquid imports to China, together comprising 45% of total imports.

From 2013 to 2023, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +13.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($1B), Japan ($623M) and the United States ($450M) constituted the largest pump for liquid suppliers to China, together comprising 56% of total imports. Italy, South Korea, France and Taiwan (Chinese) lagged somewhat behind, together comprising a further 15%.

Italy, with a CAGR of +3.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

In 2024, positive displacement pumps and hand pumps (57M units) constituted the largest type of pumps for liquids and liquid elevators supplied to China, accounting for a 62% share of total imports. Moreover, positive displacement pumps and hand pumps exceeded the figures recorded for the second-largest type, fuel, lubricating or cooling-medium pumps for internal combustion engines (13M units), fourfold. The third position in this ranking was held by hydraulic pumps (gear or vane) and other rotary positive displacement pumps (8.1M units), with an 8.8% share.

From 2013 to 2024, the average annual growth rate of the volume of positive displacement pumps and hand pumps imports was relatively modest. With regard to the other supplied products, the following average annual rates of growth were recorded: fuel, lubricating or cooling-medium pumps for internal combustion engines (+1.6% per year) and hydraulic pumps (gear or vane) and other rotary positive displacement pumps (+2.1% per year).

In value terms, pumps for liquids and liquid elevators with the largest imports in China were pumps for liquids ($994M), hydraulic pumps (gear or vane) and other rotary positive displacement pumps ($890M) and hydraulic pumps (axial and radial piston) and other reciprocating positive displacement pumps ($697M), together accounting for 74% of total imports.

Among the main product categories, hydraulic pumps (gear or vane) and other rotary positive displacement pumps , with a CAGR of +0.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced mixed trend patterns.

In 2024, the average pump for liquid import price amounted to $38 per unit, flattening at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 69%. Over the period under review, average import prices attained the peak figure at $54 per unit in 2016; however, from 2017 to 2024, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplied products. In 2024, the product with the highest price was concrete pumps ($45 thousand per unit), while the price for positive displacement pumps and hand pumps ($355 per thousand units) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by pumps and liquid elevators; n.e.s. in heading no. 8413 (+10.9%), while the prices for the other products experienced more modest paces of growth.

In 2023, the average pump for liquid import price amounted to $38 per unit, reducing by -3.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 69% against the previous year. The import price peaked at $54 per unit in 2016; however, from 2017 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($115 per unit), while the price for Taiwan (Chinese) ($6.1 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the United States (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, overseas shipments of pumps for liquids and liquid elevators increased by 228% to 5.3B units, rising for the eighth year in a row after two years of decline. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 282% against the previous year. Over the period under review, the exports reached the peak figure in 2024 and are likely to see gradual growth in the immediate term.

In value terms, pump for liquid exports rose significantly to $10.7B in 2024. In general, exports showed a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by 21%. Over the period under review, the exports attained the peak figure in 2024 and are expected to retain growth in the immediate term.

The United States (41M units), Russia (29M units) and Mexico (22M units) were the main destinations of pump for liquid exports from China, with a combined 5.7% share of total exports.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +13.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($1.2B), Russia ($761M) and Indonesia ($397M) appeared to be the largest markets for pump for liquid exported from China worldwide, with a combined 25% share of total exports. Mexico, Brazil, Germany, Vietnam, South Korea, Thailand, Turkey, India, Poland and Hong Kong SAR lagged somewhat behind, together accounting for a further 25%.

Among the main countries of destination, Mexico, with a CAGR of +14.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Positive displacement pumps and hand pumps (4.8B units) was the largest type of pumps for liquids and liquid elevators exported from China, with a 91% share of total exports. Moreover, positive displacement pumps and hand pumps exceeded the volume of the second product type, pumps for liquids (197M units), more than tenfold. Fuel, lubricating or cooling-medium pumps for internal combustion engines (122M units) ranked third in terms of total exports with a 2.3% share.

From 2013 to 2024, the average annual growth rate of the volume of positive displacement pumps and hand pumps exports amounted to +91.8%. With regard to the other exported products, the following average annual rates of growth were recorded: pumps for liquids (+9.8% per year) and fuel, lubricating or cooling-medium pumps for internal combustion engines (+5.0% per year).

In value terms, pumps for liquids ($5.3B) remains the largest type of pumps for liquids and liquid elevators exported from China, comprising 49% of total exports. The second position in the ranking was held by hydraulic pumps (gear or vane) and other rotary positive displacement pumps ($1.6B), with a 15% share of total exports. It was followed by fuel, lubricating or cooling-medium pumps for internal combustion engines, with a 14% share.

From 2013 to 2024, the average annual rate of growth in terms of the value of pumps for liquids exports amounted to +9.7%. With regard to the other exported products, the following average annual rates of growth were recorded: hydraulic pumps (gear or vane) and other rotary positive displacement pumps (+5.7% per year) and fuel, lubricating or cooling-medium pumps for internal combustion engines (+4.9% per year).

The average pump for liquid export price stood at $2 per unit in 2024, shrinking by -65.3% against the previous year. In general, the export price saw a abrupt decline. The pace of growth appeared the most rapid in 2015 an increase of 218% against the previous year. As a result, the export price attained the peak level of $72 per unit. From 2016 to 2024, the average export prices remained at a lower figure.

Prices varied noticeably by the product type; the product with the highest price was concrete pumps ($10 thousand per unit), while the average price for exports of positive displacement pumps and hand pumps ($128 per thousand units) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: hydraulic pump (gear or vane) and other rotary positive displacement pump (+5.8%), while the prices for the other products experienced mixed trend patterns.

The average pump for liquid export price stood at $5.8 per unit in 2023, reducing by -47.8% against the previous year. Over the period under review, the export price showed a abrupt descent. The pace of growth was the most pronounced in 2015 an increase of 218% against the previous year. As a result, the export price reached the peak level of $72 per unit. From 2016 to 2023, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($29 per unit), while the average price for exports to Turkey ($12 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the pump for liquid market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles