International Pump Industry Sales Ranking 2023

Issued date: 2024/04/06

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In 2023, in the face of geopolitical risks continue to ferment, high energy and raw material prices and interest rates gradually low and other complex external environment of the superimposed role of the developed economies further slowdown in economic growth; in contrast, the emerging markets and developing economies are showing a relatively solid economic situation, the pump industry in this context also shows a strong resistance to pressure and flexibility to adapt to the advantages.

According to statistics, the 15 internationally renowned pump companies included in the annual summary saw their total annual sales reach approximately RMB 262.5 billion, compared to RMB 231.5 billion in 2022, realizing a year-on-year growth of 13.4%. Of these 15 companies, it is particularly noteworthy that nine of them achieved strong double-digit growth.

A closer look at the annual report of each enterprise, the driving force behind the growth of its performance mainly comes from the following aspects: First, the stock market equipment renewal and iteration of service demand; Second, the infrastructure construction and renovation of the field of active; Third, the expansion of water treatment and municipal engineering market; Fourth, the depth of each enterprise in the various segments of the excavation and cultivation of fine-tuning.

According to the World Bank's latest forecast of global economic trends, global economic growth is expected to decline to 2.4 per cent in 2024, marking the third consecutive year of deceleration in global economic growth. Tighter monetary policy and a tighter credit environment, together with weak global trade and investment activity, are seen as key factors contributing to sluggish growth. Growth expectations of emerging market economies and developing economies diverged significantly in the face of multiple and complex domestic and external developments.

The East Asia and Pacific region (which includes China), Central Asia in Europe and South Asia are all expected to experience some deceleration in economic growth in 2024. The rest of the world, on the other hand, is expected to show varying degrees of rebound. Specifically, the World Bank expects economic growth in East Asia and the Pacific to slip to 4.5% in 2024, and growth in Europe and Central Asia to slow to 2.4%; economic growth in Latin America and the Caribbean is expected to rise slightly to 2.3%.

In summary, the pump industry in the face of the challenges of the global economic slowdown in general, but also the existence of the opportunities brought about by the growth of economic restructuring and regional differentiation.

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