1. centrifugal pump industry overview

Centrifugal pump is a kind of mechanical equipment that uses centrifugal force to transport liquid. Its working principle is to transfer the mechanical energy of the prime mover or other external energy to the liquid, so as to increase the energy of the liquid, thereby realizing the transportation or pressurization of the liquid. Centrifugal pumps can be divided into single-stage pumps and multi-stage pumps in accordance with the structure; in accordance with the impeller inlet mode can be divided into single suction pump and double suction pump; in accordance with the impeller outflow mode can be divided into radial flow pump, mixed flow pump and axial flow pump.

Centrifugal pumps have the advantages of simple structure, stable operation, convenient maintenance, high efficiency, and long life. They are widely used in petroleum, chemical, metallurgy, electric power, water conservancy, municipal, environmental protection and other fields. According to data from the Champ Consulting Group,China's pump product output in 2019 was1.23Billion units, year-on-year growth4.1%；2020years ago11The monthly production is1.13Billion units, year-on-year growth2.8%. Among them, centrifugal pumps occupy the dominant position of pump products, and the output accounts for about the total output.80%Above.2022In 2010, the output of China's pump products maintained a steady growth trend, reaching1.28100 million units, an increase over the previous year5%；2023Throughout the year, due to the impact of the economic environment at home and abroad, the output of China's pump products has slowed down and is expected to be 1.32billion units, up 3.1 percent year-on-year。

2. centrifugal pump industry market size

According to data from the Champ Consulting GroupDisplay,2019The market size of China's centrifugal pump industry in980Billion yuan, year-on-year growth5.6%；2020Affected by the new coronary pneumonia epidemic in 2012, demand in the downstream industry decreased and the market size fell940Billions of yuan, down year-on-year4.1%。2021With the effects of epidemic prevention and control and the economy returning to growth, the market size rebounded980Billion yuan, year-on-year growth4.3%；2022Year reached1020Billion yuan, year-on-year growth4.1%; expected2023Year-round will reach1060Billion yuan, year-on-year growth3.9%。

3. centrifugal pump industry demand structure

The demand of the centrifugal pump industry mainly comes from the downstream industry's pump demand, which is dominated by petroleum, chemical, metallurgy, electric power, water conservancy and other industries. According to data from the Champ Consulting Group,2022The demand structure of China's centrifugal pump industry is as follows:

Oil and Gas Industry: Percentages of Approximately23%It is mainly used in crude oil extraction, transportation, processing and refining, involving oilfield injection pumps, pipeline pumps, refinery pumps, etc. The demand for centrifugal pumps in this industry is greatly affected by domestic and foreign crude oil prices and production. In recent years, due to the recovery of international crude oil prices and the transformation of domestic oil fields, the growth rate of demand has rebounded.。

Chemical and petrochemical industry: accounting for approximately19%It is mainly used in the transportation, reaction, separation and purification of various chemical raw materials and products, involving corrosion resistant pumps, high temperature resistant pumps, high pressure resistant pumps, etc. The demand for centrifugal pumps in this industry is greatly influenced by domestic and foreign chemical market demand and production capacity. In recent years, due to the adjustment of domestic chemical production capacity and environmental protection upgrades, the demand growth rate has increased.。

Metallurgical industry: accounting for approximately14%It is mainly used for the transportation of cooling water, acid and alkali liquid, slurry and other media in the smelting process of steel and non-ferrous metals, involving wear-resistant pumps, corrosion-resistant pumps, high-pressure pumps, etc. The demand for centrifugal pumps in this industry is greatly influenced by the market demand and production capacity of steel and non-ferrous metals, and the growth rate of demand has been stable in recent years due to the completion of domestic steel production capacity and the growth of demand for non-ferrous metals.。

Power industry: accounting for approximately14%, Mainly used for the transportation of circulating water, water supply, boiler water and other media in thermal power generation, hydropower, nuclear power and other power generation methods, involving circulating water pumps, feed water pumps, condensate pumps, etc. The demand for centrifugal pumps in this industry is greatly influenced by the demand and supply of domestic and foreign electricity markets, and the demand growth rate has been slow in recent years due to the balance of domestic electricity supply and the development of clean energy.

Water industry: the proportion is about.12%, Mainly used in urban water supply, drainage, sewage treatment, irrigation and other fields, involving self-priming pumps, sewage pumps, submersible pumps, etc. The demand for centrifugal pumps in this industry is greatly affected by the support of national policies and the development of urban and rural construction. In recent years, due to the increase of investment in water conservancy construction and the acceleration of urbanization, the demand growth rate is relatively fast.

Other industries: accounting for approximately18%It mainly includes papermaking, food and beverage, pharmaceutical, shipbuilding and other fields, involving pulp pumps, sanitary pumps, seawater desalination pumps, etc. The demand for centrifugal pumps in this industry is greatly influenced by the demand of their respective market segments and technological progress. In recent years, due to the upgrading of domestic consumption and the development of emerging industries, the demand has grown rapidly.

4. centrifugal pump industry competition pattern

The centrifugal pump industry is a mature and highly competitive industry. At present, there are thousands of centrifugal pump manufacturers in the world, among which enterprises in developed countries such as Europe, America and Japan are the technology leaders, such as Germany's Kerber (KSB), Grundfos (Grundfos), Will (Wilo), etc., Foster Wheeler of the United States (Flowserve), Eaton (Eaton), Antec (ITT), etc., Japan's Hitachi (Hitachi), Kawasaki Heavy Industries (Kawasaki Heavy Industries), Toyo Industries (Ebara), etc. These companies have strong technical advantages and brand influence in the design, manufacturing, testing, and service of centrifugal pumps, and mainly occupy the high-end market and special purpose market.

There are a large number of centrifugal pump enterprises in China, but the scale is generally small, the technical level and product quality are uneven, mainly concentrated in the low-end market and general-purpose market. According to data from the Champ Consulting Group,2022In, China's exports of pump products were approximately50.1Billions of dollars, more2019years of growth.3.1%; imports of about27.6Billions of dollars, more2019Decreased years.2.8%. In exports, centrifugal pumps account for approximately68%In the import volume, centrifugal pumps account for about58%. This shows that China's centrifugal pump enterprises have certain competitiveness and advantages in the international market, but there are also certain gaps and deficiencies.

According to data and analysis from the Champ Consulting Group,2022The top ten companies in the market share of China's centrifugal pump industry in 2008 were: Shanghai Dongfang Pump Group Co., Ltd., Jiangsu Shagang Group Co., Ltd., Zhejiang Lida Electromechanical Co., Ltd., Guangdong Lingxiao Pump Co., Ltd., Tianjin Pump Factory Co., Ltd., Nanjing Limin Pump Co., Ltd., Hebei Huaneng Pump Co., Ltd., Shandong Fujita Machinery Co., Ltd., Beijing North Pump Co., Ltd. and Shanghai Ligao Machinery Co., Ltd. These companies have high visibility and market share in the centrifugal pump industry, and some companies have also made breakthroughs in the high-end market and special purpose market.

5. Centrifugal Pump Industry Technology Innovation

Centrifugal pump industry as a mature industry, its technological innovation is mainly reflected in the following aspects:

Product performance optimization: improve the efficiency, reliability, durability and energy saving of centrifugal pumps by improving impeller design, improving material strength, reducing noise and vibration.

Product function expansion: by adding frequency control, intelligent monitoring, remote operation and other functions, improve the adaptability, safety and convenience of centrifugal pump.

Product structure innovation: through the use of non-shaft seal structure, magnetic drive structure, oil-free lubrication structure, etc., to reduce the maintenance cost and environmental pollution of centrifugal pumps.

Product variety: through the development of centrifugal pump products to adapt to different media, different conditions, different uses, to meet the diversified needs of downstream industries.

Development Trend of 6. Centrifugal Pump Industry

According to the data and analysis of the Shangpu Consulting Group, the future development trend of the centrifugal pump industry mainly has the following aspects:

Market demand is rising steadily: With the support of national policies and the recovery of downstream industries, the centrifugal pump industry will maintain steady growth, especially in the fields of water conservancy, environmental protection, and clean energy.

Product structure optimization and upgrading: With the downstream industry's requirements for performance, quality, efficiency, and energy saving of centrifugal pumps, the centrifugal pump industry will accelerate the optimization and upgrading of product structure, and increase the proportion and market share of high-end products and special-purpose products.

Technological innovation continues to advance: With the advancement of science and technology and changes in the market, the centrifugal pump industry will continue to promote technological innovation, develop more efficient, more energy-saving, smarter, and more environmentally friendly centrifugal pump products, and improve core competitiveness.

With the intensification of market competition and the improvement of user awareness, the centrifugal pump industry will pay more and more attention to brand building, strengthen brand promotion and service, and improve brand influence and loyalty.

International cooperation continues to deepen: With the development of globalization and the advancement of the "Belt and Road" initiative, the centrifugal pump industry will continue to deepen international cooperation, expand the international market, participate in international competition, and learn from international experience.

Shangpu Consulting believes that the centrifugal pump industry is an industry with broad prospects and potential, but it also faces some challenges and risks, such as product homogeneity, improved environmental protection standards, and intensified international competition. Therefore, Shangpu Consulting recommends that centrifugal pump companies should strengthen technological innovation and brand building, improve product quality and added value, expand diversified market channels, and enhance core competitiveness.