China's Steel Output Cuts Could Intensify Coking Coal's Plunge
China's declining steel demand is sweeping through related markets, with prices of the coking coal and coke used in blast furnaces plunging to their lowest since 2016.
Steel mills are expected to curtail production this year to cope with the drop in consumption. The protracted collapse in the property sector remains the biggest drag, while exports that have helped soak up the domestic surplus are likely to recede in the face of mounting trade barriers.
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- Yahoo
Asia-Pacific Industrial Pumps Market Review 2020-2024, Analysis of 2025, and Forecasts to 2030
The market is set for growth driven by rapid industrialization, infrastructure expansion, and increased capital investment in sectors like water management and oil & gas. Opportunities include adopting smart technologies and replacing outdated systems, especially in China, India, and Southeast Asia. Asia-Pacific Industrial Pumps Market Dublin, May 30, 2025 (GLOBE NEWSWIRE) -- The "Asia-Pacific Industrial Pumps Market by Country, Competition, Forecast & Opportunities, 2020-2030F" has been added to offering. The Asia-Pacific Industrial Pumps Market was valued at USD 21.68 Billion in 2024 and is projected to reach USD 32.21 Billion by 2030, rising at a CAGR of 6.66%. This growth is largely driven by accelerated industrialization, expanding infrastructure, and increased capital investments across key sectors such as water and wastewater management, oil and gas, chemical processing, power generation, and manufacturing. Countries like China, India, Japan, and several Southeast Asian nations are at the forefront of this growth due to government initiatives supporting urban development, industrial growth, and enhanced water infrastructure. Industrial pumps are indispensable in enabling fluid movement across industrial processes, and their adoption is rising with the need for efficiency and automation. The market is seeing increasing integration of smart technologies, including IoT-enabled pumps and variable frequency drives (VFDs), which support real-time diagnostics, remote control, and energy-efficient operations. This trend, alongside the replacement of aging infrastructure with modern, high-performance equipment, is expected to fuel the continued expansion of the market across the region. Key Market Drivers: Rapid Industrialization Across Emerging Economies Industrial expansion in the Asia-Pacific region is accelerating, especially in countries such as China, India, Vietnam, and Indonesia, driven by favorable policy support and large-scale infrastructure and manufacturing investments. Local and national government initiatives are encouraging the setup of processing plants, factories, and assembly units to boost regional manufacturing output. China's industrial hubs in Guangdong and Jiangsu and India's growth corridors in Maharashtra and Tamil Nadu are witnessing strong investment inflows, increasing the requirement for robust fluid handling systems. As a result, demand for centrifugal, diaphragm, and reciprocating pumps has intensified. The growing footprint of sectors like electronics, textiles, and food processing is further supporting this demand, as these industries require pumps with specialized features such as chemical resistance, flow precision, and high-pressure performance. Key Market Challenges: High Operational and Maintenance Costs Despite their importance, industrial pumps are associated with high total ownership costs. In industries such as mining, power, and petrochemicals, pump systems often operate under extreme conditions, resulting in substantial energy consumption and frequent maintenance needs. While the initial cost of acquisition is moderate, the cumulative cost of repairs, downtime, spare parts, and electricity makes these systems expensive to operate over time. In Asia-Pacific, small and medium enterprises (SMEs) frequently lack the budget for proactive maintenance and struggle to afford energy-efficient upgrades. This not only compromises pump performance but also results in higher energy use and reduced equipment longevity. In less developed markets, limited access to skilled technicians and genuine spare parts further complicates maintenance, often leading to extended downtimes and operational inefficiencies. Key Market Trends: Growth in Infrastructure Development and Urbanization Infrastructure development across Asia-Pacific is a key factor driving demand for industrial pumps. Countries including India, China, Vietnam, Indonesia, and the Philippines are undertaking large-scale projects in urban development, smart cities, sanitation, and utilities infrastructure. According to the Asian Development Bank, the region requires annual infrastructure investments of USD 1.7 trillion through 2030 to support economic growth. These projects require reliable pumping systems for applications such as sewage treatment, clean water supply, and HVAC. For example, India's "Jal Jeevan Mission" has significantly increased demand for industrial-grade pumps, while Southeast Asia's flood control and irrigation modernization initiatives are also propelling market growth. The surge in both public and private sector infrastructure investments is expected to ensure continued demand for centrifugal, submersible, and rotary pumps. Key Players Profiled in this Asia-Pacific Industrial Pumps Market Report: Grundfos Holding A/S Ingersoll-Rand Flowserve Corporation Sulzer Ltd. ITT, INC. Schlumberger Limited EBARA International Corporation The Weir Group PLC Report Scope In this report, the Asia-Pacific Industrial Pumps Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below: Asia-Pacific Industrial Pumps Market, by Type: Centrifugal Pumps Reciprocating Pumps Rotary Pumps Others Asia-Pacific Industrial Pumps Market, by Application: Water & Waste Water Power Generation Oil & Gas Chemicals & Petrochemicals Mining Others Asia-Pacific Industrial Pumps Market, by Country: China Japan India South Korea Australia Singapore Thailand Malaysia Key Attributes Report Attribute Details No. of Pages 120 Forecast Period 2024-2030 Estimated Market Value (USD) in 2024 $21.68 Billion Forecasted Market Value (USD) by 2030 $32.21 Billion Compound Annual Growth Rate 6.6% Regions Covered Asia-Pacific For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Asia-Pacific Industrial Pumps Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
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India's Economy Expands Faster-Than-Expected 7.4% Last Quarter
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