In 2023, the import of pumps for dispensing fuel or lubricants to China stood at approximately 2.92 thousand units. Forecast data for the period from 2024 to 2028 indicates a declining trend, with values decreasing from 2.76 thousand in 2024 to 2.18 thousand by 2028.
Notably, the year-on-year decrease is around 5.43% between 2024 and 2025, progressively leading to a reduction of about 4.84% by 2028. The Compound Annual Growth Rate (CAGR) over this period is negative, reflecting a continuing downtrend of approximately -5.66% per annum over five years.
Future trends to watch for include:
- Technological advancements impacting demand for traditional pump systems.
- Shifts in China's energy strategy towards renewable energy sources, potentially reducing reliance on fossil fuels.
- Global economic factors influencing China's import capabilities and infrastructure investment plans.
