In 2015, affected by the sluggish market demand of the main application industries - chemical industry, oil and gas, petrochemical industry, the scale of China's flow instrument market showed negative growth for the first time in five years. From the perspective of product segmentation, the market size of flow meter product segmentation fell across the board, especially the mass flowmeter market, which shrank the most.
The application of flow meters in the chemical industry covers all fields from raw materials, auxiliary materials, intermediates, finished products to utilities. Affected by overcapacity, environmental pressure and other factors, fixed asset investment in the chemical industry dropped significantly in 2015, with the growth rate falling 5.5 percentage points compared with 2014. In terms of the fine molecule industry, the oil price is still low, and the coal chemical projects are basically stagnant; The pressure of basic chemical industry is increasing, and the industry restructuring of pesticide, fertilizer, even medicine and other industries is flourishing, and the industry growth momentum is insufficient. Affected by this, the application scale of flow meters in the chemical industry shrank year on year.
Data source: sorting by gongkong
In 2015, the investment in fixed assets of China's oil and gas exploration industry was 342.5 billion yuan, down 14.9% year on year, and the growth rate dropped by more than 20 percentage points. Affected by the depressed economic situation and oil price fluctuations, China's oil and gas exploration industry fell into a downturn in 2015.
Data source: sorting by gongkong
In 2015, the fixed asset investment in the petrochemical industry declined by 21.6% year on year, the first decline in the past five years. The growth rate fell by more than 30 percentage points. The added value of the petrochemical industry increased by 4.8% year on year, and the growth rate fell by 4.7 percentage points year on year. At the same time, affected by the low price of crude oil and the reform and adjustment within the system, the new construction and reconstruction projects experienced a precipitous decline, and the corresponding market demand for flow meters declined significantly year on year.
Data source: sorting by gongkong
In the short term, the process of industrial restructuring, elimination of backward production capacity, energy conservation and environmental protection will continue, and the demand for flow meters will be difficult to recover quickly. Gongkong expects that in 2016, the scale of China's flow meter market will continue to shrink, but in the long run, with the gradual introduction of the "13th Five Year Plan", projects in the chemical, oil and gas, municipal and other industries will usher in a new round of investment, construction, upgrading and transformation, which will inevitably lead to a steady increase in demand for flow meters, Gongkong predicts that the market size of flow meters in China will grow slightly in the next 3-5 years.
(The article is the original work of Industrial Control Network. If it is reproduced, the source should be noted, otherwise the law must be investigated...)
Li Zhimei, market analyst of Industrial Control Network
