China’s Cryogenic Equipment Market Growing on LNG Investment, State-owned Proportion Customer Base Increases
A healthy growth rate of 10% in China’s market for cryogenic equipment was enjoyed in 2010. China has been investing heavily in LNG and foreign suppliers enjoy a good reputation for product quality. However, with the increase of public LNG projects, future opportunities may require deeper ties with powerful state-owned buyers.
Beijing, China, January 12, 2011 --(PR.com)-- GCiS China Strategic Research has published a study of the China market for cryogenic equipment, which sees widespread application in the liquefied natural gas (LNG) industry. Covering cryogenic pumps, valves, tanks and vaporizers, this study provides an in-depth look at the trends, participants and forecasts for the industry from 2010 to 2015.
The study finds healthy growth of 10% in the market and diverse applications such as petrochemical, chemicals, metallurgy, electronics, power and shipbuilding. Currently the focus of supplier development is on LNG applications. China has been investing heavily in LNG terminals, with plans to open several in Eastern and Southern locations.
Customers typically recognize that there is a clear difference in quality between the average product of foreign and domestic firms, with the former being of considerably higher quality and price. However, most of the key buyers in this market are large State owned Companies involved in the energy sector such as Sinopec, CNOOC and CNPC. Their purchase of target products is mostly determined by government directive, which may favor domestic solutions.
In order to take full advantage of opportunities in the cryogenic equipment market, foreign suppliers may have to deepen their ties to local and state-owned industry partners. Intellectual property control may prove a key challenge for suppliers of high performance products such as cryogenic pumps.
###
About the GCIS China Cryogenic Equipment Study
This GCiS market study draws on a three month, in-depth primary survey of over 90 of the market’s supply side, channel players and end-users. It is essential reading for any professional needing accurate and detailed strategic information on this market. Major areas covered include: market size and shares, five-year projections, market structure, pricing trends, distribution, consumption, an assessment of key suppliers and more.
About GCiS China Strategic Research
GCiS (www.GCiS.com.cn) is a China-based market research and advisory firm focused on business to business markets. Since 1997, GCiS has been working with leading multinationals such as Siemens and GE in sectors ranging from technology to industrial markets, medical, chemicals, resources, and a few others.
The study finds healthy growth of 10% in the market and diverse applications such as petrochemical, chemicals, metallurgy, electronics, power and shipbuilding. Currently the focus of supplier development is on LNG applications. China has been investing heavily in LNG terminals, with plans to open several in Eastern and Southern locations.
Customers typically recognize that there is a clear difference in quality between the average product of foreign and domestic firms, with the former being of considerably higher quality and price. However, most of the key buyers in this market are large State owned Companies involved in the energy sector such as Sinopec, CNOOC and CNPC. Their purchase of target products is mostly determined by government directive, which may favor domestic solutions.
In order to take full advantage of opportunities in the cryogenic equipment market, foreign suppliers may have to deepen their ties to local and state-owned industry partners. Intellectual property control may prove a key challenge for suppliers of high performance products such as cryogenic pumps.
###
About the GCIS China Cryogenic Equipment Study
This GCiS market study draws on a three month, in-depth primary survey of over 90 of the market’s supply side, channel players and end-users. It is essential reading for any professional needing accurate and detailed strategic information on this market. Major areas covered include: market size and shares, five-year projections, market structure, pricing trends, distribution, consumption, an assessment of key suppliers and more.
About GCiS China Strategic Research
GCiS (www.GCiS.com.cn) is a China-based market research and advisory firm focused on business to business markets. Since 1997, GCiS has been working with leading multinationals such as Siemens and GE in sectors ranging from technology to industrial markets, medical, chemicals, resources, and a few others.
Contact
GCiS China Strategic Research
Edward Barlow
+86 (0) 10 59789950
www.gcis.com.cn
Edward Barlow
+86 (0) 10 59789950
www.gcis.com.cn
Contact
Categories