According to the report, China revenue for Water Meter market was valued at $ 1129.2 million in 2017, and is expected to generate revenue of $ 1877.8 million by end of 2025, growing at a CAGR of 6.56 % between 2017 and 2025.
The market is not only influenced by the price, but also influenced by the product performance. The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. The Chinese market is fragmented and the competition is fierce. Many companies are fighting price wars and it is recommended to enter the market cautiously.
China Water Meter Market: Market Driver and Restraint
China is a country with a shortage of water resources. The state has attached great importance to measures such as the management of water consumption and the regulation of water price. Therefore, the government has strengthened the comprehensive utilization of water resources. The rapid development of the water supply industry will stimulate the increasing demand for water meters, which has greatly promoted the development of the water meter industry.
In recent years, with the acceleration of China's urbanization process, fixed asset investment has grown rapidly. Although the growth rate of China's real estate development investment has declined by a large rang, China's infrastructure construction and real estate demand are still huge in the future. The urbanization construction and the steady development of the real estate industry have a strong impetus to the development of the water meter industry.
China Water Meter Market: Forecast by Application
This segment includes Residential Use, Commercial/Industrial Use and Utility Use. The Residential Use segment was estimated to account for the highest volume share of 82.59 % in 2017.
China Water Meter Market: Forecast by Form
This segment includes Smart Water Meter and Mechanical Water Meter. According to study, there are two types of Water Meter, including Smart Water Meter and Mechanical Water Meter. The Mechanical Water Meter segment is projected to account for the largest volume share during the forecast period, however, with the acceleration of China's urbanization process and strengthened the comprehensive utilization of water resources by government, the smart water meter has entered a period of rapid replacement of mechanical water meters. In recent years, the production of smart water meters has been growing at a rate of around 15%, which will greatly meet market demand.
China Water Meter Market: Key Players
Ningbo Water Meter Co.,Ltd, Shanchuan Group, Donghai Group, LianLi Water Meter, SUNTRONT Technology, Shenzhen Huaxu, Hunan Changde Water Meter Manufacture Co., Ltd., Beijing Huiyi, Chongqing Smart Water Meter Group, Lianyungang Water Meter Co.,Ltd., China Minsen Metet Co., Ltd, Integrated Electronic Systems Lab Co.,Ltd., Sensus Metering, Hangzhou Jingda Electronic Co., Ltd., Itron, are the key vendors included in this report.
At present, there are as many as 600 production companies in the water meter industry in China, with low industry concentration and fierce competition. Of the major players of Water Meter, Shanchuan Group maintained its first place in the ranking in 2017. Shanchuan Group accounted for 9.36% of the China Water Meter sales volume market share in 2017. Other major China local player include Ningbo Water Meter Co.,Ltd., Donghai Group, LianLi Water Meter and SUNTRONT Technology. The international participants in the Chinese market include Sensus Metering and Itron.
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