2013-01-04 19:19:46 -
Chinese engine market dominated by Changfa, Shanghai Diesel and Weichai Power
The Chinese engine market has been forecast to increase at a compound annual growth rate (CAGR) of 11.34% through to 2015, driven by the increasing demand from machinery manufacturing industries and the development of low-energy-consuming engines.However, the increasing price of raw materials could pose a challenge to the growth of this market.In recent years, China´s high economic growth has driven strong demand for the machinery manufacturing industries. The rapid development of a large number of downstream industries, including engineering machinery, farming machinery and traffic engineering, contributed to the development of the engine manufacturing industry in China.The Chinese engine market is witnessing severe competition between domestic vendors and international vendors. The competition among vendors has a huge impact on the price
of internal combustion engines.Several domestic vendors are adopting a low pricing strategy in order to compete with the international vendors that offer technologically advanced engines. Several small and medium-sized enterprises (SMEs) have started adopting engines manufactured by the Chinese vendors because of their low price.Key companies currently dominating the Chinese engine market include, Changfa Group, Shanghai Diesel Engine Co. Ltd. and Weichai Power Co. Ltd.For more information on the Chinese engine market, see the latest research: Chinese Engine MarketFollow us on Twitter @CandMResearch
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