China's instrumentation market share in foreign markets is on the rise

According to the National Development and Reform Commission, in the first five months of this year, the investment in instrumentation and Wenjian Machinery Manufacturing reached 11.6 billion yuan, an increase of 39% year-on-year. Customs data show that the first quarter of instrumentation exports was 9.441 billion US dollars, an increase of 40.2%. The amount of imports in the first quarter was US$17.77 billion, a year-on-year increase of 35%.

The products with rapid growth in output were digital cameras, component analysis instruments, and cameras. The year-on-year growth rates were 401%, 3965%, and 3477%, respectively.

Although the overall technical level of China's instrumentation industry is not as strong as that of foreign developed countries, the market share of some products in foreign countries has been continuously expanding in recent years. The data shows that last year, the export delivery value of China's instrumentation industry increased by 39.2% year-on-year, and the export value exceeded one quarter of the total output value. These data show that the rapid growth of the entire industry is more obvious from the export pull, but at the same time, the impact of changes in the international market on the entire industry is also increasing.

In terms of exports, labor-intensive products represented by electricity meters and water meters are still bright spots. At present, China has become the largest exporter of these two types of products.

From the perspective of industry financial data, due to the rapid development of China's economy, the demand for instruments and meters has grown rapidly. The income and profits of China's instrumentation industry have achieved rapid growth of over 20% for five consecutive years. It is expected that under the background of rapid economic development, the overall growth of the instrumentation industry will remain above 20% for the next two years.