The PMP Corporation was founded in 1950. The company was formerly called petroleum Meter and Pump Company. It started by manufacturing station pump meters but has expanded to produce a range of materials.
It produces meters, ticket printers, registers, point of sale equipment, pumps, vapours recovery equipment, remanufactured dispenser computer heads, electric resets, pulsars, journal and receipt printers and offers many services in these areas. It distributes equipment worldwide. (PMP Corporation, 2004)Current Situation:The PMP market has in most developed countries reach its maximum and the future sees a downward trend. So, iSuppli forecasts that the compound average growth rate of PMP shipment will be only 4.3 percent in the coming several years compared to 96.1 percent recorded in the period 2002-2007(Research in China, 2008)The increase in a large number of manufacturers have enabled PMP manufacturers to launch low-cost products one after the other, but this has which has lead to a sharp fall in PMP prices.
Yet sales have increased because of the low prices. In 2007, China PMP market sales were about 2.99 million units, of which, 2.38 million units were for the sales of flash memory, amounting to 79.5 percent.(Research in China,2008) However these sales rely on upgrades .
Future predictions:However future growth will depend on creation of more product lines which can bring about further changes and updating systems. Whilst there is potential for this to happen there is also the risk that these machines will need to be replaced which will bring very high costs. In an example of petrol stations bringing an old gas pump up to date ,changing the mechanical display costs between 600 to 800 dollar and having the machine replaced by a computerised model can cost $10000 which is beyond what many owners can afford (Podsada, 2008) There will come a time when these will have to be replaced!!!
