Petrochemical equipment is the foundation and guarantee for the development of China’s petrochemical industry，and it is also the key to promote China’s petrochemical industry to be refined，efficient，green，intelligent and information-based. This report discusses the development status，market pattern and technical trend of the international petrochemical equipment industry. This report deeply studies and analyzes the asset scale，revenue，profitability，debt level，operation efficiency，technical level and existing problems of each sub industry of petrochemical equipment in China. The analysis shows that in 2020，the operating revenue of China’s petrochemical equipment industry will maintain steady growth，the profitability will be improved，and the asset liability ratio will be more optimized. New technological breakthroughs have been made in key core equipment，and the ability of equipment localization has been improved. However，the external environment is more complex and the market risk is increasing. Under the influence of COVID-19，the risks of upstream and downstream industry chain and related industries are increasing. In the future，innovation should lead the development of the industry to actively promoted transformation and upgrading of the petrochemical equipment. Also，the petrochemical equipment industry should establish the concept of green development and strengthen international cooperation.