Submersible pump market to grow by 6.7% a year until 2019

The global submersible pump market is set to grow at a compound annual growth rate of 6.7% over the period of 2015-2019, according to a new market study.

In the study Technavio, a global technology research and advisory company, says the boost in the sale of submersible pump worldwide is because of the growth in the wastewater management industry, which is growing at a fast rate in APAC.

According to the world water development report, only 20% of the waste water produced receives proper treatment, which is as low as 8% in low-income countries.

With the growing environmental concerns, the government and municipal corporations of many of these countries are focusing on developing infrastructure for waste water management and producing safe drinking water.

The full study is available at https://wiseguyreports.com/reports/global-submersible-pump-market-2015-2019.