BURNABY, British Columbia — A recent TechSci Research report entitled "China Water Pumps Market Forecast & Opportunities, 2018," predicts that the water pumps market revenues of China will grow threefold from 5.2 billion in 2012 to around 14 billion in 2018, according to a press release on Digital Journal.
The fresh water resources in China declined by 13 percent between 2000 and 2009; this declining groundwater level combined with rising water demand is boosting the water pump market in the country, the release reported.
According to the release, water distribution is highly fragmented in China, with the southern region receiving 80 percent of the rainfall and snowmelt while the northern and western regions receive only 20 percent.
China's plans to invest trillions in new power plants by 2030 will also contribute to water pump market growth, the release noted.
Read the full release here.
