FMI Research Survey On Commercial Booster Pumps Market Details Regional Assessment For Regions Such As North America, Latin America, Europe, East Asia, South Asia & Pacific, And The Middle East & Africa (MEA).
The East Asia commercial booster pumps market is anticipated to provide highly rewarding opportunities for commercial booster pump manufacturers over the forecast period. In 2022, the market in this region holds a significant market share of 23.3% in the global industry landscape. Increasing urbanization and rising population are expected to be the major factors governing market potential in this region.
Second, to East Asia, the commercial booster pumps market in Europe follows closely accounting for a market share of 22.4%. The presence of key commercial booster pump manufacturers is anticipated to be a major factor propelling market potential in this region. Germany is expected to be a highly rewarding market for the sales of commercial booster pump systems in this region.
The market for commercial booster pumps in South Asia and the Pacific accounts for a market share of 18.7% in the global marketplace, and demand for industrial water pressure booster pumps is predicted to be high in this region.
According to the latest study published by Future Market Insights (FMI), the key factors encouraging growth in the global commercial booster pumps market include surging investment toward bettering water infrastructure, coupled with the demand for advanced HVAC systems.
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The report has estimated the market’s valuation as of 2022 at US $5.41 Bn. It is also forecast to expand at a CAGR of 8.1% between 2022 and 2030. The rising demand for corrosion-resistant pumps along with smart monitoring and controlling are creating lucrative prospects for the market’s growth.
The report offers a comprehensive market overview, offering insights into the prevalent factors. Some of the key takeaways from the report are highlighted below.
Key Takeaways from the global commercial booster pumps market study:
- Commercial booster pumps are dominating traditional pumping systems owing to its features of live monitoring and controlling, easy installation, and vibration-free operations.
- Customized booster pumps having increased efficiency are attracting end-use industries such as aerospace, mining, and food processing
- Both East Asia and Europe have emerged as lucrative markets for commercial booster pumps. In South Asia, the market will witness high demand from countries such as India and Thailand owing to the increasing investments made by the governments towards the development of water infrastructure
- Growing applications in end-use industries have created a significant demand for customized booster pumps as per the specific use in the industry. Fewer moving parts, no valves or seals are some of the customizations preferred across industries
Covid-19 impact analysis:
The ongoing pandemic has put a dent in the global economy causing many economic activities to come to a halt. This has also caused a significant plunge in the commercial booster pumps market growth. Many challenges are encountered in the areas of the supply chain, communication, imports and exports, tariffs, and currency fluctuations.
These challenges have created an unstable economic environment and a negative impact on the growth of the booster commercial pumps market. However, as the economic activities are slowing resuming, the commercial booster pump market is also expected to witness a sharp recovery.
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Commercial booster pumps market competitive landscape:
The Commercial Booster Pumps Market is moderately consolidated, in which the leading players account for more than one third of the market share. The penetration of small regional players will make this market more competitive in the forecast period. Some of the key players in the market are Grundfos, Xylem Inc., KSB SE & Co. KGaA, Flowserve Corporation, Sulzer Ltd., WILO SE, Gorman Rupp Pump Company, Torishima Pump Mfg. Co., Ltd. among others. These players have higher shares in the global market, and have longstanding relationships with a number of leading end users, giving them an upper hand among their peers.
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