In a new market study, Future Market Insights (FMI) opines global Domestic Booster Pumps Market to surpass US$ 4.63 Bn by 2033, growing at a 7.2% CAGR through 2033.
The document attributes the boom of the marketplace to rising recognition among consumers concerning the provision of strength-green technologies. Furthermore, the growth of the e-commerce enterprise is widening the sales channel for domestic booster pumps.
Having studied the effect of the COVID-19 pandemic, the report opines that the call for residential pumps is predicted to enjoy a downtrend for the duration of the pandemic, as the focus of both producers and purchasers shifts in the direction of vital and emergency utilities. Speedy urbanization in rising economies and the consequential increase in the variety of residences are also propelling demand for booster pumps designed for domestic and residential purposes.
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Key Takeaways
The 50-150 W segment will capture nearly 1/3rd of global value as pumps with a power rating in this range are ideal for medium-sized buildings.
By water pressure, 1 bar segment is expected to account for over 2/5th of market value by the end of the forecast period.
Domestic booster pumps find the majority of applications in gardening sprinklers and pipes, capturing around 2/5th of total market value.
The offline sales segment will continue to channel the majority of revenue, while the online sales segment is poised to grow at an impressive rate.
East Asia, led by China, is poised to hold the lion’s share in global market value, backed by the presence of a flourishing residential construction sector.
North America and Europe will cumulatively account for a prominent market share, owing to the presence of major market players.
Similarly, the pandemic has adversely affected the residential construction activities, causing a complete shutdown across several nations, and this is likely to impede the demand for systems designed for the residential sector, including home and domestic booster pumps market.
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Key Segments of Domestic Booster Pumps Industry Survey
Domestic Booster Pumps Market by Rated Power:
· 10 – 50 W Domestic Booster Pumps
· 50 – 150 W Domestic Booster Pumps
· 150 – 300 W Domestic Booster Pumps
· Above 300 W Domestic Booster Pumps
Domestic Booster Pumps Market by Water Pressure:
· 0.5 Bar Domestic Booster Pumps
· 1 Bar Domestic Booster Pumps
· Above 1 Bar Domestic Booster Pumps
Domestic Booster Pumps Market by Application:
· Domestic Booster Pumps for Kitchens
· Domestic Booster Pumps for Bathrooms
· Domestic Booster Pumps for Water Heater Units
· Domestic Booster Pumps for Gardening Sprinklers & Pipes
Domestic Booster Pumps Market by Sales Channel:
· Online Sales of Domestic Booster Pumps
· Offline Sales of Domestic Booster Pumps
Domestic Booster Pumps Market by Region:
· North America Domestic Booster Pumps Market
· Latin America Domestic Booster Pumps Market
· Europe Domestic Booster Pumps Market
· East Asia Domestic Booster Pumps Market
· South Asia & Pacific Domestic Booster Pumps Market
· Middle East & Africa (MEA) Domestic Booster Pumps Market
About Future Market Insights, Inc.
Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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