The global commercial booster pumps market is currently worth US$5.41 billion and is expected to be worth $10.06 billion by the end of 2030. Worldwide shipments of commercial booster pumps are expected to increase at an 8.1% CAGR from 2022 to 2030.
The market will be worth $4.7 billion in 2020, according to the report. Furthermore, a CAGR of 7.8% is predicted between 2020 and 2030. The rising demand for corrosion-resistant pumps, combined with smart monitoring and control, is creating lucrative opportunities for market growth.
The report provides a thorough market overview, as well as insights into the prevalent factors. Some of the report’s key takeaways are highlighted below.
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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 has 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 customizations preferred across industries
“The increasing demand for water has led to a positive development in different water technologies which have made the commercial booster pumps industry competitive. Consumers are also looking for corrosion and chemical-resistant pumps for application across various end-use industries. Hence, booster pumps are gaining traction across various end use industries and are creating positive prospects for the market growth.” says FMI analyst.
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.
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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Key Segments of Commercial Booster Pumps Industry Survey
Commercial Booster Pumps Market by Pump Type:
- Single-stage Commercial Booster Pumps
- Dual-stage Commercial Booster Pumps
- Multi-stage Commercial Booster Pumps
Commercial Booster Pumps Market by Operating Pressure:
- 0.5 – 1 Bar Commercial Booster Pumps
- 1 – 5 Bar Commercial Booster Pumps
- 5 – 10 Bar Commercial Booster Pumps
- 10 – 20 Bar Commercial Booster Pumps
- 20 – 25 Bar Commercial Booster Pumps
- 25 – 50 Bar Commercial Booster Pumps
- Above 50 Bar Commercial Booster Pumps
Commercial Booster Pumps Market by End Use:
- Commercial Booster Pumps for Municipal Water & Wastewater Management
- Commercial Booster Pumps for Groundwater & Rainwater Harvesting
- Commercial Booster Pumps for District Cooling & Heating
- Commercial Booster Pumps for HVAC
- Commercial Booster Pumps for Commercial Buildings
- Commercial Booster Pumps for Agriculture & Irrigation
- Commercial Booster Pumps for Fire Control & Engineering
- Commercial Booster Pumps for Industrial Processes
Commercial Booster Pumps Market by Sales Channel:
- Online Sales of Commercial Booster Pumps
- Offline Sales of Commercial Booster Pumps
Commercial Booster Pumps Market by Region:
- North America Commercial Booster Pumps Market
- Latin America Commercial Booster Pumps Market
- Europe Commercial Booster Pumps Market
- East Asia Commercial Booster Pumps Market
- South Asia & Pacific Commercial Booster Pumps Market
- Middle East & Africa (MEA) Commercial Booster Pumps Market
Related Links –
https://homment.com/nFsNwJtQu4yCmQ6kVgB1
https://sba-online.net/read-blog/57367
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