Advancement in technology and urbanization is influencing the domestic booster pumps market. According to a new study by FMI, global domestic booster pumps market will grow at 6.9% through 2030, with rising focus on energy-efficiency driving investments.
“These pump are conveniently used to supply water to the lawns in residential sectors. Better investments in R&D activities to develop energy-efficient devices is likely to propel market growth in the future”
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Domestic Booster Pumps Market – Key Highlights
- Market is anticipated to reach US$ 4.64 billion by 2030
- East Asia remains the most lucrative segment and is poised to witness significant growth in the future too.
- Home and domestic booster pumps will find better usage due to increased applications as gardening sprinklers.
- Growth in e-commerce segment will create new opportunities for market players
Domestic Booster Pumps Market – Driving Factors
- Steady recovery in infrastructure activities is driving sales of domestic booster pumps
- Rising awareness on energy-efficiency, especially in developing countries, is driving growth
Domestic Booster Pumps Market – Key Restraints
- Blockage of pipelines due to mismanagement and lesser usage can cause severe problems, resulting in reduced demand.
- High installation costs of control units and sensors also hampers the market growth.
Expected Impact on Market by Coronavirus Outbreak
The Covid-19 outbreak has posed severe challenges due to strict government regulations on production and supply. The pandemic has affected construction activities due to complete shutdown across the globe. 16.6% unemployment rate in the construction industry due to COVID, resulted in a terrible loss. Due to labour shortage, construction was at a halt for a very long time in USA. Whereas, Europe is expected to witness a 15-20% decline in revenue from construction industry due to shortage of raw materials, thereby, reducing adoption of pumps.
Competition Landscape
Some of the key players in the market are Xylem Inc., KSB SE & Co. KGaA, Flowserve Corporation, Sulzer Ltd., WILO SE, Gorman Rupp Pump Company, Torishima Pump Mfg. Co., Ltd., LEO Group, CAT Pumps, Zoeller Company, Luckpump Machinery Co.
Manufacturers are channelling their effort and improving distributions throughout. Intense competition is driving the market in a very effective manner.
For instance, Franklin Electric Co. acquired 70% stock of Pluga Pumps to strengthen regional presence and enhance product portfolio.
In 2019, Grundfos collaborated with Siemens AG to deal with water shortage challenges and planned to save energy by focussing on water and wastewater applications.
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Key Segments Covered in the Domestic Booster Pumps Market Report
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
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of 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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