According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Water Booster Pump Market (Product Type: Single Stage and Multiple Stage; Power Rating: 0-1.0 Hp, 1.1-5.0 Hp, 5.1-10.0 Hp, and Above 10.1 Hp; Application: Agriculture, Residential, Commercial, and Industrial [Manufacturing, Automotive, Water & Wastewater, Food & Beverages, and Others]; and Distribution Channel: Online [Company-owned Website and Third Party Website] and Offline [Retailers, and Wholesalers & Distributors]) – Global Industry Dynamics, Trends, and Forecast, 2020–2027,’ the global water booster pump market is expected to reach US$ 6 Bn by 2027 and expand at a CAGR of 6.5% from 2020 to 2027
The global water booster pump market was valued at US$ 3,464.2 Mn in 2018 and is expected to expand at a CAGR of 6.5% from 2019 to 2027. An increase in water scarcity and rise in population is anticipated to boost the global market for water booster pump in the near future.
The Asia Pacific held a major share of the global water booster pump market in 2018 followed by North America and Europe
Middle East & Africa is expected to be a key upcoming market for water booster pump during the forecast period. The rise in construction activities, rapid urbanization, and stringent government regulations are projected to drive the water booster pump market in the region.
Increase in demand for water booster pump from different sectors, such as agriculture, residential sector, commercial sector, and various industries is anticipated to drive the market
Several developed as well as developing regions, such as North America, Asia Pacific, and Europe are adopting a water booster pump for steady water flow. In order to maintain productivity high and stay competitive in the market, farmers are focusing on profitability, which includes energy optimization and better use of water resources. Hence, the demand for water booster pumps is increasing in the agriculture sector.
The growing threat from unorganized sector is expected to have a negative impact on the global water booster pump market growth. With the unorganized sector enjoying huge tax advantages and low overheads, in several sectors, they rule the roost on the basis of a price advantage.
In terms of product type, single-stage pumps are witnessing increased demand, owing to low cost and increased efficiency. Based on the power rating, the 1.1-5 Hp segment held a major share of the global market in 2018.
Based on application, the agricultural sector is the major contributor to the growth of the global water booster pump market
In terms of distribution channel, offline is expected to be the most attractive segment during the forecast period, due to the preference of consumers for offline shopping
In terms of region, the Asia Pacific region accounts for the major share of the global water booster pump market, followed by North America, and Europe. The rise in the number of wastewater treatment and water recycling plants in India and China are significantly fueling the market growth.
Rise in population, rapid industrialization, and increase in infrastructural activities are likely to increase the attractiveness of water booster pump market during the forecast period
The water booster pump market is dominated by several players that are focused on the development of new products to cater to the rising demand
The report includes the below-mentioned pointers of major players operating in the global water booster pump market:
Market Share Analysis (2018)
Business Strategies/Recent Developments
Key Mergers & acquisitions
Aquatec International, Inc.
Dab Pumps Spa
KSB Pumps Limited
Franklin Electric Co., Inc.