The market for domestic booster pumps worldwide is anticipated to grow from its current value of US$ 2.68 billion to US$ 4.63 billion by the end of 2030, rising at a CAGR of 7.1% between 2022 and 2030.
In 2020, domestic booster pump sales held a 28% market share for all booster pump sales worldwide. Sales of domestic water booster pump systems are expected to increase significantly over the next few years as a result of the growing urbanisation in China and India, two emerging economies.
Rapid urbanization in emerging economies and the consequential increase in the number of residences is also propelling demand for booster pumps designed for domestic and residential purposes.
Having studied the impact of the COVID-19 pandemic, the report opines that the demand for residential pumps is expected to experience a downtrend during the pandemic, as the focus of both manufacturers and consumers shifts towards essential and emergency utilities.
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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.
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Rising population across the world has driven the consumption of domestic booster pumps in recent years. Domestic booster pump sales rose at a CAGR of 4% from 2015 to 2021 and held a market value of US$ 2.52 Bn in 2021.
Increasing population across the world, rising demand for domestic water supply management, growing consumption of water, the rising establishment of high-rise residential complexes, and rapid urbanization are some of the major factors that influence domestic booster pump demand through 2030.
Increasing residential construction activity in regions of East Asia and North America is anticipated to provide good opportunities for domestic booster pump manufacturers over the forecast period. On the other hand the market is expected to be restrained to some extent by technical issues faced by domestic water booster pumps.
Demand for domestic booster pumping systems is anticipated to surge at a CAGR of 7.1% from 2022 to 2030.
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Pumps for domestic water supply have seen a hike in demand due to increased urbanization across the globe and rising demand for better water management facilities. Residential infrastructural activity has substantially increased in recent years and is projected to follow a similar trend through 2030.
Rising number of residential complexes subsequently drives sales of residential domestic water booster pumps, domestic water booster pump systems, domestic booster sets, etc.
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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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