The global market for domestic booster pumps is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 7.2% throughout the forecast period. This surge in adoption reflects a growing need for efficient water management solutions.
As we move forward, the domestic booster pumps market is expected to expand from its 2023 valuation of US$2,860.1 million to an impressive US$5,732.3 million by 2033. This growth trajectory is propelled by a combination of factors, including the escalating global population, rising water demand, and a paramount emphasis on energy efficiency.
With the significant rise in the world’s population, the demand for water is witnessing a corresponding increase. This surge in water demand is subsequently spurring a greater need for effective domestic booster pumps to ensure optimal water distribution and management. Manufacturers in this market are strategically prioritizing energy-efficient designs to not only bolster sales but also align with the growing emphasis on sustainability across industries. As a result, energy efficiency is emerging as a pivotal factor driving the expansion of the domestic booster pump market.
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Factors Driving the Growth of the Domestic Booster Pumps Market
- Growing Awareness of Energy Efficiency: A Catalyst for Market Expansion
The market’s growth can be attributed to a heightened awareness among consumers regarding the presence and benefits of energy-efficient technologies. This awareness is driving a shift towards more efficient solutions, fueling the demand for domestic booster pumps.
- E-commerce Expansion: Expanding Sales Avenues for Domestic Booster Pumps
The burgeoning e-commerce industry is significantly broadening the sales channels for domestic booster pumps. This increased online presence is providing consumers with enhanced accessibility and convenience in acquiring these essential water management devices.
- Urbanization and Residences Surge: Fostering Demand for Residential Booster Pumps
The rapid urbanization observed in emerging economies is leading to a surge in residential development. As a result, the demand for booster pumps tailored for domestic and residential applications is experiencing a corresponding upswing, driven by the increasing number of households.
Key Insights:
- The 50-150 W segment is projected to command nearly one-third of the global market value. Pumps within this power range are particularly suited for medium-sized buildings, driving their significant market share.
- When categorized by water pressure, the 1 bar segment is forecasted to contribute to over two-fifths of the market value by the end of the forecast period.
- In terms of applications, domestic booster pumps find predominant use in gardening sprinklers and pipes, capturing approximately 40% of the total market value.
- The offline sales segment is expected to retain the major portion of revenue, while the online sales segment is set to exhibit robust growth rates.
- East Asia, spearheaded by China, is positioned to dominate the global market value. This dominance is buoyed by the thriving residential construction sector in the region.
- The combined market share of North America and Europe is substantial, attributed to the presence of key market players in these regions.
Who is Winning?
Domestic booster pumps manufacturers are directing their efforts towards the research and development activities to produce booster pumps with innovative features. On these lines, plug-and-play booster pumps have emerged as a lucrative design and an increasing number of players are jumping on to the bandwagon to develop energy-efficient designs.
FMI’s report includes profiles of some of the most prominent names in the market including Grundfos, 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., Ltd, CAT Pumps, Zoeller Company, Luckpump Machinery Co., Ltd, Mazzoni SRL, Vossche Pump Group, among others.
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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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