New York, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Consegic Business Intelligence analyzes Booster Pump Market is expected to witness significant growth at a remarkable CAGR of 4.3% during the forecast period of 2023-2030. The factors such as increasing focus on water conservation and wastewater management, high demand for booster pumps for household applications, and others are accelerating the demand for booster pump, which, in turn, is benefiting the market growth. In addition, increasing urbanization along with industrialization will further boost market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the booster pump market is poised for strong expansion and is expected to reach USD 3,402.04 Million by 2030. The market, which was valued at USD 2,443.59 Million in 2022, is predicted to grow at a compound annual growth rate of 4.3% during the period 2023-2030. The report highlights the increasing focus on water conservation and wastewater management across various industries across the globe, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the booster pump market.
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The booster pump is a very important product in water conservation and wastewater treatment facilities. Booster pump in the water treatment facilities are used for the efficient transport of water from one tank to another. Various companies across the globe are focusing on the development of waste water treatment facilities at their companies to achieve sustainability and fulfill various government norms. For instance, in September 2022, Lanxess, a global manufacturer, distributor, and supplier of specialty chemicals, announced the launch of its new wastewater treatment plant in Kallo/Antewerp site, Belgium with an investment of US$ 13.37 million. The new plant will have a capacity of 260,000 liters of wastewater per hour. Hence, the increase in the focus on the development of wastewater treatment facilities is anticipated to grow the demand for booster pumps across the globe. This, in turn, is benefiting market growth.
Booster pumps are heavily used in numerous applications in households or residential. The smaller size and high efficiency of booster pumps make them an ideal choice for water management in household systems. Municipal water reaching out to residential buildings or homes is usually low in pressure. Due to this the transport of water from the municipal water system to household storage tanks becomes difficult. Booster pumps improve the water pressure at all fractures in the household, including water tanks, garden sprinklers, taps, swimming pools, showers, toilets, and faucets, among others. The significant growth in residential construction activities across the globe is expected to boost the demand for booster pumps for various household applications. For instance, according to the data published by New Zealand Government in October 2022, the growth in residential construction activities across New Zealand in 2021 accounted for a 7.1% increase from the previous year. Hence, the bolstering of residential construction along with the strong demand for booster pumps for various household applications is accelerating the demand for booster pumps. This, in turn, is driving the growth of the market.
Global Booster Pump Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 3,402.04 Million |
| CAGR (2023-2030) | 4.3% |
| By Type | Single Stage and Multi Stage |
| By Power Source | Electric, Diese, Gasoline and Others |
| By Application | Polyurethane Elastomers, Radiation Curable Urethane Acrylates, Polyurethane Dispersions (PUDs), Thermoplastic Polyurethanes (TPUs), Resins, and Others |
| By End-use Industry | Building & Construction, Textile, Chemicals, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Alfred Karcher SE & Co. KG, Aquatec International, Inc., Dab Pumps S.p.A., Eddy Pump Corporation, Franklin Electric Co., Inc., Grudfos., karcher International, Pentair, Smith & Loveless Inc., Witte Pumps & Technology GmbH, and Zodiac Pool Solutions |
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Global Booster Pump Market Segmentation Details:
Based on Type, the multi stage segment contributed the largest shares to the market growth in 2022. Booster pump is used to improve the pressure of the fluid usually liquid as it passes through it. The structure of the multi stage booster pump is composed of multiple impellers which help to increase the pressure of the fluid passing through it. Owing to the above mentioned ability, a multistage booster pump is majorly used in industrial applications where high pressure and highly efficient pumps are required. Such pumps are used in boiler feed, reverse osmosis plants, water supply, irrigation, firefighting, and other applications, which, in turn, is benefiting the market growth.
Based on Power Source, the electric power source accounted for the largest market share in the year 2022. Electric booster pumps offer numerous benefits over diesel or gasoline powered booster pump. Electric water pumps are heavily employed by the mining and construction industry for the dewatering applications of their locations and sites. Electric booster pumps are getting more popular across these sectors due to increasing environmental regulations for the pollution caused by diesel pumps. It also provides several benefits such as the electric booster pump requiring low maintenance as compared to diesel or gasoline powered ones, it can operate continuously without failure, it is environment friendly, and it also reduces the risk of cavitation at the impeller site. Significant growth in the mining industry across various developing economies across the globe is expected to propel the segment growth. For instance, according to the data published by the Indian Ministry of Mines in March 2023, the mining sector in India recorded a growth of 12.56% in the financial year 2021 from the previous year 2020. This, in turn, will boost the segment growth in the forecast period.
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Based on End User, the industrial segment contributed the largest shares to the market growth in 2022. Booster pumps are used across various end user industries such as wastewater treatments, boiler feed industries, food processing, dairy, reverse osmosis plants, oil and gas industry, chemical industry, and others for the effective transport of fluid from one location to another. Reverse osmosis plants are used for water desalination, purification, and water treatment in industries such as pharmaceuticals, food and beverages, semiconductors, manufacturing, and others. Booster pumps are integral to these systems, ensuring proper fluid pressure for various applications in these sectors. A booster pump in the oil and gas industry is used for the transport, refinement, and collection of substances. Owing to the above mentioned applications, booster pumps are heavily used across the industrial sector. This significant growth in these industries is expected to drive segment growth over the estimated period. For instance, according to the data published by the International Trade Administration in September 2022, the chemical industry in India accounted for US$ 180 billion in 2020 and it is estimated to reach US$ 304 billion in 2025.
Based on Distribution Channel, the building & construction accounted for the largest market share in the year 2022. There are numerous local as well as international brands available for booster pumps. Booster pumps also come in a variety of power, efficiency, and types which makes the selection of a particular application booster pump very difficult. In offline channel, customers can receive personalized assistance from the sales representative or technical expert who can help them choose the right pump for their specific needs. This personalized service is especially valuable in industries where the requirements can be complex and demanding. Furthermore, many customers, especially in the industrial sector, prefer face-to-face interactions when making significant purchases in terms of machinery such as booster pumps. In such a situation building trust is a crucial part, and offline channels provide a platform for direct engagement, which enables the business to choose from the best product available. Such factors are driving the growth of the offline channel segment among the distribution channels over the forecast period.
Based on Region, in the year 2022, North America accounted for the largest share contribution to the market growth, owing to the growth of the various end users, including commercial, industrial, residential, and others. The significant growth in food, agriculture, and other industries across the region is expected to propel the market growth. For instance, according to the report by the United States Department of Agriculture in January 2023, in 2021, the food, agriculture, and others in the United States contributed US$ 1.264 trillion to the total GDP (Gross Domestic Product) U.S. which accounted for 5.4% of the total share.
Competitive Landscape
Alfred Karcher SE & Co. KG, Aquatec International, Inc., Dab Pumps S.p.A., and Grudfos are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of booster pump. Further, the booster pump market is expected to grow steadily due to increasing demand for booster pump for reverse osmosis, water transportation, and others, especially in the regions such as Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing the development of technologically advanced booster pump in the forecast years, thereby anticipated to increase the competition in the market.
Recent Developments
- In February 2023, Ebara Corporation announced the development of it liquid hydrogen booster pump which is used for hydrogen power generation. The pump will be used to supply hydrogen to hydrogen power generation systems.
- In April 2022, Winston Engineering Corporation announced the launch of a new booster pump system named Esybox Max. As per the company, the new booster pump is helpful to save energy as well as be energy efficient.
- In August 2021, Grundfos India announced the launch of its new booster pump named SCALA1, which is a high efficiency, hydraulic, low-noise operation booster pump.
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Key Market Takeaways
- North America accounted for the highest market share at 36.50% and was valued at USD 891.91 million in 2022 and is expected to reach USD 3,402.04 million in 2030. Moreover, in North America, the U.S. accounted for the highest market share of 65.77% during the base year of 2022.
- Based on type, the multi stage segment accounted for the highest share contribution to the booster pump market statistics in 2022.
- In the context of power source, the electric segment is expected to contribute significant shares to the growth of booster pump market statistics during the forecast period.
- Based on end user, the industrial segment accounted for the highest share contribution to the booster pump market statistics in 2022.
- In the context of the distribution channel, the offline channel segment is expected to contribute significant shares to the growth of booster pump market statistics during the forecast period.
- Asia Pacific is expected to grow with the highest CAGR in the booster pump due to the increasing development of industrial, commercial, and agricultural projects in the region.
List of Major Global Booster Pump Market:
- Alfred Karcher SE & Co. KG
- Aquatec International, Inc.
- Dab Pumps S.p.A.
- Eddy Pump Corporation
- Franklin Electric Co., Inc.
- Grudfos.
- karcher International
- Pentair
- Smith & Loveless Inc.
- Witte Pumps & Technology GmbH
- Zodiac Pool Solutions
Global Booster Pump Market Segmentation:
- By Type
- Single Stage
- Multi Stage
- By Power Source
- Electric
- Diesel
- Gasoline
- Others
- By End User
- Residential
- Commercial
- Industrial
- Municipal
- Agriculture
- Others
- By Distribution Channel
- Online Channel
- Offline Channel
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Frequently Asked Questions in the Booster Pump Market Report
- What was the market size of the booster pump industry in 2022?
- In 2022, the market size of booster pump was USD 2,443.59 million
- What will be the potential market valuation for the booster pump industry by 2030?
- In 2030, the market size of booster pump will be expected to reach USD 3,402.04 million.
- What are the key factors driving the growth of the booster pump market?
- Increasing focus on water conservation and wastewater management is benefiting the market growth.
- What is the dominating segment in the booster pump market by power source?
- In 2022, the electric segment among the power source accounted for the highest market share of 41.75% in the overall booster pump market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the booster pump market?
- North America accounted for the highest market share in the overall booster pump market.
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