According to the latest study published by Future Market Insights (FMI), the key factors encouraging growth in the global commercial booster pumps market include surging investment toward bettering water infrastructure, coupled with the demand for advanced HVAC systems.The report has estimated the market’s valuation as of 2020 at US $4.7 Bn. It is also forecast to expand at a CAGR of 7.8% between 2020 and 2030. The rising demand for corrosion-resistant pumps along with smart monitoring and controlling are creating lucrative prospects for the market’s growth.
The report offers a comprehensive market overview, offering insights into the prevalent factors. Some of the key takeaways from the report are highlighted below.
Key Takeaways from the global commercial booster pumps market study:
Commercial booster pumps are dominating traditional pumping systems owing to its features of live monitoring and controlling, easy installation, and vibration-free operations.
Customized booster pumps having increased efficiency are attracting end-use industries such as aerospace, mining, and food processing
Both East Asia and Europe have emerged as lucrative markets for commercial booster pumps. In South Asia, the market will witness high demand from countries such as India and Thailand owing to the increasing investments made by the governments towards the development of water infrastructure
Growing applications in end use industries has created a significant demand for customized booster pumps as per the specific use in the industry. Fewer moving parts, no valves or seals are some of customizations preferred across industries
“The increasing demand for water has led to a positive development in different water technologies which have made the commercial booster pumps industry competitive. Consumers are also looking for corrosion and chemical-resistant pumps for application across various end-use industries. Hence, booster pumps are gaining traction across various end use industries and are creating positive prospects for the market growth.” says FMI analyst.
The ongoing pandemic has put a dent in the global economy causing many economic activities to come to a halt. This has also caused a significant plunge in the commercial booster pumps market growth. Many challenges are encountered in the areas of the supply chain, communication, imports and exports, tariffs, and currency fluctuations.
These challenges have created an unstable economic environment and a negative impact on the growth of the booster commercial pumps market. However, as the economic activities are slowing resuming, the commercial booster pump market is also expected to witness a sharp recovery.
The Commercial Booster Pumps Market is moderately consolidated, in which the leading players account for more than one third of the market share. The penetration of small regional players will make this market more competitive in the forecast period. Some of the key players in the market are Grundfos, Xylem Inc., KSB SE & Co. KGaA, Flowserve Corporation, Sulzer Ltd., WILO SE, Gorman Rupp Pump Company, Torishima Pump Mfg. Co., Ltd. among others. These players have higher shares in the global market, and have longstanding relationships with a number of leading end users, giving them an upper hand among their peers.
About Industrial Automation Division at Future Market Insights
The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry
Explore FMI’s Extensive Coverage on Industrial Automation Domain
Wear Plates Market The global wear plate market is expected to register year-on-year growth of 5.1% in 2021, reaching US$ 6.9 Bn by the end of 2021. Wear plates are used in a variety of end-use sectors to assure the long-term safety of the equipment.
Gaskets and Seals MarketThe global gaskets and seals market is anticipated to hold a market value of USD 102 Bn by 2026, while recording a CAGR of 5.4% during the assessment period.
Dust Extractors MarketSales in the global dust extractors market are slated to top US$ 2.2 Bn in 2022. Expanding at a healthy 8.5% CAGR, the market size is projected to total US$ 3.6 Bn by 2028.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reportsand industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
According to the latest study published by Future Market Insights (FMI), the key factors encouraging growth in the global commercial booster pumps market include surging investment toward bettering water infrastructure, coupled with the demand for advanced HVAC systems.The report has estimated the market’s valuation as of 2020 at US $4.7 Bn. It is also forecast to expand at a CAGR of 7.8% between 2020 and 2030. The rising demand for corrosion-resistant pumps along with smart monitoring and controlling are creating lucrative prospects for the market’s growth.
The report offers a comprehensive market overview, offering insights into the prevalent factors. Some of the key takeaways from the report are highlighted below.
Key Takeaways from the global commercial booster pumps market study:
Commercial booster pumps are dominating traditional pumping systems owing to its features of live monitoring and controlling, easy installation, and vibration-free operations.
Customized booster pumps having increased efficiency are attracting end-use industries such as aerospace, mining, and food processing
Both East Asia and Europe have emerged as lucrative markets for commercial booster pumps. In South Asia, the market will witness high demand from countries such as India and Thailand owing to the increasing investments made by the governments towards the development of water infrastructure
Growing applications in end use industries has created a significant demand for customized booster pumps as per the specific use in the industry. Fewer moving parts, no valves or seals are some of customizations preferred across industries
“The increasing demand for water has led to a positive development in different water technologies which have made the commercial booster pumps industry competitive. Consumers are also looking for corrosion and chemical-resistant pumps for application across various end-use industries. Hence, booster pumps are gaining traction across various end use industries and are creating positive prospects for the market growth.” says FMI analyst.
The ongoing pandemic has put a dent in the global economy causing many economic activities to come to a halt. This has also caused a significant plunge in the commercial booster pumps market growth. Many challenges are encountered in the areas of the supply chain, communication, imports and exports, tariffs, and currency fluctuations.
These challenges have created an unstable economic environment and a negative impact on the growth of the booster commercial pumps market. However, as the economic activities are slowing resuming, the commercial booster pump market is also expected to witness a sharp recovery.
The Commercial Booster Pumps Market is moderately consolidated, in which the leading players account for more than one third of the market share. The penetration of small regional players will make this market more competitive in the forecast period. Some of the key players in the market are Grundfos, Xylem Inc., KSB SE & Co. KGaA, Flowserve Corporation, Sulzer Ltd., WILO SE, Gorman Rupp Pump Company, Torishima Pump Mfg. Co., Ltd. among others. These players have higher shares in the global market, and have longstanding relationships with a number of leading end users, giving them an upper hand among their peers.
About Industrial Automation Division at Future Market Insights
The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry
Explore FMI’s Extensive Coverage on Industrial Automation Domain
Wear Plates Market The global wear plate market is expected to register year-on-year growth of 5.1% in 2021, reaching US$ 6.9 Bn by the end of 2021. Wear plates are used in a variety of end-use sectors to assure the long-term safety of the equipment.
Gaskets and Seals MarketThe global gaskets and seals market is anticipated to hold a market value of USD 102 Bn by 2026, while recording a CAGR of 5.4% during the assessment period.
Dust Extractors MarketSales in the global dust extractors market are slated to top US$ 2.2 Bn in 2022. Expanding at a healthy 8.5% CAGR, the market size is projected to total US$ 3.6 Bn by 2028.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reportsand industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.