The domestic booster pumps market is set for significant expansion, with a resilient Compound Annual Growth Rate (CAGR) of 7.2% expected over the forecast period. Projections indicate a noteworthy valuation of USD 5,732.3 million by 2033, reflecting a substantial increase from its 2023 value of USD 2,860.1 million, according to insights provided by FMI.
This surge is driven by the exponential growth in global population alongside an escalating demand for water resources. As the pursuit of clean water intensifies among a burgeoning populace, there is a noticeable uptick in the demand for domestic booster pumps. These essential devices, crucial for maintaining consistent water pressure, have become integral to contemporary living, highlighting their pivotal role in shaping evolving market dynamics.
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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)
Read More: https://www.futuremarketinsights.com/reports/domestic-booster-pumps-market
