Sales revenue of the global commercial booster pumps market stands at US$ 5.41 Bn at present, and is predicted to reach a valuation of US$ 10.06 Bn by the end of 2030. Over the 2022 to 2030 forecast period, worldwide shipments of commercial booster pumps are estimated to increase at 8.1% CAGR.
According to the report, the market will be worth US $4.7 billion in 2020. In addition, a CAGR of 7.8% is anticipated 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.
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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.
Covid-19 impact analysis:
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.
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Commercial booster pumps market competitive landscape:
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.
