Booster Pump Market Forecast 2023 - 2030
Report ID : CBI_1171 |
| Published Date:
| Format :
| Base Year: | 2022 |
|---|---|
| CAGR: | 4.3% |
| Forecast Year: | 2023 - 2030 |
| Revenue 2022: | $2,443.59 Mn |
| Revenue 2030: | $3,402.04 Mn |
Booster Pump Market Forecast 2023 - 2030
Market Overview :
Consegic Business Intelligence analyzes that the Booster Pump market is growing with a healthy CAGR of 4.3% during the forecast period (2023-2030), and the market is projected to be valued at USD 3,402.04 Million by 2030 from USD 2,443.59 Million in 2022.
Market Definition :
A booster pump is a type of machine that is used to increase the water pressure, it is specially designed to overcome the low pressure by inadequate flow rates and ensure sufficient water supply in various applications. Booster pumps are typically used in industrial, commercial, residential, and municipal applications to improve the pressure of the water supply from two endpoints. Booster pumps improve the pressure at faucets, taps, and showers from the storage tank or throughout the commercial facilities.
The basic function of booster pumps is to take fluid from a low-pressure source, such as a water tank or supply line, and then increase its pressure before delivering it to the desired location. It maintains consistent fluid supply and flow rates, even in situations where natural fluid pressure is insufficient to meet the demand of the system of the users. In industrial applications, booster pumps are used in water filtration units, reverse osmosis plants, HAVC (Heat, ventilation, and Air conditioning) units, water treatment plants, and boiler feeds, among other industrial applications where high pressure fluid is required.
Market Dynamics :
Drivers :
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Increasing focus on water conservation and wastewater management benefiting the market growth
The booster pump is a very important product in water conservation and wastewater treatment facilities. In water treatment facilities, booster pumps are used for the efficient transport of water from one tank to another. A typical wastewater treatment facility is composed of various tanks such as receiving tanks, aeration tanks, sludge tanks, clarifier tanks, and effluent tanks, among others. Booster pumps help to transfer the water in these tanks. In the absence of a booster pump in the water treatment plant, there would be the possibility of sewage stagnation in the water treatment plant, which could lead to several health-related issues. Various companies across the globe are focusing on the development of wastewater 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 lunch 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 the market growth.
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High demand for booster pumps for household applications is boosting the growth of the market
Booster pumps are heavily used in household or residential applications for various purposes. The smaller size and high efficiency booster pumps are an ideal choice for water management in the residential sector. Municipal water reaching out to residential buildings or homes are generally low in pressure. Due to this the transport of water from the municipal water system to household storage tanks become difficult. Booster pumps improve the water pressure at all fixtures in the household, including water tanks, garden sprinklers, taps, swimming pools, showers, toilets, faucets, and 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 the booster pump market.
Restraint :
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High operating and maintenance costs are restraining the market growth
Booster pumps are heavily used across various environments such as hotels, leisure centers, spas, apartments, households, and other locations where adequate water supply is required. Booster pumps can result in several problems when they are not maintained properly. Booster pump works on various power sources, such as electricity, diesel, gasoline, and others. A typical booster pump consumes a large amount of energy for fluid transport, increasing prices of energy results in the high operating cost of these booster pumps making them uneconomical for generic applications. Furthermore, after several usages of the same booster pump, it starts showing various problems such as difficulties in starting, high noise, leakages, contamination, lower water pressure, or higher water pressure, which could damage the pipe system. These problems can be avoided by doing regular maintenance of the booster pumps which also comes with a high cost. Thus, the surging energy prices along with the high operating and maintenance cost of booster pumps are posing a major roadblock to the revenue growth of the market.
Opportunities :
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Increasing urbanization along with industrialization will favor the market growth
Booster pumps are ideally used in various applications in residential, commercial, and industrial end-use industries for the consistent transport of water from two points. The increasing urbanization along with industrialization across the various parts of the globe is exponentially improving the demand for water, energy, and other essential resources. The expansion in the urban sectors across the globe is increasing the demand for reliable water supply. Booster pumps play a crucial role in maintaining the water pressure and enabling the smooth flow of water throughout the pipelines, especially in high-rise buildings and sprawling urban areas. Moreover, booster pumps are also employed in various industrial sectors such as food processing, petrochemicals, mining, and others to facilitate the water supply. For instance, according to the report by World Bank in April 2023, by the year 2045, the global urban population is expected to reach 6 billion which will be 1.5 times more than the current urban population. Significant growth in urbanization and increasing industrialization across the globe is expected to provide lucrative growth opportunities for the booster pump market over the estimated period.
Booster Pump Market Report Coverage :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | 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 End User | Residential, Commercial, Industrial, Municipal, Agriculture, and Others |
| By Distribution Channel | Online Channel and Offline Channel |
| By Region | North America, Europe, Asia-Pacific, Latin America, and 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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Download Sample ReportMarket Segmentation :
By Type :
The type segment is categorized into single stage and multi stage. In 2022, the multi-stage pump segment accounted for the highest market share in the booster pump market, and also growing with the highest CAGR in the forecast year. The 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, fire fighting, and other applications. The high benefits of multistage pumps in the industrial sector is expected to drive segment growth across the globe over the forecast period.
By Power Source :
The power source segment is categorized into electric, diesel, gasoline, and others. In 2022, the electric segment accounted for the highest market share of 41.75% in the overall Booster Pump market, and also growing with the highest CAGR in the forecast year. Electric booster pumps offer numerous benefits over diesel or gasoline powered booster pumps. 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 pumps 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.
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Download Sample ReportBy End User :
The end user segment is categorized into residential, commercial, industrial, municipal, agriculture, and others. In 2022, the industrial segment accounted for the highest market share in the booster pump market. 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, and manufacturing, among others. Booster pumps are integral to these systems, ensuring proper fluid pressure for various applications in these sectors. In the oil and gas industry, a booster pump 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.
However, the commercial segment accounted for the fastest growing segment over the forecast period, owing to the increasing demand for booster pumps across commercial buildings, fountains, and aquariums, among others.
By Distribution Channel :
The distribution channel segment is categorized into online channel and offline channel. In 2022, the offline channel segment accounted for the highest market share and it is expected to hold the highest CAGR over the forecast period in the booster pump market. There are numerous local as well as international brands available for booster pumps. Boosters pumps also come in a variety of power, efficiency, and types which makes the selection of a particular application booster pump very much 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 situations 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 channel over the forecast period.
By Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Regional Growth Insights
Download Sample ReportIn 2022, North America accounted for the highest market share at 36.50% and was valued at USD 891.91 million, and is expected to reach USD 1,243.44 million in 2030. In North America, the U.S. accounted for the highest market share of 65.77% during the base year of 2022. This is due 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 other 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.
Furthermore, Asia Pacific is expected to witness significant growth over the forecast period, growing at a CAGR 5.0% during 2023-20230. This is due to the increasing development of industrial, commercial, and agricultural projects in the region.
Details Countries Growth Insights
Download Sample ReportBooster Pump Market Competitive Landscape:
The booster pump market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include
- 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
Recent Developments :
- In February 2023, Ebara Corporation announced the development of its 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 energy efficiency.
- 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.
Frequently Asked Question
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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