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Booster Pump Market Trends That Will Shape the Next Decade: Insights from Technological Advancements In Booster Pumps With The Rise of Smart Solutions For Enhanced Efficiency And Real-Time Control
Booster Pump
How Large Will the Booster Pump Market Size By 2025?
The market size of the booster pump has seen significant growth in the past few years. Its value will escalate from $2.55 billion in 2024 to $2.71 billion in 2025, presenting a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be attributed to the expansion of oil and gas sectors, increased food and beverage production, an escalating population, heightened demand in the agriculture sector, and growth in residential construction.
How Big Is the Booster Pump Market Size Expected to Grow by 2029?
It is anticipated that the booster pump market will experience significant growth in the forthcoming years, expanding to $3.41 billion by 2029 with a compound annual growth rate (CAGR) of 5.9%. Factors contributing to growth in the projected period include escalating water consumption, growth in the building and construction sector, rising demand for water, the growing use of pipelines, and increased demand for API and ANSI pumps. Noteworthy trends for this forecast period include the innovations in typically standard pumps, technological evolution in pump systems, the emergence of energy-efficient pumps, advancements in manufacturing solutions, and the creation of innovative products.
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Which Key Market Drivers Powering Booster Pump Market Expansion and Growth?
The expansion of the booster pump market is projected to be spurred by a rise in residential construction activity. The scope of residential construction includes the and development of an array of housing structures, such as single-family residences, apartment complexes, and condos. This process imbues the essential facets of planning, design, and construction to generate habitable environments for individuals or family units. The acceleration of residential construction can be attributed to factors like population growth, urbanization, modifications in lifestyle preferences, and initiatives to promote affordable housing. Booster pumps play a crucial role in maintaining uniform water pressure in multi-storied residential structures or remote locations, thereby optimizing the performance of piping systems and guaranteeing a steady supply of water for daily requirements and fire security measures. For example, data from the Australian Bureau of Statistics, a government entity based in Australia, revealed that privately owned new dwellings numbered 30,992 in March 2024, marking a 14.6% surge as compared to the figures of March 2023. This presents an evidence that the surge in residential construction fuels the growth of the booster pump market.
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Which Fast-Growing Trends Are Poised to Disrupt the Booster Pump Market?
Many major players in the booster pump market are concentrating on technological advancements, such as smart booster pumps, to enhance performance, increase efficiency, and provide capabilities for real-time monitoring and control. These advanced smart booster pumps utilize innovative sensor and control systems to optimize water pressure and energy usage, meeting the ever-growing demand for sustainable solutions in both residential and commercial infrastructural applications. In December 2022, Tecnodyne Pumps Inc., an American industrial pump manufacturing company, introduced the TecnoBoost4 - a smart booster pump. The TecnoBoost4 offers real-time monitoring along with adaptive pressure control, which helps maintain consistent performance while also reducing energy use. Its user-friendly interface supports easy integration and remote managing, making it a suitable choice for a wide range of uses, from residential units to commercial facilities.
What Are the Emerging Segments in the Booster Pump Market?
The booster pumpmarket covered in this report is segmented -
1) By Product: Centrifugal Pumps, Reciprocating Pumps, Rotary Pumps
2) By Type: Single-Stage, Multi-Stage, Other Types
3) By Material: Cast Iron, Aluminum, Stainless Steel, Other Material
4) By Distribution Channel: Direct Sales, Indirect Sales
5) By Application: Household, Commercial, Agricultural, Other Applications
Subsegments:
1) By Centrifugal Pumps: Single-Stage Centrifugal Pumps, Multi-Stage Centrifugal Pumps, Horizontal Centrifugal Pumps, Vertical Centrifugal Pumps, Self-Priming Centrifugal Pumps, End Suction Centrifugal Pumps, In-Line Centrifugal Pumps
2) By Reciprocating Pumps: Single-Acting Reciprocating Pumps, Double-Acting Reciprocating Pumps, Plunger Pumps, Piston Pumps, Diaphragm Pumps, Hydraulic Reciprocating Pumps
3) By Rotary Pumps: Gear Pumps, Screw Pumps, Vane Pumps, Lobe Pumps, Peristaltic Pumps, Progressing Cavity Pumps.
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Who Are the Global Leaders in the Booster Pump Market?
Major companies operating in the booster pump market are Xylem Water Solutions India Private Limited, Ebara Corporation, Grundfos Holding A/S, Pentair plc, Flowserve Corporation, Alfred Kärcher SE & Co. KG, ITT Inc., Weir Group plc, KSB SE & Co. KGaA, Wilo Group SE, Franklin Electric Co. Inc., Ruhrpumpen Group India Pvt. Ltd., Smith & loveless inc., Armstrong Fluid Technology, Calpeda S.p.A., Pedrollo S.p.A., Davey Water Products, Dab Pumps Ltd., CNP Pumps India Pvt. Ltd., Pluga Pumps Co., Aquatec International Inc., Eddy Pump Corporation
Which are the Top Profitable Regional Markets for the Booster Pump Industry?
North America was the largest region in the booster pump market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the booster pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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