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Domestic Booster Pumps Market size was over USD 2.91 billion in 2023 and is projected to reach USD 7.27 billion by 2036, witnessing around 7.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of domestic booster pumps is assessed at USD 3.08 billion.
The rising population globally is leading to surge in residential construction along with the increase in demand for water. Further, rising immigration of people towards urban areas owing to the changes in lifestyle and living habits is creating healthy demand for domestic booster pumps. The growth in construction industry has lead to huge demand for efficient pumping solutions. Additionally, in order to operate and monitor easily, consumers are shifting from traditional pumps to booster pumps. Moreover, water management from certain municipal corporations are poor which results into pressure of water during peak hours owing to huge demand from consumers. Driven by these prominent factors along with the increasing energy crisis.
Growth Drivers
Rising Research & Development Activities
The surge in the activities of research & development for the development of smart pump systems in order to save energy is driving the growth of the market. The manufacturers are improving their production capabilities to reach the convenience of users by creating plug and play booster pumps. In addition, despite of COVID-19 outbreak which has lead to loss of essential services, the domestic booster pump companies are still addressing emergency situations in order to meet the demands of customers. In case of any fault in domestic booster pumps and other essential services, the customer can register for issues and the dedicated service department will address the situation. Further, research & development is taking responsibilities of crisis that requires prearranged time for the collection of goods. The limited environmental footprint along with the minimum maintenance related to domestic booster pumps is boosting the market growth over the forecast period.
Challenges
High Cost Associated with the Product
The currently available domestic booster pumps work on electricity, which leads to the rise in electricity cost and makes it expensive. Further, these booster pumps working on electricity are not environment friendly and do not save energy. Hence, these factors are expected to hinder the market growth during the forecast period.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
7.3% |
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Base Year Market Size (2023) |
USD 2.91 billion |
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Forecast Year Market Size (2036) |
USD 7.27 billion |
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Regional Scope |
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Based on product type, domestic booster pumps market is segmented into single stage and multiple stage, out of which, multiple stage is anticipated to witness lucrative growth in the market on the account of increased adoption of multiple stage domestic booster pumps to accelerate water supply in tall buildings. Further, multiple stage pumps are widely used in hilly areas to boost water supply for both commercial and agricultural uses.
Our in-depth analysis of the global market includes the following segments
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By Product Type |
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By Distribution Channel Type |
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By End Users
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Geographically, the domestic booster pumps market is segmented into five major region including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is predicted to dominate majority revenue share by 2036, due to continuous growth in population and constant development in rural areas. Further, improvements in power generation and water infrastructure in the region is generating huge demand for domestic booster pumps. Additionally, economic growth in emerging economies in the region along with the increasing government funding for industrialization is fostering the growth of the market. The North America region is anticipated to foresee significant growth in the market on the back of rising urbanization, construction projects and increasing demand for domestic booster pumps.
On April 23, 2020: the temporary transformation of SEC Centre in Scotland into 1300 bed field hospital owing to the outbreak of COVID-19 pandemic has raised need for additional water boosting. Further, Grundfos received an order of three Hydro MPC-E booster sets to support the water demands.
Author Credits: Parul Atri
Copyright © 2024 Research Nester. All Rights Reserved
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