Rising awareness regarding energy saving technologies and improved online sales channel is boosting the market growth.
DUBAI, UAE / ACCESSWIRE / October 28, 2020 / Advancement in technology and urbanization is influencing the domestic booster pumps market. According to a new study by FMI, global domestic booster pumps market will grow at 6.9% through 2030, with rising focus on energy-efficiency driving investments.
"These pump are conveniently used to supply water to the lawns in residential sectors. Better investments in R&D activities to develop energy-efficient devices is likely to propel market growth in the future"
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Domestic Booster Pumps Market - Key Highlights
- Market is anticipated to reach US$ 4.64 billion by 2030
- East Asia remains the most lucrative segment and is poised to witness significant growth in the future too.
- Home and domestic booster pumps will find better usage due to increased applications as gardening sprinklers.
- Growth in e-commerce segment will create new opportunities for market players
Domestic Booster Pumps Market - Driving Factors
- Steady recovery in infrastructure activities is driving sales of domestic booster pumps
- Rising awareness on energy-efficiency, especially in developing countries, is driving growth
Domestic Booster Pumps Market - Key Restraints
- Blockage of pipelines due to mismanagement and lesser usage can cause severe problems, resulting in reduced demand.
- High installation costs of control units and sensors also hampers the market growth.
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Expected Impact on Market by Coronavirus Outbreak
The Covid-19 outbreak has posed severe challenges due to strict government regulations on production and supply. The pandemic has affected construction activities due to complete shutdown across the globe. 16.6% unemployment rate in the construction industry due to COVID, resulted in a terrible loss. Due to labour shortage, construction was at a halt for a very long time in USA. Whereas, Europe is expected to witness a 15-20% decline in revenue from construction industry due to shortage of raw materials, thereby, reducing adoption of pumps.
Competition Landscape
Some of the key players in the market are 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.
Manufacturers are channelling their effort and improving distributions throughout. Intense competition is driving the market in a very effective manner.
For instance, Franklin Electric Co. acquired 70% stock of Pluga Pumps to strengthen regional presence and enhance product portfolio.
In 2019, Grundfos collaborated with Siemens AG to deal with water shortage challenges and planned to save energy by focussing on water and wastewater applications.
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Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
5. Global Home & Domestic Booster Pumps Market Demand Analysis 2015-2019 and Forecast, 2020-2030
5.1. Historical Market Volume (Mn Units) Analysis, 2015-2019
5.2. Current and Future Market Volume (Units) Projections, 2020-2030
5.3. Y-o-Y Growth Trend Analysis
6. Global Home & Domestic Booster Pumps Market - Pricing Analysis
6.1. Pricing Break-up
6.2. Global Average Pricing Analysis Benchmark
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More on the Report
The report gives an insight into major macro-economic factors and a region-wise analysis of the market (East Asia, North America, Europe, India, China etc.). The report sheds light on the pre-dominant factors and key strategies adopted by the players across the globe. The report is segmented on the basis of pumps power, application (kitchen, bathroom, water heater units etc.) and sales channel (online, offline).
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
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Report: https://www.futuremarketinsights.com/reports/domestic-booster-pumps-market
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SOURCE: Future Market Insights
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