Pumps with booster impellers improve the flow and pressure of water by increasing the pressure. Pumps with booster impellers have an inlet, outlet, motor, and pressure monitoring device inside. Through the inlet pipe, water passes through an impeller and is further pushed through an outlet by the impeller. This plays a vital role in building water pressure and enabling the faucet or showerhead to deliver high-pressure water.
It is the fast-growing world population that is driving the growth of the global commercial booster pump market. Increasing population density all over the world, including hills, planes, and deserts, is increasing the demand for a constant supply of water.
As a result of the growing demand for energy-efficient water pumps, the global commercial booster pump market is expected to grow and develop significantly throughout the forecast period.
It is the poor water supply facilities provided by local municipal corporations that further drive the global commercial booster pump market. The surge in water extraction from a single source and the emergence of technology are integrating highly advanced solutions into the market.
The global market is expected to grow during the forecast period due to increased industrialization and urbanization. The rapid industrialization of the world has created a need for advanced and multipurpose water pumps that offer intelligent pumping solutions, which has also created lucrative growth opportunities for the key players to penetrate the market and generate huge revenues.
Global Commercial Booster Pumps Market Historical Analysis (2017 to 2022) Vs. Forecast Outlook (2023 to 2033)
The world population has substantially increased in recent years. Many countries have been experiencing a population boom which has led to a drastic surge in demand for potable water and usable water. This has led to an increase in demand for commercial water booster pumps across multiple industrial and domestic applications.
From 2018 to 2022, commercial booster pump sales rose at a CAGR of 4.4% and generated a revenue total of US$ 5,270 million in 2022. An increasing population has also created a surge in agricultural activities and driven commercial irrigation booster pumps.
Rising urbanization, increasing population, growing demand for agricultural activities, increasing industrialization, rising water consumption, and rapid technological advancements are some prime factors that influence the commercial booster pump market potential.
Technological advancements while propelling the market are also expected to act as a restraining factor as well that could hinder commercial booster pump shipments over the forecast period. From 2023 to 2033, demand for commercial booster pumps is anticipated to rise at a high CAGR of 7.6%.
Short Term (2023 to 2026): An increase in market share by improving product offerings, expanding distribution channels, and increasing advertising and promotional activities may drive the market during the projected period.
Medium Term (2026 to 2029): During the mid-term period, the commercial booster pump market is likely to vary. Companies may aim to gain new customers such as manufacturing complexes, multi-story buildings, and high-rise facilities.
Long Term (2029 to 2033): In the long run, companies may aim to drive innovation by investing in research and development to create new products or improve existing ones. This could involve developing new materials, exploring new manufacturing techniques, or incorporating emerging technologies like IoT, AI, or data analytics.
How are Sales of Commercial Booster Pumps Expected to Perform in the United States?
Increasing Demand from Smart Cities to Boost United States Market Potential
High technological proliferation is anticipated to influence demand for commercial water booster pumps in the United States. The increasing trend of the establishment of smart cities is expected to propel the demand for commercial water booster pumps. Commercial booster pump companies in this nation are broadly focusing on launching new commercial booster pumps for water.
For instance, in April 2021, the Progressive Water Treatment division of The Water Company for the New Economy announced that it had started shipping its new commercial booster pump systems and equipment line. The new product line is called BroncBoost and enables customers to control water flow rates and pressures in water distribution systems and networks.
Recent Development
Commercial booster pump vendors are focusing on expanding their product portfolio by launching new products and expanding their revenue potential.
In February 2022, Shakti Pumps, a leading pump and motor manufacturer in India, announced the launch of its new commercial submersible pumps. The new plug-and-play submersible pumps are designed for higher efficiency and low operational costs and are expected to see good demand from the agriculture sector.
To expand its commercial direct service network, Pentair Inc (a leading provider of water treatment and sustainable solutions) in April 2021, announced the acquisition of the assets of Ken's Beverages Inc.
Private equity firm AIP (American Industrial Partners) acquired Ingersoll Rand's stake in its HPS business in February 2021 for around US$ 300 million.
