The North America Booster Pump Market would witness market growth of 4.3 % CAGR during the forecast period (2022-2028).
Increasing industrialization, followed by increased modernity and urbanization, creates a chance for manufacturers to produce new goods and sell them on the market. This opportunity is created as a result of the growing demand for effective pumping solutions.
In addition, the rising demand for effective pumping solutions has led to the transition from conventional pumps to intelligent pumps, which are simpler to operate and monitor than their predecessors. Booster pump systems are utilized in a variety of industries, including those dealing with water and wastewater, building automation, oil and gas, chemicals, and power generation. During the time period covered by this prediction, demand for booster pumps is projected to expand as a result of investments made in developing countries in areas such as building and construction, as well as infrastructure.
Many initiatives have been introduced to reclaim water from various sources and then treat it for the reusability of water for agriculture, irrigation, portable supplies, and groundwater replenishment. Thus, this support from the government will surge the growth of the booster pump market North American region.
The government of Canada, with first nation communities, is effectively working to provide clean drinking water as it is the basic right of all Canadian to access safe and clean drinking water. Many initiatives are under process in each society to resolve the remaining long-term drinking water advisory. The decision to remove the long-term drinking water advisory lies with the chief of the community and is based on the recommendation of the public health officer. The rising awareness of the water crisis and the increasing government’s work to overcome these problems will surge the utilization of booster pumps to access deep freshwater sources.
The US market dominated the North America Booster Pump Market by Country in 2021, achieving a market value of $656 Million by 2028. The Canada market is experiencing a CAGR of 6.3% during (2022 - 2028). Additionally, The Mexico market is poised to grow at a CAGR of 6% during (2022 - 2028).
Based on Type, the market is segmented into Multi Stage and Single Stage. Based on Sales Type, the market is segmented into Aftermarket and New Sales. Based on Application, the market is segmented into Industrial, Agriculture, Residential, Water & Wastewater and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Booster Pump Market is Estimated to reach $3.1 Billion by 2028, at a CAGR of 4.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Xylem, Inc., Pentair PLC, Franklin Electric Co., Inc., Witte Pumps & Technology GmbH (Dover Corporation), Alfred Karcher SE & Co. KG, Aquatec International, Inc., Dab Pumps S.p.A., Smith & Loveless, Inc., and Eddy Pump Corporation.
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