According to a new report, published by KBV research, The Global Booster Pump Market size is expected to reach $3.1 billion by 2028, rising at a market growth of 4.9% CAGR during the forecast period.
The Single Stage market is estimated to grow at a CAGR of 5.8% during (2022 - 2028). The single-stage pump is the easiest moving part in a hydropower plant. It only has one moving part, the impeller, which moves water up and down through the pipes. It is also called a positive displacement pump because each time it works, it moves the same amount of fluid as before.
The Industrial market acquired the maximum revenue the Global Booster Pump Market by Application in 2021, achieving a market value of $1.1 billion by 2028. Increasing investments in building and construction, as well as water shortages and low-pressure water pipelines and networks, have resulted in a growing need to increase water pressure in various sectors, including industries, public buildings, and hospitals, and are expected to continue to drive sales growth of this segment over the forecast period.
The Aftermarket segment is growing at a CAGR of 4.2% during the forecast period. Sometimes the original manufacturer of the booster pumps deal with the policy issues within the company and enforced to stop the production. In this case, the need for a well-developed and reliable alternative supplier for the pumps and pump parts arises. Also, the high cost of new booster pumps and the unaffordability among users are propelling the growth in this segment.
The Asia Pacific market is leading the Global Booster Pump Market by Region in 2021, achieving a market value of $1.2 billion by 2028. The Europe market would showcase a CAGR of 4.6% during (2022 - 2028). Additionally, The North America market is poised to grow at a CAGR of 4.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/booster-pump-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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