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COVID-19: Impact on Water Booster Pump Market Revenue Analyzed and Forecast Growth

According to a new market report published by Industry Probe (https://www.industryprobe.com) titled ‘Water Booster Pump Market (Product Type: Single Stage and Multiple Stage; Power Rating: 0-1.0 Hp, 1.1-5.0 Hp, 5.1-10.0 Hp, and Above 10.1 Hp; Application: Agriculture, Residential, Commercial, and Industrial [Manufacturing, Automotive, Water & Wastewater, Food & Beverages, and Others]; and Distribution Channel: Online [Company-owned Website and Third Party Website] and Offline [Retailers, and Wholesalers & Distributors]) – Global Industry Dynamics, Trends, and Forecast, 2020–2027,’ the global water booster pump market is expected to reach US$ 6 Bn by 2027 and expand at a CAGR of 6.5% from 2020 to 2027.

As per the study, the increasing number of water recycling and water waste treatment plants in advanced and developing countries is a major factor expected to drive the growth of the global water booster market. The global water booster pump market was valued at US$ 3,464.2 Mn in 2018 and is anticipated to extend at a CAGR of 6.5% from 2019 to 2027. Besides, rapid industrialization and technological progressions, such as intelligent pump system in the water pump industry are some other factors contributing to support growth of the global market to certain extent. Increase in water insufficiency and rise in population are envisioned to boost the global market for water booster pump shortly. Moreover, To maintain high productivity and stay competitive in the business, farmers are focusing on profitability, which includes energy optimization and better use of water reserves. Hence, the demand for water booster pump is increasing in the agriculture sector.
The global water booster pump market has been segmented based on product type, power rating, application, distribution channel, and region. Also, the water booster pump has a broad assortment of applications in the residential sector, commercial sector, agricultural sector, and in various industries. The ongoing trend for solar water booster pumps is fueling the demand for water booster pumps in the market. The current water boosters from the market work on electricity, which can be costly and not environment-friendly. Whereas, solar booster pumps could save energy and are completely eco-friendly. The global water booster pump market has further bifurcated based on product type, power rating, application, distribution channel, and region. Customer' choice for low-priced water pumps instead of reputed brands is a major factor expected to hamper the growth of the global market to a certain extent.

As per the study, The Middle East and Africa are anticipated to be an important upcoming market for water booster pumps during the calculated period. The Asia Pacific held a major share of the global water booster pump market in 2018 followed by North America and Europe. The dominance can be associated with a developing yoke on groundwater for irrigation and other agricultural purposes rather than monsoons in developing countries such as India and the presence of famous players operating in countries of this region. The market in Latin America is anticipated to observe reasonable growth, owing to the increasing construction of water recycling industries and the increasing presence of major manufacturers in developing countries such as Brazil and Argentina in this region. The rise in construction activities, rapid urbanization, and stringent government regulations are projected to drive the water booster pump market in the region.
The report includes the below mentioned pointers of major players operating in the Water Booster Pump Market:
• Competition Matrix
• Company Overview
• Market Share Analysis (2018)
• Product Innovation
• Business Strategies / Recent Developments
• Technological advancements
• Key mergers and acquisitions
• Expansion strategies
• Company Financials

The water booster pump market is fragmented due to the presence of several players. Competition is demanded to intensify shortly with the entry of several local players. Key companies profiled in the research report include Aquatec International, Inc., Dab Pumps Spa, KSB Pumps Limited, Franklin Electric Co., Inc., Grundfos, Xylem Inc., Kärcher International, SyncroFlo Inc., Wilo SE, and Pentair Plc.

Originally published on-
https://industryprobe.weebly.com/blog/global-water-booster-pump-market-to-reach-valuation-of-us-6-bn-by-2027-industry-probe

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