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.
