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Domestic Pump Market Size, Leading Players, Regional Outlook and Growth Forecast to 2030

Domestic Pump Market Size, Leading Players, Regional Outlook and Growth Forecast to 2030

October 15
06:26 2021
Domestic Pump Market Size, Leading Players, Regional Outlook and Growth Forecast to 2030
The Asia-Pacific region held the largest share in the global domestic pump market in 2020. This is mainly attributed to the large population, along with an increase in the number of ongoing housing projects to accommodate them.

According to the United Nations Conference on Trade and Development (UNCTAD), nearly 55.7% of the global population resided in urban areas in 2019. The UNCTAD also estimates that in 2019, around 80.5% of people in developed countries and nearly 51.1% of the people in emerging economies resided in cities and townships. Furthermore, the United Nations Department of Economic and Social Affairs (UNDESA) forecasts that approximately 68% of the world’s population will live in urban localities by 2050. The surging city population will boost the adoption of domestic pumps owing to the large-scale construction of housing units.

Moreover, the depleting groundwater level on account of the mounting world population will help the domestic pump market progress at a CAGR of 2.8% during 2020–2030. The market revenue stood at $2,912.9 million in 2020, and it will reach $3,832.0 million by 2030. According to the United Nations Water 2021 report (UN-Water 2021), approximately 2.3 billion people reside in water-stressed countries. Of these, around 733 million live in highly and critically water-stressed countries.

Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/domestic-pump-market/report-sample

As the extraction of groundwater has become extremely difficult due to its depletion, housing units are increasingly adopting centrifugal pumps, compressor pumps, pressure booster pumps, submersible pumps, and self-priming pumps. Moreover, the burgeoning global population is creating a huge requirement for water. As groundwater is the primary source of drinking water and that for several other household applications, the deployment of domestic pumps will escalate in the forthcoming years. Other applications of these pumps are heating, wastewater, rainwater harvesting, hot water recirculation, and water pressure boosting.

In the coming years, centrifugal pumps will be deployed at the highest rate owing to their low costs, wide application base, and high efficiency while pumping low-viscosity fluids, such as water. At present, domestic pump manufacturers are focusing on the integration of artificial intelligence (AI) in their operational processes to improve service delivery. These pumps are being manufactured by Grundfos Holding A/S, KSB SE & Co. KGaA, Ebara Corporation, Xylem Inc., Wilo SE, and Sulzer Ltd.

At present, they are focusing on the integration of artificial intelligence (AI) in their operational processes to improve service delivery. Additionally, they can use the available data and knowledge to lower operational and product costs by leveraging AI algorithms and big data analytics. AI or machine learning (ML) is also being used to optimize capital expenditure (CAPEX). Additionally, the usage of AI can optimize pump runtime as AI-powered domestic pumps help in cost conservation by only using energy when necessary.

Browse report with detailed COVID-19 impact analysis on Global Domestic Pump Market Size and Growth Forecast to 2030

According to P&S Intelligence, Asia-Pacific (APAC) dominated the domestic pump market in the recent past due to its vast population and the large number of ongoing housing projects to accommodate them. The Association of Southeast Asian Nations+6 (ASEAN+6) Population Forecast estimates that the population of ASEAN members will reach around 717 million by 2030 and nearly 741 million by 2035. Moreover, the availability of electricity for operating domestic pumps will augment their usage in the region in the upcoming years.

Thus, the burgeoning world population and lowering groundwater levels will amplify the deployment of water pumps for residential purposes.

Domestic Pump Market Size Breakdown by Segments

By Type

  • Centrifugal Pump
    • By drive type
      • Electric
      • Others
  • Submersible Pump
    • By drive type
      • Electric
      • Others
    • By type
      • Submersible borewell pump
      • Submersible open-well pump
  • Compressor Pump
  • Self-Priming Pump
  • Pressure Booster Pump

By Application

  • Groundwater Intake
  • Wastewater
  • Water Pressure Boosting
  • Rainwater Harvesting
  • Hot Water Recirculation
  • Heating

By Region

  • North America Domestic Pump Market
    • By type
    • By application
    • By country – U.S. and Canada
  • Europe Domestic Pump Market
    • By type
    • By application
    • By country – Germany, France, U.K., Italy, Spain, and Rest of Europe
  • Asia-Pacific (APAC) Domestic Pump Market
    • By type
    • By application
    • By country – Japan, China, India, Australia, South Korea, and Rest of APAC
  • Latin America (LATAM) Domestic Pump Market
    • By type
    • By application
    • By country – Brazil, Mexico, and Rest of LATAM
  • Middle East and Africa (MEA) Domestic Pump Market
    • By type
    • By application
    • By country – Saudi Arabia, South Africa, and Rest of MEA

Market Segment Analysis of Countries

  • By type
  • By application

Browse Other Reports

Water Pump Market Report – Geographically, Asia-Pacific led the water pump market in the preceding years, due to the soaring disposable income of people and escalating industrialization in the region, especially in India and China. In this region, China adopted the highest number of water pumps due to the expanding energy, chemical, and oil and gas industries.

Centrifugal Water Pump Market Report – As per P&S Intelligence, the increasing demand for this precious resource will drive the centrifugal water pump market in the coming years. In such pumps, a rotating disc with blades (known as vanes), much like a turbine (but working opposite to it), pushes water forward. This, along with easy availability and cost-effectiveness, is why centrifugal variants are the most-popular type of domestic pumps in the world. 

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Website: https://www.psmarketresearch.com/market-analysis/domestic-pump-market

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