Sealless Pumps Market by Product (Canned Motor Radial, Magnetic Driven Gear, Canned Motor), End User (Chemical, F&B, Pharmaceutical, Oil and Gas), and Geography- Global Forecast to 2025
The global sealless pumps market is expected to grow at a CAGR of 6.7% from 2019 to reach $3.9 billion by 2025.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out the key industry drivers, challenges, opportunities and trends. The growth in sealless pumps market is mainly attributed to the advantages of magnetic driven pumps over conventional pumps, regulations on emissions, low cost of maintenance than other pumps, and increasing demand for canned motor pumps in chemical and wastewater treatment industry. Moreover, emergence of intelligent pump systems and micro disc pump technology, evolution of green technology, next generation industrial automation, and technological advancements are the major trends in this market. In addition, rising demand for magnetic driven pumps in Middle East North Africa (MENA), and widening application areas offer growth opportunities for the players operating in this market. However, corrosion resistance of the magnetic element themselves, and high cost and power absorption of the magnetic driven pumps are the major challenges present in the sealless pumps market.
The global sealless pumps market is primarily segmented by product (canned motor radial pump, magnetic driven gear pump, magnetic driven internal bearing screw pump, and canned motor side-channel pump), end-user (chemical, oil & gas, power generation, pharmaceutical, food & beverage, and others), and geography.
Based on product, the canned motor radial pump segment is estimated to account for the largest share of the overall sealless pumps market in 2019. The advantages of the radial pumps including smooth flow, self-priming, direct relationship between pump rotational speed and flow, and small size are primarily driving the adoption of these pumps in many countries across the globe.
On the basis of end user, the sealless pumps market for chemical industry is estimated to command the largest share of the overall market in 2019. Increasing demand for the chemicals for research, especially in emerging markets as well as from food industry is primarily driving the demand of sealless pumps in this end-use segment.
An in-depth analysis of the geographical scenario of the sealless pump market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region. Asia commanded the largest share of the global sealless pumps market, followed by Europe, and North America. Moreover, Asia region is expected to grow at the fastest CAGR during the forecast period. Growth in this market is expected to be driven by growing urbanization; rapid growth in industries such as chemicals, power and oil and gas; major investments in wastewater treatment; and initiatives to improve proper sanitation.
The key players operating in the global sealless pumps market are IDEX Corporation, Flowserve Corporation, KSB SE & Co. KGaA, IWAKI CO., LTD., Kirloskar Brothers Limited, Teikoku Electric Mfg. Co., Ltd., Nikkiso Co., Ltd., Klaus Union, HERMETIC-Pumpen GmbH, Sundyne, ITI Gould's Pumps, CP Pumpen AG, March Manufacturing Inc., OPTIMEX, and Dandong Colossus & Co. among others.
Scope of the Report:
Market by Product
Canned Motor Radial Pump
Single-stage Radial Pump
Multi-stage Radial Pump
Magnetic Driven Gear Pump
Magnetic Driven Internal Bearing Screw Pump
Canned Motor Side-channel Pump
Market by End User
Oil & Gas
Food & Beverage
Market by Geography
Rest of Europe (RoE)
Rest of Asia
Middle East & Africa
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