19-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Magnetic Drive Pump Market Type (Pump Power<5KW, 5KW=Pump Power<30KW, and Pump Power=30KW), By Industry (Chemical Industry, Petroleum Industry, Pharmaceutical Industry, Food Industry, and Others (Aerospace & Defense, Automotive, Machine Tool, Mining, etc.)), and By Sales Channel (Direct Sales, Distributors): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Magnetic Drive Pump market in 2019 was approximately USD 650.00 Million. The market is expected to grow at a CAGR of around 3.0% and is anticipated to reach around USD 800.00 Million by 2026.
Magnetic drive pumps are pump which works by the force of magnetism instead of a motor. Magnetic drive pumps don’t have the mechanical shaft seal which conventional pumps have. These pumps are completely leak-proof. This is the only pump that uses a magnetic force for its operation. These pumps are molded into the category of centrifugal pumps. Its motor consists of a cylindrical shell that contains the outer magnet. There is a thin-walled between the outer magnets and inner magnets located inside the can. The inner magnets are attached to the impeller of a centrifugal pump.
The magnetic flux passes to the inner magnets from the outer rotating magnets, making the impeller spin without a direct connection to the motor. This makes the magnetic drive pump a sealless pump. Such pumps do not require a lot of maintenance. Such arrangements make the pump leak-proof and eliminate the need for a costly barrier fluid system required for mechanical seals. The magnetic materials used in the pump are neodymium iron boride and samarium cobalt. These magnets allow the transfer of torques to the rotor, as large as 200 horsepower which makes it applicable in various industries.
Browse the full “Magnetic Drive Pump Market Type (Pump Power<5KW, 5KW=Pump Power<30KW, and Pump Power=30KW), By Industry (Chemical Industry, Petroleum Industry, Pharmaceutical Industry, Food Industry, and Others (Aerospace & Defense, Automotive, Machine Tool, Mining, etc.)), and By Sales Channel (Direct Sales, Distributors): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/magnetic-drive-pump-market-type-pump-power5kw-5kwpump-817
Magnetic drive pumps have advantages like the least leakage, high life span, and specific usage in applications to avoid the discharge of toxic gases are some of the key factors in the increasing importance of magnetic drive pumps through several industrial sectors. Rising concern about avoiding the leak of chemical liquids and harm to the personnel involved in the manufacturing process is one of the key factors fueling the growth of the global magnetic drive pump market. The global magnetic drive pump market is anticipated to grow owing to the in-demand an extensive focus on research and development by key players.
Rising magnetic drive pump projects & consumer preference for magnetic drive pumps are anticipated to witness significant growth in the global magnetic drive pump market within the forecast period. Magnetic drive pumps’ inadequate solid treatment capacity as well as requiring greater power capacity than traditional pumps may hamper the market’s growth. Research and development, innovation activities in the technology of the magnetic drive pump, and increased investment by magnetic pumps companies in new advanced technology are anticipated to open new avenues for the magnetic drive pump market in the near future.
On the basis of type, the global magnetic drive pump market is segmented as Pump Power<5KW, 5KW≤Pump Power<30KW, and Pump Power≥30KW. Among which 5KW≤Pump Power<30KW segment accounted for the major revenue share in the global magnetic drive pump market in 2019. 5KW≤Pump Power<30KW magnetic drive pump delivers maximum value to customers. The innovation in the 5KW≤Pump Power<30KW magnetic drive pump in past years is anticipated to positively influence segment growth.
In 2019, the 5KW≤Pump Power<30KW magnetic drive pump segment accounted for around 40.0% of the global Magnetic Drive Pump industries.
On the basis of industry, the global magnetic drive pump market is categorized into the chemical industry, petroleum industry, pharmaceutical industry, food industry, and others (aerospace & defense, automotive, machine tool, mining, etc.). Among the above-mentioned segment, the petroleum industry segment accounted for around 25.0% of revenue share in 2019. Magnetic drive pumps are highly reliable in high temperature, high viscosity, high pressure, and hazardous applications. The food & beverage industry uses magnetic drive pumps for handling raw essences to the production of spirits and wines. The growth in the petroleum, pharmaceutical, and food industries in the past few years has increased the demand for magnetic drive pumps.
On the basis of the sales channel, the global magnetic drive pump market is categorized into direct sales and distributors. Among these, the distributor's segment accounted for more than 50.0% of revenue share in 2019.
On the basis of region the magnetic drive pump market is segmented into, Asia Pacific, Europe, Middle East & Africa, North America, and Latin America. In 2019, the European region dominates the magnetic drive pump market among all the regions followed by the Asia Pacific in terms of value.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 650.00 Million |
Projected Market Size in 2026 |
USD 800.00 Million |
CAGR Growth Rate |
3% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
IWAKI, ITT Goulds Pumps, Klaus Union, Flowserve, March Manufacturing, Verder, DickowPumpen, DESMI, and HERMETIC-Pumpen, and Others |
Key Segment |
By Type, Application, Sales, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the key players operating in the market include
IWAKI, ITT Goulds Pumps, Klaus Union, Flowserve, March Manufacturing, Verder, DickowPumpen, DESMI, and HERMETIC-Pumpen, among others.
This report segments the global magnetic drive pump market as follows:
By Type Analysis
- Pump Power<5KW
- 5KW≤Pump Power<30KW
- Pump Power≥30KW
By Application Analysis
- Chemical Industry
- Petroleum Industry
- Pharmaceutical Industry
- Food Industry
- Others (Aerospace & Defense, Automotive, Machine Tool, Mining, etc.)
By Sales Channel Analysis
- Direct Sales
- Distributors
By Regional Analysis
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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