In 2023, the global market for Sealless Magnetic Drive Pumps Market is expected to be worth more than US$ 674.6 million. The global market is expected to grow at a 6.4% CAGR from 2023 to 2033. Total market revenue is expected to exceed US$ 1252.3 million by 2033.
The market is expanding due to rising demand for energy-efficient technologies and rapid industrialization. The increasing use of sealless magnetic drive pumps in industries such as chemical and pharmaceutical will drive the market forward.
The growing number of water treatment projects, particularly in emerging economies, will drive sales of sealless magnetic drive pumps. As the importance of recycling water grows globally, the magnetic drive pump market will expand as well.
Industries are required to invest heavily in new technologies by environmental agencies such as the Pollution Control Agency and the Environmental Protection Agency to limit pollution emissions. This in turn will continue to fuel demand for sealless magnetic drive pumps.
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Sealless magnetic drive pumps are widely used in industries such as pharmaceutical and chemical. This is due to their safe, reliable, and leak-proof features. As per Future Market Insights (FMI), the pharmaceuticals segment is estimated to hold more than one-fifth of the market value share.
Sealless magnetic drive pumps are used in the pharmaceutical industry for applications where precision and contamination control are critical. They are also suitable for pharmaceutical applications that require high accuracy and precision, such as dosing and metering.
Key Takeaways from Sealless Magnetic Drive Pump Market Study:
- The global sealless magnetic drive pump market will expand at a CAGR of 6.4% through 2033.
- By pump type, metallic pump segment is estimated to hold a dominant share of around 64.3% in 2023.
- By end use, the pharmaceutical segment will create an incremental opportunity of nearly US$ 127.3 million through 2033.
- Sealless magnetic drive pump demand in China is likely to increase at 5.1% CAGR through 2033.
- The United States sealless magnetic drive pump market value is forecast to reach US$ 208.5 million by 2033.
- Germany market will thrive at a CAGR of around 5.8% between 2023 to 2033.
‘The ever-expanding sectors such as pharmaceutical and chemicals are expected to drive the global sealless magnetic drive pump industry through 2033. To gain maximum profits, manufacturers would find it beneficial to focus on the production of sealless magnetic drive pumps that provide higher efficiency.’ says a Future Market Insights (FMI) analyst.
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Who is Winning?
The sealless magnetic drive pump industry is moderately consolidated with few global players acquiring around 70% to 80% of the market shares. Leading manufacturers are likely to invest in new technology developments and expand their distribution networks to maintain their market presence.
Few of the leading players in this industry include Ebara Corp, Iwaki Co. Ltd., Flowserve Corp, ITT Inc, Sulzer AG, DXP Enterprises among others.
Recent Developments:
- In August 2021, Flowserve revealed plans of widening their portfolio on offer for sealless pumps, by launching the new Durco Mark 3 ISO magnetic drive pump.
- In June 2021, IDEX announced the acquisition of Flow Management Devices LLC, a manufacturer of precision flow measurement and control solutions.
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Sealless Magnetic Drive Pump Market Segmentation
By Pump Type:
- Metallic Pump
- ATEX
By Flow Rate:
- Up to 80 m3/hr
- 81 to 200 m3/hr
- 201 to 500 m3/hr
- Above 501 m3/hr
By End Use:
- Chemical
- Petroleum Refineries
- Food and Beverages
- Pharmaceutical
- Biotech
By Region/Country:
- Switzerland
- Germany
- Austria
- Italy
- France
- Rest of Europe
- United States
- Mexico
- China
- Rest of Asia
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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