Magnetic Drive Pumps Market Scope
The increasing requirement for environmental protection & safety from the pipeline industry will help to boost the global Magnetic Drive Pumps market in the forecasted period. Magnetic drive pumps are designed to be driven by the force of magnets. A magnetic drive pump uses a balanced magnetic field to create the rotation of the fluid impeller. Unlike a traditional centrifugal pump which has a direct drive connection between impeller and motor, a mag-drive pump eliminates the direct drive mechanism and replaces it with a magnetic field.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Sundyne (United States), Klaus Union (United States), Goulds Pumps (ITT) (United States), March Manufacturing Inc. (United States), Flowserve Corporation (United States), Richter Chemie-Technik GmbH (Germany), CP Pumpen AG (Switzerland), Dandong Colossus Group Co Ltd (China), Dickow Pumpen GmbH & Co. KG (Germany) and Micropump Inc. (United States) |
CAGR | % |
The Manufacturers having a strong hold in the market are Sundyne, Klaus Union, Goulds Pumps (ITT), March Manufacturing and Flowserve Corporation. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Magnetic Drive Pumps market throughout the predicted period.
Sundyne (United States), Klaus Union (United States), Goulds Pumps (ITT) (United States), March Manufacturing Inc. (United States), Flowserve Corporation (United States), Richter Chemie-Technik GmbH (Germany), CP Pumpen AG (Switzerland), Dandong Colossus Group Co Ltd (China), Dickow Pumpen GmbH & Co. KG (Germany) and Micropump Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Verder Company (Netherlands), Taicang Magnetic Pump Co. Ltd. (China), DESMI (Denmark), HERMETIC-Pumpen GmbH (Germany) and Jiangsu Tengyu Machinery Manufacture Co.Ltd (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Magnetic Drive Pumps market by Type , by Application (Chemical Processing, Water Treatment and Others) and Region with country level break-up.
On the basis of geography, the market of Magnetic Drive Pumps has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In May , 2019, ITT Inc. has completed the acquisition of Rheinhütte Pumpen Group from Aliaxis Group S.A. The acquisition has encourages the organization in focused growth strategies, it has also provided the company’s Industrial Process (IP) segment with a complementary portfolio of pump technologies suited to corrosive, abrasive and high-temperature environments. The acquisition also bolsters IP’s presence in Europe through enhanced pump engineering, manufacturing, testing and channel to market capabilities.
In June , 2018, one of the global manufacturer and designer of pumps and compressors " Sundyne" has enhanced the ANSIMAG line pumps that are designed to meet and exceed all ASME/ANSI B73.3 and ISO 2858 chemical process pump standards. Since 1985, more than 50,000 ANSIMAG sealless, non-metallic magnetic drive pumps have been deployed to successfully handle harsh and corrosive chemicals used in a variety of industries.
Influencing Trend:
Upsurging Need for Environmental Protection & Safety from Pipeline Industry and Rising Demand for Pump Failure Prevention and Detection Sensors
Market Growth Drivers:
Use of Magnetic Pumps Involves Comparatively Low Risk of Vapour and Fluid Emission and Comparatively More Reliable than the Magnetic Pumps
Challenges:
Higher Initial Costs might Stagnate the Demand for the Magnetic Pumps
Restraints:
Lack of Working Ability Even in case of Small Percentage of Solid Fluids and Requires Higher Power Absorption than Conventional Pumps
Opportunities:
Minimal Post Purchase Maintenance and Repair Cost and Nullifies the Need for an Alignment of the Pump or Motor
Key Target Audience
Magnetic Drive Pumps Manufacturers, Magnetic Drive Pumps Distributors and Traders, International Traders, Research and Development Insitutes, Pol and Gas Industry Associations, Government Agencies, Upstream and Downstream Buyers and Others