DUBLIN--(BUSINESS WIRE)--The "Global Magnetic Drive Pumps Market, By Flow Rate, By Material (Stainless Steel, PP & Others), By Application (Chemical Processing, Water Treatment & Others), By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global magnetic drive pumps market stood at $795.9 million in 2018 and is projected to grow at a CAGR of 5% to reach $1,064.9 million by 2024.
Magnetic drive pumps have advantages such as minimum leakage, high shelf life and specific usage in applications to avoid emission of poisonous gases which is expected to drive their demand globally. Magnetic drive pumps find application in processing of chemical fluids which are hazardous, corrosive and aggressive to handle.
Moreover, growing concerns regarding avoiding the leakage of chemical fluids and harm to workers involved in the production process is further anticipated to fuel the demand for magnetic drive pumps in the coming years. However, limitations such as limited solid handling capacity and the risk of dry running are some of the challenges for the market.
Segment Analysis
The market for magnetic drive pumps is segmented on the basis of flow rate, material, application and region.
Based on material, the market is categorized into Polypropylene (PP), Polyvinylidene fluoride (PVDF), Stainless Steel and Others. Of all, stainless steel is widely used in magnetic drive pumps due to its properties such as excellent corrosion resistance and high temperature resistance. Magnetic pumps made with stainless steel can withstand against hazardous fluids such as acids, corrosive solvents and brine water.
Based on application, the market is segmented into chemical processing, water treatment, surface treatment, food processing and others, of which chemical processing dominates the market as magnetic drive pumps are used for transportation of chemicals and its distribution.
Regionally, the market has been segmented as Asia-Pacific, North America, Europe, Middle East & Africa and South America. Among these regions, Asia-Pacific is the largest market for magnetic drive pumps. The expanding manufacturing sector coupled with rising inclination towards energy efficient pumps across various industries such as oil & gas, chemicals, food processing, etc., are propelling the demand for magnetic drive pumps across Asia-Pacific.
Competitive Landscape
Some of the key players operating in the global magnetic drive pumps market include, Iwaki Co Ltd, Sundyne LLC., Klaus Union, ITT Goulds Pumps Inc, Flowserve Corporation, Ebara Corporation, Xylem Inc, March Manufacturing, Ruhrpumpen Inc., Kirloskar Brothers Limited, among others.
Years Considered
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objective of the Study
- To analyze and forecast the global magnetic drive pumps market size.
- To forecast the global magnetic drive pumps market based on flow rate, material, application and regional distribution.
- To identify drivers and challenges for the global magnetic drive pumps market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global magnetic drive pumps market.
- To conduct pricing analysis for the magnetic drive pumps market.
- To identify and analyze the profile of leading players involved in the manufacturing of magnetic drive pumps.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors Considered while Selecting Supplier
4.2. Product Awareness and Applicability & Usage Analysis
4.3. Challenges/Issues Faced Post Purchase
4.4. Unmet Needs
5. Global Magnetic Drive Pumps Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Flow Rate (in m3/hr) (Up to 80, 81-200, 201-500, and above 500)
5.2.2. By Material (Stainless Steel, Polypropylene, PVDF, and Others)
5.2.3. By Application (Chemical Processing, Water Treatment, Surface Treatment, Food Processing, And Others)
5.2.4. By Region
5.2.5. By Company (2018)
5.3. Market Attractiveness Index, By Flow Rate
5.4. Market Attractiveness Index, By Material
5.5. Market Attractiveness Index, By Application
5.6. Market Attractiveness Index, By Region
6. Asia-Pacific Magnetic Drive Pumps Market Outlook
6.1. Market Size & Forecast
6.2. Market Share & Forecast
6.3. China Magnetic Drive Pumps Market Outlook
6.4. Japan Magnetic Drive Pumps Market Outlook
6.5. India Magnetic Drive Pumps Market Outlook
6.6. Australia Magnetic Drive Pumps Market Outlook
6.7. South Korea Magnetic Drive Pumps Market Outlook
6.8. Thailand Magnetic Drive Pumps Market Outlook
7. North America Magnetic Drive Pumps Market Outlook
7.2. Market Share & Forecast
7.3. United States Magnetic Drive Pumps Market Outlook
7.4. Canada Magnetic Drive Pumps Market Outlook
7.5. Mexico Magnetic Drive Pumps Market Outlook
8. Europe Magnetic Drive Pumps Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
8.3. Germany Magnetic Drive Pumps Market Outlook
8.4. Russia Magnetic Drive Pumps Market Outlook
8.5. United Kingdom Magnetic Drive Pumps Market Outlook
8.6. Italy Magnetic Drive Pumps Market Outlook
8.7. France Magnetic Drive Pumps Market Outlook
9. Middle East & Africa (MEA) Magnetic Drive Pumps Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
9.3. Saudi Arabia Magnetic Drive Pumps Market Outlook
9.4. UAE Magnetic Drive Pumps Market Outlook
9.5. Iran Magnetic Drive Pumps Market Outlook
9.6. South Africa Magnetic Drive Pumps Market Outlook
10. South America Magnetic Drive Pumps Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
10.3. Brazil Magnetic Drive Pumps Market Outlook
10.4. Argentina Magnetic Drive Pumps Market Outlook
10.5. Colombia Magnetic Drive Pumps Market Outlook
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Competitive Landscape
13.1. Competitive Outlook
13.1.1. Company Profiles
13.1.2. Iwaki Co. Ltd.
13.1.3. Sundyne LLC
13.1.4. Klaus Union
13.1.5. ITT Goulds Pumps Inc
13.1.6. Flowserve Corporation
13.1.7. Ebara Corporation
13.1.8. Ruhrpumpen Group
13.1.9. Xylem Inc.
13.1.10. March Manufacturing Inc
13.1.11. Kirloskar Brothers Limited
14. Strategic Recommendations
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