USD 807.9 million
Magnetic Drive Pump Market Size, Share, Growth Analysis, By Flow Rate(Up To 100 m3/hr, From 101 To 250 m3/hr, 251 To 500 m3/hr, Greater Than 500 m3/hr), By Material(Polypropylene, Stainless Steel, Engineering Plastics), By Application(Chemical, Oil & Gas, Water Treatment, Food Processing), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2208 |
Region:
Global |
Published Date: July, 2001
Pages:
157
|Tables:
94
|Figures:
76
Magnetic Drive Pump Market Insights
Magnetic Drive Pump Market size was valued at USD 807.9 million in 2019 and is poised to grow from USD 850.72 million in 2023 to USD 1354.07 million by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).
Rising awareness about the need to reduce process-fluid leakage in the chemical industry is driving the growth of magnetic drive pump market. Magnetic Drive pumps are seal-less pumps that use the technology of a drive magnet and inner magnet connected to an impeller to move fluid through the pump. The drive magnet and inner magnet are separated by a rear casing or housing, creating a seal-less containment. A magnetic drive Pump will prevent the leakage of fluid and even more importantly save you from the loss of potentially dangerous and costly liquids.
With environmental concerns and EPA requirements more stringent, seal-less pumps allow for zero fugitive emissions, allowing them to meet the necessary compliances. Due to their simplicity, magnetic drive pumps save maintenance time replacing seals and dealing with hazardous leaks. With only two moving parts, there is little chance for failure. The magnetic drive pumps are the answer for reliability and zero emissions. Advances in pump technology have enabled engineers to reduce the size of magnetic drive pumps whilst increasing their power and efficiency. Rare earth alloy magnets with high field strength allow compact design. New pump bearing designs and a wide range of wetted material options have enhanced pump lifetime, lowered power losses due to eddy currents and reduced maintenance downtime. These factors are aid in magnetic drive pump market growth.
US Magnetic Drive Pump Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Up To 100 m3/hr
Fastest Growth
Up To 100 m3/hr
Growth Rate
5.3% CAGR
Global Magnetic Drive Pump Market ($ Mn)
Country Share for North America Region (%)
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Magnetic Drive Pump Market Segmental Analysis
The global magnetic drive pump market is segmented based on the flow rate, material, application, and region. Based on the flow rate, Magnetic Drive Pump Market is segmented into up to 100 m3/hr, from 101 to 250 m3/hr, 251 to 500 m3/hr, and greater than 500 m3/hr. Based on the material, Magnetic Drive Pump Market is segmented into polypropylene, stainless steel, and engineering plastics. Based on application, it is segmented into chemical, oil & gas, water treatment, food processing, pharmaceuticals, and others. Based on region Magnetic Drive Pump Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Magnetic Drive Pump Market Analysis by Flow Rate
The global magnetic drive pump market is segmented based on flow rate into up to 100 m3/hr, from 101 to 250 m3/hr, 251 to 500 m3/hr, and greater than 500 m3/hr. Among these segments, the up to 100 m3/hr segment dominated the market and is expected to register fastest growth over the forecast period. A pump of this type requires very little maintenance. The primary reason is that the design is actually quite simple. In fact, when used for normal operations it is common to see magnetic drive pumps go 10 years or longer before needing any kind of repair. Even then, repairs are often inexpensive. Moreover, Environmental concerns have driven pump manufacturers to adopt cleaner technologies. The absence of a seal, and the and the containment of pumped fluid completely within the confines of the pump housing will lead to an increase in demand for magnetic drive pumps.
Magnetic Drive Pump Market Analysis by Application
The global magnetic drive pump market is segmented based on application into chemical, oil & gas, water treatment, food processing, pharmaceuticals, and others. Chemical segment is anticipated to hold the largest share in the global magnetic drive pump market. The chemical industry has been one of the most important sectors in the recent years contributing significantly to the industrial development. It has its presence in an array of end uses such as in consumer goods, construction, mining, and other industrial end uses. In addition to this, there is an increase in demand for equipment and chemicals which are eco-friendly while also being efficient for the industrial application. The rise in the demand for magnetic drive pumps due to rising environmental awareness and maintenance and safety issues is increasing the demand for magnetic drive pumps in chemical, oil and gas and wastewater treatment market.
Global Magnetic Drive Pump Market ByFlow Rate
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Magnetic Drive Pump Market Regional Insights
The global magnetic drive pump market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is expected to account for the largest market. The regions domination can be attributed to rising awareness about the need to reduce process-fluid leakage in the chemical industry, oil and gas industry is increasing the sale of magnetic drive pumps. India & China are the fastest growing markets over the forecast period, this growth can be attributed due to increasing investments across various applications. The expanding manufacturing sector across the Globe coupled with rising inclination towards more reliable pumps across various industries such as chemical, oil & gas, water treatment, and pharmaceuticals are propelling the demand for magnetic drive pumps across Asia-Pacific, provides a lucrative opportunity for the magnetic drive pump manufacturers.
Global Magnetic Drive Pump Market By Region
- Largest
- Fastest
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Magnetic Drive Pump Market Dynamics
Magnetic Drive Pump Market Driver
Increased awareness of low risk of fluid and vapor emissions from being leaked
- The magnetic drive pumps have extremely low risk of leakage people working on or near the pump are not exposed to dangers from hazardous, corrosive, flammable and/or explosive fluids, and other toxic chemicals. In addition, expensive liquids are not wasted. Which in turn is driving the growth of magnetic drive pump market.
Eliminates the need for shaft sealing
- The magnetic drive pump eliminates the need for shaft sealing, which reduces the initial cost of the pump as well as day-to-day operational costs as there aren’t any mechanical seals, seal-fluid pots, or cooling lines fitted, the demand for magnetic drive pumps is increasing.
Magnetic Drive Pump Market Restraint
Rising Raw Material Price
- While rising raw material prices affect all types of pump manufacturers, magnetic drive pumps have an additional financial burden: the rare earth elements that make up the permanent magnets that power their drives. These materials are nearly entirely made in China, which drives dependence on China market for this product. Prices of Polypropylene (PP) prices moved up a total of 12cents/lb in June 2021. There is also ongoing pricing issue for PP for the rest of year due to which some processors reported lowering production rates to 75% to 80% of capacity, with increased backlogs.
Low margin owing to high cost of production
- Magnetic drive pumps include high production cost and with the increasing raw material prices, the margin obtained by vendor is low. Furthermore, stiff competition in domestic and international market reduces the margin.
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Magnetic Drive Pump Market Competitive Landscape
The magnetic drive pump market is fragmented due to many companies operating in the industry. Key players in this market. Given the fact that customers are moving towards leak free and better control pumps many companies are planning to enter this market. However, the capex cost involved to enter the market are high, but this is set off with a healthy growth rate. The key players in this market include Iwaki, Sundyne, Klaus Union, ITT Gould Pumps, Flow Serve, Xylem Inc, March Manufacturing and Kirloskar Brothers.
Magnetic Drive Pump Market Top Company Profiles
- ARO Fluid Management
- CP Pumpen AG
- Flowserve Corporation
- Fristam Pumps USA
- Goulds Pumps
- IDEX Corporation
- Ingersoll Rand Inc.
- ITT Inc.
- KSB SE & Co. KGaA
- March Manufacturing Inc.
- Nikkiso Co. Ltd.
- PSG Dover
- Richter Chemie-Technik GmbH
- Roper Technologies Inc.
- Serfilco Ltd.
- Sundyne LLC
- T-Mag Mag Drive Pumps
- Tapflo Group
- Teikoku Electric Mfg. Co. Ltd.
- Verder Liquids BV
Magnetic Drive Pump Market Recent Developments
- In July 2021, HMD Kontro has stepped up its ‘Think Sealless’ pumps campaign, with the introduction of a dedicated website section and additional learning resources to help build awareness of magnetic drive pumps and assist specifiers less familiar with the technology to determine the best fit for their fluid transfer requirements.
- In May 2021, Richter Chemie-Technik Germany, a global leader in PFA lined pump and valve solutions for more than 60 years, recently launched the QMD™ magnetic drive pump. The QMD series of magnetic drive pumps were designed to anticipate the fast-growing Asian market. The main objective was to serve the local chemical market with a competitive pump with the typical Richter signature of high quality.
- In April 2021, IWAKI introduced two new pumps MDM40-2 & MDM50-2. These pumps have a high efficiency compared to similar magnetically driven pumps. A new impeller design also reduces the risk of cavitation. With the introduction of these pumps, the MDM pumps cover a much wider area, where the larger MDE pumps were previously preferred.
Magnetic Drive Pump Key Market Trends
- The magnetic drive pumps are available in most metallurgies and materials, metallic and nonmetallic. With highly viscous liquids, friction losses can be high; in an abrasive or chemically aggressive medium, bearing wear can be a problem. However, with the right choice of wetted materials - including stainless steel, polypropylene, engineering plastic- magnet drive pumps are ideal for handling aggressive, corrosive and hazardous liquids.
- The mechanics involved in the magnetic drive pump production is far more advanced and the scarcity of qualified talent makes it highly challenging. The migration of technical talent from one industry to other lucrative industry makes it tough for the manufacturers. Most magnetic drive pump manufacturers are depending on outside consultants to fill this gap.
Magnetic Drive Pump Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global magnetic drive pump market analysis, the market is fragmented in nature with large, small and medium sized players across the globe. North America and Asia Pacific are leading the magnetic drive pump market. Huge downstream demand from China is driving the trade in magnetic drive pumps also, China is the country with the largest trading volume and the most potential development direction is the chemical and manufacturing industry. China is also a leader in pump purchases but represents a smaller market for replacements and repairs. Currently, China is developing its own magnetic drive pump manufacturing capabilities. On the other hand, North American players are leading the market owing to manufacturing and good R&D capabilities.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 807.9 million |
| Market size value in 2031 | USD 1354.07 million |
| Growth Rate | 5.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Magnetic Drive Pump Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Magnetic Drive Pump Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Magnetic Drive Pump Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Magnetic Drive Pump Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Magnetic Drive Pump Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Magnetic Drive Pump Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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