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

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.