Registering a year-on-year (Y-o-Y) growth of 5.3%, the global sealless magnetic drive pump market size reached around USD 637.7 million in 2022. Over the next ten years, global sealless magnetic drive pump sales are likely to soar at 6.4% CAGR.
Total market size will nearly double over the next ten years. It is likely to expand from USD 674.6 million in 2023 to USD 1252.3 million by 2033.
Expansion of petroleum refineries and chemical industries are forecast to drive demand for sealless magnetic drive pumps. This technology can help optimize energy usage and reduce waste, leading to cost savings for businesses.
Key Factors Shaping the Market
A magnetic drive centrifugal pump operates similarly to a standard centrifugal pump, but without the motor shaft seal, which prevents leaks brought on by shaft seal failure. Magnetic drive centrifugal pumps must be used in flooded suction situations.
Sealless mag drive pumps are considered safe and the most robust equipment for chemical transfer. These sealless pumps are increasingly replacing conventional sealed pumps in a wide range of industries. This includes pharmaceutical, petrochemical, food & beverage, etc.
Sealless mag drive pumps, also referred to as magnetic coupled pumps are used in applications with liquids that are difficult to seal or where leaks cannot be tolerated or
Key benefits or features of sealless magnetic drive pumps that are making them popular
In a variety of industries, including mining, food processing, water treatment, and others, sealless magnetic drive pumps are widely used to transfer fluids from bulk tanks to day tanks. These pumps are generally employed for chemical transfer, tank unloading, and heat transfer fluid applications.
Adoption of sealless magnetic drive pumps helps end users improve productivity, enhance safety, save money, and prevent fugitive emissions.
Zero leakage and total control of fugitive emissions make sealless mag drive pumps eco-friendly and a clear option for handling or transferring volatile and hazardous chemicals.
The global sealless magnetic drive pump market is anticipated to witness healthy growth amid increase in mining and manufacturing operations. Growing awareness about the safe, reliable, and energy-efficient nature of sealless magnetic drive pumps will fuel their sales.
Increasing application in water treatment processes is likely to bolster sealless magnetic drive pump sales. The need for magnetic drive pumps will rise as the value of recycling water is recognised globally.
Key sealless mag drive pump manufacturers are constantly launching new products with improved functionality. They are focusing on developing sealless magnetic drive pumps that can handle high pressures, high temperatures, and volatile, corrosive, and aggressive substances in several applications.
Development of novel products can break new territory in fluid handling technology and will create lucrative revenue-generation opportunities for manufacturers.
| Attribute | Key Insights |
|---|---|
| Sealless Magnetic Drive Pump Market Base Value (2022A) | USD 637.7 million |
| Estimated Sealless Magnetic Drive Pump Market Size (2023E) | USD 674.6 million |
| Projected Sealless Magnetic Drive Pump Market Size (2033F) | USD 1252.3 million |
| Value-based CAGR (2023 to 2033) | 6.4% |
| Collective Value Share: Top 3 Countries (2023E) | 50 to 55% |
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From 2018 to 2022, global sales of sealless magnetic drive pumps grew at a CAGR of 4%. The market suffered during the global lockdown, resulting in huge reduction in energy consumption from both commercial as well as industrial sectors. The supply chain and production facilities of sealless magnetic drive pump manufacturing companies were also impacted.
According to Future Market Insights (FMI), the global sealless magnetic drive pump industry is expected to witness a value CAGR of 6.4% during the forecast period. Rising demand for sealless magnetic drive pumps from various sectors will drive the global market forward.
Use of green technologies is crucial for lowering carbon emissions. Since magnetic drive pumps produce no emissions at all, demand for these pumps is rising as regulations governing industrial emissions tighten.
The expanding financial sector, easy access to corporate finance, and economical interest rates are encouraging the construction of new water treatment, chemical processing, and food processing plants. As a result, there is a growing demand for magnetic drive pumps.
In the food industry, sealless magnetic drive pumps are utilized to transfer both liquids and solids. They also used to agitate, mix, and blend food products. The pump facilitates the spill-free, efficient transfer of product from one container to another.
Sealless magnetic drive pump resists corrosion and has a wide range of uses in crucial industries. This includes the pharmaceutical industry which requires high-purity fluids and requires strict hygiene regulations.
Magnetic drive pumps are used to transfer fluids such as medicines, creams, and lotions to maintain the purity and hygiene of the process. Hence, growing usage in pharmaceutical sector will bolster sealless magnetic drive pump sales.
Over the projected period, rising energy costs and an increase in users' environmental consciousness are anticipated to fuel demand for energy-efficient and economically viable centrifugal pumps.
Two of the main problems faced by end-use industries that depend on centrifugal pumps are increasing pump efficiency and lowering energy consumption and cost.
As per the International Energy Agency research, electric motors consume 46% of the electricity generated in the world. Centrifugal pumps consume between 25% to 60% of a plant's electrical motor energy.
Centrifugal pumps reduce annual energy costs, creating a positive impact on the environment. An estimated 15% of the world's energy usage is attributed to pump motors. By 2020, stronger energy efficiency rules are anticipated to apply to over 40% of centrifugal pumps, which is predicted to result in a significant decrease in this number.
Manufacturers are also making efforts to increase functionality and efficiency. To enable remote monitoring of facilities, including pumps of all kinds, detect equipment failure, and prevent real-time downtime.
Flowserve Corporation, a large global provider of flow control products and services, recently introduced an IoT service suite. The company will be able to maintain its position in the pump market with the help of the product launch.
Principal Consultant
Rising Adoption of Sealess Mag Drive Pumps in Thriving Chemical Industry to Fuel sales in China
China market is expected to progress at a CAGR of 5.1% during the projection period. Currently, China holds around 1/6th share of the global sealless magnetic drive pump industry.
Growth in China market is driven by the increasing demand for energy-efficient and environmentally friendly pumps in various industries. This includes chemical, pharmaceutical, food and beverage, and water treatment.
Sealless magnetic drive pumps utilize magnetic coupling to transfer the power from the motor to the impeller. This eliminates the need for a mechanical seal. Their design helps to prevent leaks and reduce maintenance costs, making them suitable for handling corrosive or hazardous fluids.
Growing need for energy efficiency, increasing concerns about environmental pollution, and growth of various industries will elevate sealless magnetic drive pump demand in China
The Chinese government's focus on energy conservation and environmental protection is also contributing to the growth of this market.
Development of innovative and efficient sealless magnetic drive pumps by domestic manufacturers is another factor supporting market expansion in China.
Favorable Government Support to Boost Germany Sealless Magnetic Drive Pump Industry
Germany sealless magnetic drive pump market is anticipated to expand at a CAGR of 5.8% over the forecast period. Sales in the country are projected to increase at a healthy pace throughout the projection period.
The outlook for sealless magnetic drive pump manufacturers in Germany is positive. This is due to surging demand for energy-efficient and environmentally friendly pumps in various industries.
The German government's focus on energy efficiency and environmental sustainability is also driving the demand for sealless magnetic drive pumps in the country.
The government has set ambitious targets for reducing greenhouse gas emissions and increasing the share of renewable energy sources in the country's energy mix. This is expected to further drive demand for energy-efficient pumps.
Overall, the outlook for sealless magnetic drive pump manufacturers in Germany will remain positive. Companies that invest in innovation, energy efficiency, and sustainability are likely to benefit from the growing demand for these pumps in various industries.
Growing Usage of Energy-efficient Technology Driving Sealless Magnetic Drive Pump Demand in the United States
The demand for sealless magnetic drive pumps is increasing in the United States due to several factors. This includes the need for energy efficiency, increasing concerns about environmental pollution, and growth of various industries.
In the United States, several industries such as chemical, pharmaceutical, food and beverage, and water treatment are increasingly adopting sealless magnetic drive pumps to meet their energy efficiency and environmental sustainability goals.
The United States government is also promoting the use of energy-efficient technologies, including pumps, through various initiatives and regulations. This will power up sealless magnetic drive pump sales during the projection period.
The shale gas boom in the United States has led to the growth of the oil & gas industry, which is a significant user of sealless magnetic drive pumps. These pumps are used in various applications such as fracking, crude oil transportation, and refinery processes, where safety and reliability are crucial.
Overall, the increasing demand for energy-efficient and environmentally friendly pumps in the United States will boost the sealless magnetic drive pump industry. By the end of 2033, the United States market revenues will total USD 208.5 million.
Metallic Sealless Magnetic Drive Pump Remains the Most Sought-after Pump Type
By pump type, the metallic pump segment is expected to account for more than half of the market value share during the forecast period. The same segment will likely create an absolute opportunity of USD 936.2 million through 2033.
Growth of the target segment is driven by rising usage of metallic sealless magnetic drive pumps across several industries.
On the other hand, ATEX pumps segment is expected to grow at a value CAGR of 6.2% during the projection period.
Pharmaceutical Sector to Create Lucrative Growth Prospects
As per Future Market Insights (FMI), pharmaceutical segment is projected to hold more than one-fifth of the market value share during the forecast period. It is likely to create an absolute opportunity of USD 289.3 million between 2023 and 2033.
Rising adoption of sealless magnetic drive pumps in the pharmaceutical sector due to their exceptional properties is driving growth in the target segment. Chemical segment on the other hand is forecast to progress at a value CAGR of 5.8%.
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Leading sealless magnetic drive pump manufacturers are investing significantly to expand their production capacities and grab growth opportunities. They are also expanding their reach to enhance their sales and service for their customers through a strong distribution network.
Key manufacturers are concentrating on adopting alternative distribution channels, such as online, to solidify their market presence.
Companies are making significant investments in research & development to introduce new products and enhance their presence across the globe. Partnerships, acquisitions, mergers, collaborations, and facility expansions are other key strategies adopted by manufacturers. For instance
| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 674.6 million |
| Projected Market Value (2033) | USD 1252.3 million |
| Anticipated Growth Rate (2033) | 6.4% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered | Switzerland; Germany; Austria; Italy; France; Rest of Europe; United States; Mexico; China and Rest of Asia. |
| Key Countries Covered | United States, Canada, Mexico, Brazil, Argentina, Germany, Italy, France, United Kingdom, Spain, BENELUX, NORDICS, Poland, Hungary, Romania, Czech Republic, China, Japan, South Korea, India, ASEAN, Australia and New Zealand. |
| Key Segments Covered | Pump Type, Flow Rate, End Use, and Region |
| Key Companies Profiled | EBARA Corporation; Xylem Inc; Flowserve Corporation; Kirloskar Brothers Limited; ITT Goulds Pumps Inc.; Iwaki Co. Ltd; Grundfos Pumps Corporation; Teikoku Electric Mfg. Co. Ltd.; Ruhrpumpen group; Sundyne LLC; Klaus Union; GCA Energy; Magnatex Pumps Inc.; KSB SE and Co.KGaA; Sulzer AG; Wilo SE; PSG (Dover Corporation); Dickow Pumpen GmbH and Co. KG; |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global market is estimated to accrue around USD 637.7 million revenue in 2023.
The United States leads with a forecasted value of USD 208.5 million by 2033.
The regional market in China is poised to exhibit 5.1% CAGR through 2033.
The overall market witnessed a growth rate of 4% from 2018 to 2022.
Higher energy requirement for running such pumps might limit its popularity.
1. Executive Summary | Sealless Magnetic Drive Pump Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Market - Pricing Analysis 7. Market Demand (in Value or Size in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Market Background 9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Pump Type 9.1. Metallic Pump 9.2. ATEX Pump 10. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 10.1. Petrochemical refineries 10.2. Chemical 10.3. Food & Beverage 10.4. Pharmaceutical 10.5. Biotech 11. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Flow Rate 11.1. Up to 80 m³/hr 11.2. 81 to 200 m³/hr 11.3. 201 to 500 m³/hr 11.4. Above 501 m³/hr 12. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region/Country 12.1. Switzerland 12.2. Germany 12.3. Austria 12.4. France 12.5. Italy 12.6. Rest of Europe 12.7. United States 12.8. Mexico 12.9. China 12.10. Rest of Asia 13. USA Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Mexico Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Rest of America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Switzerland Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Germany Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Austria Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. France Market Analysis 2018 to 2022 and Forecast 2023 to 2033 20. Italy Market Analysis 2018 to 2022 and Forecast 2023 to 2033 21. Rest of Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 22. China Market Analysis 2018 to 2022 and Forecast 2023 to 2033 23. Rest of Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 24. Market Structure Analysis 25. Competition Analysis 25.1. Ebara Corp 25.2. Flowserve Corp 25.3. Grundfos 25.4. ITT Inc 25.5. Klaus Union 25.6. KSB SE & Co. KGaA 25.7. Sulzer AG 25.8. Wilo SE 25.9. Xylem Inc. 25.10. Kirloskar Brothers Limited 25.11. Iwaki Co. Ltd. 25.12. Grundfos Pumps Corporation 25.13. Teikoku Electric Mfg. Co. Ltd. 25.14. Ruhrpumpen Group 25.15. PSG 26. Assumptions and Acronyms Used 27. Research Methodology
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Sealless Magnetic Drive Pump Market
