DUBLIN, May 18, 2022--(BUSINESS WIRE)--The "Global Magnetic Drive Pump Market, By Flow Rate, Material, Application & By Region - Forecast and Analysis 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global magnetic drive pump market was valued at USD 1,701.40 Million in 2021, and it is expected to reach a value of USD 2,250.23 Million by 2027, at a CAGR of more than 4.77% over the forecast period (2022 - 2027).
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 than ever, seal-less pumps allow for zero fugitive emissions, allowing them to meet the necessary compliances. Due to their simplicity, mag drive pumps save maintenance time replacing seals and dealing with hazardous leaks. With only two moving parts, there is little chance for failure.
Mag 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.
The magnetic drive pump market is moderately fragmented, due to many companies operating in the industry.
The report provides market sizing and forecast across five major regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). In this report, the year 2016 to 2020 is considered a historical year, 2021 is the base year, 2022 is the estimated year, and years from 2022 to 2027 are considered the forecast period.
Aspects covered in this report
Based on flow rate, this market is segmented into up to 100 m3/hr, from 101 to 250 m3/hr, 251 to 500 m3/hr, greater than 500 m3/hr.
Based on material, this market is segmented into polypropylene, stainless steel, and engineering plastics.
Based on application, this market is segmented into chemical, oil & gas, water treatment, food processing, pharmaceuticals, and others.
Based on region, this market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA).
The key players in this market include
Iwaki Co Ltd
Itt Goulds Pumps
Cp Pumpen Ag
Dandong Colossus Co Ltd
Kirloskar Brothers Limited
Magnatex Pumps Inc
Viking Pump Inc
For more information about this report visit https://www.researchandmarkets.com/r/60nk0f
View source version on businesswire.com: https://www.businesswire.com/news/home/20220518005932/en/
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