Magnetic Drive Pumps Market Analysis (COVID-19 Analysis) - Industry Insights, Drivers, Top Trends, Global Analysis, Forecast and Opportunities to 2028

According to our latest market study on "Magnetic Drive Pumps Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Flow Rate, Material, Application, Pump Type, and Geography," the market is expected to grow from US$ 933.25 million in 2021 and is projected to reach US$ 1,584.37 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.

The global magnetic drive pumps market is segmented into five major regions-North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. In 2020, Asia Pacific led the market with a substantial revenue share, followed by Europe and North America. For the last few years, the use of magnetic drive pumps has increased in the renewable energy sector. Biodiesel is a liquid fuel produced from renewable sources such as new and used vegetable oils and animal fats. Biodiesel is a cleaner-burning replacement for various petroleum-based fuels, which is the primary reason for the growing demand for biodiesel in multiple parts of the world. Magnetic drive pumps are designed and manufactured for optimum application in biodiesel production, and these pumps are highly recommended for chemical transfer and chemical recirculation. Thus, the growing demand for biodiesel production ultimately results in the increasing demand for magnetic drive pumps.

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Magnetic Drive Pumps Market - Company Profiles

Flowserve Corporation
Sulzer Ltd
KSB SE & Co. KGaA
Sundyne
Klaus Union
Dickow Pump Company
ITT Goulds Pumps
Finish Thompson Inc.
CDR Pumps
OPTIMEX
HERMETIC-Pumpen GmbH
CP Pumpen AG
IWAKI CO., LTD.

The latest research report on the "Magnetic Drive Pumps Market - Industry Analysis, Market Size, Opportunities and Forecast, 2021 - 2028" provides a comprehensive assessment of the Magnetic Drive Pumps market for the forecast period from 2021 to 2028. The investigative report provides a detailed analysis of the impact of COVID-19 on various segments in the Magnetic Drive Pumps market based on product type, application, and end-use across numerous countries around the world. Further, the report also provides insights into market developments, trends, supply and demand changes across various regions across the globe. Thereby, the report provides a holistic view on the Magnetic Drive Pumps Market in order to help decision makers with various strategic insights and future outlook. The Magnetic Drive Pumps market is expected to witness continued growth during the forecast period from 2021 to 2028.

This is a professional and in-depth study on the current state of the Magnetic Drive Pumps Market with a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Strategic Insights and Development plans are also discussed and manufacturing processes and cost structures analyzed. Magnetic Drive Pumps Market import/export consumption, supply and demand figures and cost price and production value gross margins are also provided.

Europe is witnessing significant investments in the oil & gas industry. The North Sea remains the primary source of Europe's oil & gas demand, while several projects are in the development phase in the region. Recent or ongoing projects include Johan Sverdrup Development in Norway, Rosebank & Lochnagar Oil & Gas Fields in the UK, Johan Castberg Field in Norway, and Aphrodite Gas Field in Cyprus. The oil & gas industry is one of the most prominent users of magnetic drive pumps, and oil refineries require various equipment to generate petroleum, oil, and gas products. Magnetic drive pumps are required to move corrosive liquids through various stages of the oil refining process. Rapid industrialization and growing demand for renewable energy and exploration operations positively influence the European magnetic drive pumps market. Further, the European Union (EU) has enacted strict legislation to restrict emissions and gas leakages in the mining, refining, oil & gas, power, and chemical industries. The shift from fossil-fuel power generation to gas-based power generation has been one of the most significant transformations in the European energy mix, which has considerably reduced energy generated from coal-powered plants in the past few years and promoted natural gas power generation. Increased operation of natural gas power plants for energy generation has lowered the CO2 emissions from the European power sector.

The global magnetic drive pumps market is segmented on the basis of flow rate, material, application, pump type, and geography. The market, based on flow rate, is segmented into upto 80 m3/hr, 81-200 m3/hr, 201-500 m3/hr, and above 500 m3/hr. On the basis of material, the market is categorized into polypropylene, polyvinylidene fluoride, stainless steel, nickel alloys, PFA, and ETFE. Based on application, the market is split into chemical processing, water treatment, surface treatment, food processing, oil & gas, and renewable energies. Based on pump type, the market is divided into side channel pumps, centrifugal pumps, and others.

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Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Magnetic Drive Pumps Market' provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

The report segments the global Magnetic Drive Pumps Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Magnetic Drive Pumps Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.

The report focuses on global major leading Magnetic Drive Pumps Market players providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out.

Key Elements that the report acknowledges:
• Growth rate and market size over the analysis timeframe.
• Key factors stimulating and hindering market expansion.
• Leading vendors and suppliers of the market.
• Exhaustive SWOT analysis of each company.
• Detailed PEST analysis by region.
• Opportunities and threats faced by the existing vendors in Magnetic Drive Pumps market.
• Strategic initiatives undertaken by leading players.

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Reasons to Buy
• Highlights key business priorities to assist companies realign their business strategies.
• Features key findings and crucial progressive industry trends in the global Magnetic Drive Pumps market, thereby allowing players to develop effective long-term strategies.
• Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
• Scrutinizes in-depth market trends as well as key market drivers and restraints.
• Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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