Demand For Canned Motor Pumps Has Dampened Significantly Due To Halted Operations In End Use Industries

During the historical period, the market for canned motor pumps generated an absolute potential worth US$728.9 million. However, practically everywhere there has been a disruption in the market for canned motor pumps due to the COVID-19 pandemic outbreak. This will likely lead to lag in the market for canned motor pumps around the world.

As the market recovers, Fact.MR forecasts that the canned motor pumps market will expand slowly and reach US$ 3.1 billion in value by the end of the forecast year (2020 - 2030).

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/connectus/sample?flag=S&rep_id=382?Ps

The market for canned motor pumps with reverse circulation was dominated by these devices. Due to their capability to treat extremely volatile fluids including LPG, LNG, Liquid Ammonia, and refrigerants, among others, these pumps are extensively employed in the oil & gas and industrial sectors.

More than one-third of the world's canned motor pump market is located in Asia Pacific excluding Japan (APEJ). Manufacturers of canned motor pumps should target the APEJ market because it has become a global industrial powerhouse.

Increased uptake is also being caused by the efficiency of canned motor pumps. For instance, APEJ dominates the chemical and industrial business with a roughly 45% market share.

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/connectus/sample?flag=RC&rep_id=382

Key Segments of the Canned Motor Pumps Market

Fact.MR's study on the canned motor pumps market offers information divided into two key segments-product, end-use and capacity across six regions. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

By Product :

• Standard Pumps
• High-Temperature Pumps
• Reverse Circulation Pumps
• Liquid Pumps
• Multistage Pumps
• Others

By End-Use :

• Chemical
• Water & wastewater
• Oil & gas
• Power
• Pharmaceutical
• Food & beverages
• Agricultural
• Other End-Use

By Capacity :

• Low
• Medium
• High

By Region :

• North America
• Latin America
• Europe
• Japan
• Asia Pacific Excluding Japan (APEJ)
• Middle East & Africa (MEA)

In the coming years, the market is anticipated to reach equilibrium as a result of the anticipated increase in the pharmaceutical sector brought on by the coronavirus pandemic. Fact. According to MR, the chemical end use segment is expected to grow at a CAGR of 2.2% over the course of the projected period.

Middle East & AfricaThe study further identifies major manufacturing trends, technologies that will be commercialized

• Key manufacturing trends in end-use industries;
• New technologies used in a variety of application areas
• Key manufacturing trends in end-use industries
• New technologies used in a variety of application areas; Major economic shocks, such as the recent COVID-19 pandemic
• Country markets that will emerge as hotbeds of opportunity;
• Regulatory frameworks that will shape the strategies of key players in key regions in the Canned Motor Pumps market
• Key technological trends and the likely rate of commercialization of novel technologies in key industries and allied industries

𝗚𝗲𝘁 𝗙𝘂𝗹𝗹 𝗔𝗰𝗰𝗲𝘀𝘀 𝗼𝗳 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗲 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/checkout/382

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This release was published on openPR.