Magnetic Drive Pumps Market Demand Supply Growth Factors Latest Rising Trend and Forecast to 2028

The "Magnetic Drive Pumps Market" is expected to reach US$ 1,584.37 million by 2028 from US$ 933.25 million in 2021; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.

The adoption of green technology is receiving greater attention as efforts are made to reduce emissions. In this regard, magnetic drive pumps are increasingly popular due to their emission-free operation, especially with stricter emission regulations for industrial processes. Moreover, the financial sector's growth, combined with easy access to business loans and lower interest rates, is driving the establishment of new water processing, chemical processing, and food processing plants, further boosting the demand for magnetic drive pumps in these industries. However, different countries' unique regulations, policies, norms, and rules may create trade barriers, potentially acting as a limiting factor in this market.

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Companies Profiled in this report includes:

• 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 overall market has been segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa, and South and Central America. The APAC market for magnetic drive pumps is expanding rapidly, driven by the increasing scale of industrialization. Nations such as China, South Korea, and Thailand have recently uncovered new oil and gas reserves, and China and India boast a considerable number of chemical industries. This has led to a surge in demand for magnetic drive pumps, which are commonly used in these industries. The strong growth of the magnetic drive pumps market in the APAC region can also be attributed to the significant presence of market players in the area. Some of the key players in the APAC magnetic drive pumps market include Kirloskar Brothers Limited (India); TEIKOKU ELECTRIC MFG. CO., LTD. (Japan); NIKKISO EIKO Co., Ltd. (Japan); Zhejiang Yonjou Technology Co., Ltd (China).

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Magnetic Drive Pumps Market Segmentation:

By Flow Rate:
• Upto 80 m3/hr
- 200 m3/hr
- 500 m3/hr
• Above 500 m3/hr

By Material:
• Polypropylene
• Polyvinylidene Fluoride
• Stainless Steel
• Nickel Alloys
• PFA
• ETFE

By Application:
• Chemical Processing
• Water Treatment
• Surface Treatment
• Food Processing
• Oil & Gas
• Renewable Energies

By Pump Type:
• Side Channel Pump
• Centrifugal Pump

The magnetic drive pump market size has been determined through a combination of primary and secondary research. The research process began with an extensive secondary research phase that involved gathering qualitative and quantitative data from internal and external sources. This provided an overview and forecast for the magnetic drive pump market and its various segments across different regions. To validate the data and gain additional analytical insights into the topic, several primary interviews were conducted with industry participants and commentators. These included interviews with VPs, business development managers, market intelligence managers, and national sales managers, as well as with external consultants, such as valuation experts, research analysts, and key opinion leaders, all of whom specialize in the magnetic drive pump market.

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