Press release
Sealless Pumps Market Projected to Reach $5.87 Billion by 2028
Comprehensive Report Unveiled by Leading Global Market Research Firm
Meticulous Research®, a premier global market research company, has released its latest comprehensive research report titled "Sealless Pumps Market by Product (Canned Motor Pumps, Magnetic-driven Pumps), End Use Industries (Chemical, Oil & Gas, Power Generation, Pharmaceutical, Food & Beverage, Other End-use Industries), and Geography - Global Forecast to 2028."
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The sealless pumps market is poised for robust growth, expected to register a Compound Annual Growth Rate (CAGR) of 9.6% in terms of value from 2021, reaching a staggering valuation of $5.87 billion by the end of 2028. Key drivers propelling this growth include the inherent advantages of magnetic-driven pumps over conventional ones, a growing emphasis on reducing environmental impact through sealless pump technology, lower maintenance costs compared to traditional pumps, and the increasing adoption of canned motor pumps within the chemical industry. Moreover, the expanding application spectrum presents lucrative avenues for market expansion.
Emerging trends such as intelligent pump systems, micro disc pump technology, next-generation industrial automation, technological advancements, and the evolution of green technology are expected to further bolster market growth. However, challenges such as the corrosion resistance of magnetic elements and the relatively high cost and power consumption of magnetic-driven pumps may pose hurdles to market progression.
The market segmentation is based on product, end-use industries, and geography. The report also provides an in-depth analysis of industry competitors and evaluates market dynamics at the country level.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/sealless-pumps-market-5030
Key Segments Include:
• Product: Canned Motor Pumps, Magnetic-driven Pumps.
• End-use Industries: Chemical, Oil & Gas, Power Generation, Pharmaceutical, Food & Beverage, and Other End-use Industries.
Product Breakdown:
• In 2021, the magnetic-driven pumps segment is anticipated to dominate the global sealless pumps market, attributed to their frictionless operation, resulting in minimal heat generation, reduced noise levels, and elimination of the need for lubrication. These pumps find extensive applications where leakage of pumped liquids poses significant risks, such as with aggressive or hazardous fluids.
• Within the magnetic-driven pumps category, the single-stage segment is further segmented into plastic-lined pumps, all-plastic pumps, API 685 pumps, and vertically suspended pumps. Plastic-lined pumps are projected to command the largest share in 2021 due to their corrosion-resistant properties and leak-free construction.
• In the canned motor pumps segment, canned motor radial pumps are expected to lead the market in 2021, driven by the surging demand in the chemical industry and the non-corrosive attributes of plastic pumps, facilitating the efficient handling of highly corrosive fluids.
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End-use Industry Insights:
• The chemical industry is forecasted to dominate the global sealless pumps market in 2021, primarily due to the extensive utilization of centrifugal pumps, which offer cost-effectiveness, low maintenance, and operational efficiency, minimizing leakages and wastage during fluid transfer processes.
Geographical Analysis:
• Asia-Pacific is projected to hold the largest share of the sealless pumps market in 2021, fueled by rapid urbanization, significant industrial growth across sectors such as chemicals, power, and oil & gas, substantial investments in wastewater treatment facilities, and initiatives aimed at enhancing sanitation infrastructure.
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Key Players: The sealless pumps market is characterized by the presence of several key players, including IDEX Corporation, Flowserve Corporation, KSB SE & Co. KGaA, IWAKI Co., Ltd., ITT Gould's Pumps, Kirloskar Brothers Limited, Teikoku Electric Mfg. Co., Ltd., Nikkiso Co., Ltd., Klaus Union, Sundyne, CP Pumpen AG, HERMETIC-Pumpen GmbH, March Manufacturing Inc., OPTIMEX, Dandong Colossus Co., Ltd., Dickow Pumpen GmbH & Co. KG, and Richter Chemie-Technik GmbH.
Meticulous Research® is committed to delivering comprehensive and actionable insights, empowering businesses to make informed decisions. For further information or to obtain a copy of the report, please visit [website] or contact [contact information].
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