Global sales of sealless magnetic drive pumps are set to be valued at over US$ 674.6 million in 2023. From 2023 to 2033, the worldwide market is expected to expand at a value CAGR of 6.4%. By 2033, total market revenue is likely to cross US$ 1252.3 million.
Growth in the market is driven by the increasing demand for energy-efficient technologies and rapid industrialization. Growing usage of sealless magnetic drive pumps across sectors such as chemical and pharmaceutical will boost the market.
Rising number of water treatment projects, especially in emerging economies will fuel sealless magnetic drive pump sales. Magnetic drive pump market will also experience greater expansion as the significance of recycling water increases globally.
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Industries are required to invest heavily in new technologies by environmental agencies such as the Pollution Control Agency and the Environmental Protection Agency to limit pollution emissions. This in turn will continue to fuel demand for sealless magnetic drive pumps.
Sealless magnetic drive pumps are widely used in industries such as pharmaceutical and chemical. This is due to their safe, reliable, and leak-proof features. As per Future Market Insights (FMI), pharmaceuticals segment is estimated to hold more than one-fifth of the market value share.
Sealless magnetic drive pumps are used in the pharmaceutical industry for applications where precision and contamination control are critical. They are also suitable for pharmaceutical applications that require high accuracy and precision, such as dosing and metering.
Key Takeaways from Sealless Magnetic Drive Pump Market Study
- The global sealless magnetic drive pump market will expand at a CAGR of 4% through 2033.
- By pump type, metallic pump segment is estimated to hold a dominant share of around 3% in 2023.
- By end use, the pharmaceutical segment will create an incremental opportunity of nearly US$ 3 million through 2033.
- Sealless magnetic drive pump demand in China is likely to increase at 1% CAGR through 2033.
- The United States sealless magnetic drive pump market value is forecast to reach US$ 208.5 million by 2033.
- Germany market will thrive at a CAGR of around 8% between 2023 to 2033.
Who is Winning?
The sealless magnetic drive pump industry is moderately consolidated with few global players acquiring around 70% to 80% of the market shares. Leading manufacturers are likely to invest in new technology developments and expansion of their distribution networks to maintain their market presence.
Few of the leading players in this industry include Ebara Corp, Iwaki Co. Ltd., Flowserve Corp, ITT Inc, Sulzer AG, DXP Enterprises among others.
Recent Developments:
- In August 2021, Flowserve revealed plans of widening their portfolio on offer for sealless pumps, by launching the new Durco Mark 3 ISO magnetic drive pump.
- In June 2021, IDEX announced the acquisition of Flow Management Devices LLC, a manufacturer of precision flow measurement and control solutions.
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