Global magnetic drive pumps market stood at $ 795.9 million in 2018 and is projected to grow at a CAGR of 5% to reach $ 1064.9 million by 2024
NEW YORK, June 13, 2019 /PRNewswire/ -- Global Magnetic Drive Pumps Market, By Flow Rate (81-200 m³/hr, Up to 80 m³/hr, 201-500 m³/hr, >500 m³/hr), By Material (Stainless Steel, PP & Others), By Application (Chemical Processing, Water Treatment & Others), By Region, Competition, Forecast & Opportunities, 2024
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Global magnetic drive pumps market stood at $ 795.9 million in 2018 and is projected to grow at a CAGR of 5% to reach $ 1064.9 million by 2024. Magnetic drive pumps have advantages such as minimum leakage, high shelf life and specific usage in applications to avoid emission of poisonous gases which is expected to drive their demand globally. Magnetic drive pumps find application in processing of chemical fluids which are hazardous, corrosive and aggressive to handle. Moreover, growing concern regarding avoiding the leakage of chemical fluids and harm to the workers involved in the production process is further anticipated to fuel demand for magnetic drive pumps in the coming years. However, limitations such as limited solid handling capacity and risk of dry running are some of the challenges for the market.
The market for magnetic drive pumps is segmented on the basis of flow rate, material, application and region.Based on material, the market is categorized into Polypropylene (PP), Polyvinylidene fluoride (PVDF), Stainless Steel and Others.
Of all, stainless steel is widely used in magnetic drive pumps due to its properties such as excellent corrosion resistance and high temperature resistance. Magnetic pumps made with stainless steel can withstand against hazardous fluids such as acids, corrosive solvents and brine water.
Based on application, the market is segmented into chemical processing, water treatment, surface treatment, food processing and others, of which chemical processing dominates the market as magnetic drive pumps are used for transportation of chemicals and its distribution.
Regionally, the market has been segmented as Asia-Pacific, North America, Europe, Middle East & Africa and South America.Among these regions, Asia-Pacific is the largest market for magnetic drive pumps.
Expanding manufacturing sector coupled with rising inclination towards energy efficient pumps across various industries such as oil & gas, chemicals, food processing, etc., are propelling demand for magnetic drive pumps across Asia-Pacific.
Some of the key players operating in global magnetic drive pumps market include, Iwaki Co Ltd, Sundyne LLC., Klaus Union, ITT Goulds Pumps Inc, Flowserve Corporation, Ebara Corporation, Xylem Inc, March Manufacturing, Ruhrpumpen Inc., Kirloskar Brothers Limited, among others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
-- To analyze and forecast global magnetic drive pumps market size.
-- To forecast global magnetic drive pumps market based on flow rate, material, application and regional distribution.
-- To identify drivers and challenges for global magnetic drive pumps market.
-- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global magnetic drive pumps market.
-- To conduct pricing analysis for magnetic drive pumps market.
-- To identify and analyze the profile of leading players involved in the manufacturing of magnetic drive pumps.
Some of the key players operating in global magnetic drive pumps market include, Iwaki Co Ltd, Sundyne LLC., Klaus Union, ITT Goulds Pumps Inc, Flowserve Corporation, Ebara Corporation, Xylem Inc, March Manufacturing, Ruhrpumpen Inc., Kirloskar Brothers Limited, among others.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of leading manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, distribution channels and presence of all major players operating in global magnetic drive pumps market.
The analyst calculated magnetic drive pumps market size using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
-- Magnetic drive pump manufacturers and suppliers
-- Government and other regulatory bodies
-- Research institutes and organizations
-- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global medical drive pumps market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
-- Market, By Flow Rate:
o Up to 80 m³/hr
o 81 - 200 m³/hr
o 201 - 500 m³/hr
o Above 500 m³/hr
-- Market, By Material:
o Polypropylene
o Polyvinylidene fluoride
o Stainless Steel
o Others
-- Market, By Application:
o Chemical Processing
o Water Treatment
o Surface Treatment
o Food Processing
o Others
-- Market, By Region:
o Asia-Pacific
China
Japan
India
Australia
South Korea
Thailand
Rest of Asia-Pacific
o Europe
Germany
Russia
United Kingdom
Italy
France
Rest of Europe
o North America
United States
Canada
Mexico
o Middle East & Africa
Saudi Arabia
UAE
Iran
South Africa
Rest of MEA
o South America
Brazil
Argentina
Colombia
Rest of South America
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global magnetic drive pumps market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
-- Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
-- Profit margin analysis in case of direct and indirect sales channel.
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