(I-BusinessNews.Com, August 27, 2019 ) Meticulous ResearchÂ®Â leading global market research company published a research report titled ÂSealless Pumps Market by Product (Canned Motor Radial, Magnetic Driven Gear, Canned Motor), End User (Chemical, F&B, Pharmaceutical, Oil and Gas), and Geography- Global Forecast to 2025Â. According to this latest publication from Meticulous ResearchÂ®, the global sealless pumps market is expected to grow at a CAGR of 6.7% from 2019 to reach $3.9 billion by 2025. The growth of this market is mainly attributed to advantages of magnetic driven pumps over conventional pumps, regulations on emissions, low cost of maintenance than other pumps, and increasing demand for canned motor pumps in chemical and wastewater treatment industry. Moreover, emergence of intelligent pump systems and micro disc pump technology, evolution of green technology in the market, next generation industrial automation, and technological advancements are the major trends in this market. In addition, rising demand for magnetic driven pumps in Middle East North Africa (MENA), and widening application areas offer growth opportunities for the players operating in this market. However, corrosion resistance of the magnetic element themselves, and high cost and power absorption of the magnetic driven pumps are the key factors expected to hinder the adoption of sealless pumps.
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The global sealless pumps market study presents historical market data in terms of values and volume (2017 and 2018), estimated current data (2019), and forecasts for 2025-by product (canned motor radial pump, magnetic driven gear pump, magnetic driven internal bearing screw pump, and canned motor side-channel pump), end-user (chemical, oil & gas, power generation, pharmaceutical, food & beverage, and others), and geography. The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on product type, the canned motor radial pumps segment is estimated to account for the largest share of the overall sealless market in 2019. The advantages of the radial pumps including smooth flow, self-priming, direct relationship between pump rotational speed and flow, and small size are primarily driving the adoption of these pumps in many countries across the globe.
Based on end user, chemical industry is estimated to command the largest share of this market in 2019. Increasing demand for the chemicals for research, especially in emerging markets as well as from food industry is primarily driving the demand of sealless pumps in this end-use segment.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada, Mexico), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia (China, Japan, India, and RoA), Oceania (Australia, New Zealand), Latin America (Brazil, Argentina,RoLATAM), and Middle East & Africa.
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Asia commanded the largest share of the global sealless pumps market in 2018, followed by Europe, and North America. Moreover, Asia region is expected to grow at the higher CAGR during the forecast period. Growth in this market is expected to be driven by growing urbanization; rapid growth in industries such as chemicals, power and oil and gas; major investments in wastewater treatment; and initiatives to improve proper sanitation.
The key players operating in the global sealless pumps market are IDEX Corporation, Flowserve Corporation, KSB SE & Co. KGaA, IWAKI CO., LTD., Kirloskar Brothers Limited, Teikoku Electric Mfg. Co., Ltd., Nikkiso Co., Ltd., Klaus Union, HERMETIC-Pumpen GmbH, Sundyne, ITI Gould’s Pumps, CP Pumpen AG, March Manufacturing Inc., OPTIMEX, and Dandong Colossus & Co.
Key questions answered in the report-
Â Which are the high growth market segments in terms of product, end user, and region/countries?
Â What was the historical market for sealless pumps across the globe?
Â What are the market forecasts and estimates for the period 2019Â2025?
Â What are the major drivers, restraints, challenges, and opportunities in the global sealless pumps market?
Â Who are the major players in the global sealless pumps market?
Â What are the recent developments in the global sealless pumps market?
Â What are the different strategies adopted by the major players in the global sealless pumps market?
Â What are the geographical trends and high growth regions/countries?
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