Magnetic Drive Pumps Market to Reach $ 1,064.9 Million by 2024
Expanding chemical industry coupled
with increasing application in food processing industry to drive global magnetic
drive pumps market through 2024
According to a report
released at TechSci Research, “Global Magnetic Drive Pumps Market, By Flow Rate, By
Material, By Application, By Region, Competition, Forecast & Opportunities,
2024” global magnetic drive pumps
market is projected reach $ 1,064.9 million by 2024. Anticipated growth in the
market can be attributed to factors such as low maintenance cost and lower risk
of emission of fluid. Moreover, growing chemical and food processing industries
is further likely to steer growth in the market. Magnetic drive pumps are
sealless centrifugal pumps in which induced magnetic-field created due to the
attraction between drive magnet and the impeller magnet allows the torque of
motor to transfer to the pump. These pumps are energy efficient and are widely
used in circulating and storing variety of fluids, especially hazardous and
corrosive fluids.
Browse 4 market data Tables and 122 Figures
spread through 142 Pages and an in-depth TOC on "
Global Magnetic Drive
Pumps Market "
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Global magnetic drive pumps market
is broadly segmented into flow rate, material, application and region. Based on
application, the market is categorized into chemical processing, water
treatment, surface treatment, and food processing. Among these applications,
magnetic drive pumps are majorly used in chemical processing to avoid leakage
and emission of toxic liquids and hazardous gases. Chemical processing is
expected to maintain its dominance during forecast period as well. Some
of the major players in global magnetic drive pumps market are Iwaki Co Ltd,
Sundyne LLC., Klaus Union, ITT Goulds Pumps Inc, Flowserve Corporation, Xylem
Inc, March Manufacturing, Ruhrpumpen Inc., Kirloskar Brothers Limited, among
others.
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“Regionally, global magnetic drive pumps market is segmented as Asia-Pacific,
North America, Europe, Middle East & Africa and South America. Among these,
Asia-Pacific region is leading the market on account of high
growth in chemical and food processing industries in the region. Moreover, increasing
usage of magnetic drive pumps in emerging applications such as pharmaceutical
and refrigeration is further anticipated to drive demand for Magnetic drive
pumps in the region.”
stated Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Magnetic Drive Pumps Market, By Flow
Rate, By Material, By Application, By Region, Competition, Forecast &
Opportunities, 2024”
has evaluated the future growth potential of global magnetic drive pumps market
and provides statistics and information on market structure, size, share and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers to take sound investment decision.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in the global magnetic
drive pumps market.
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