Meticulous Research®— a leading global market research company, published a 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.”
The sealless pumps market is expected to grow at a CAGR of 9.6% by value from 2021 to reach $5.87 billion by 2028. Factors such as the advantages of magnetic-driven pumps over conventional pumps, growing focus on reducing environmental impact with the help of sealless pumps, low maintenance cost than other pumps, and increasing demand for canned motor pumps in the chemical industry are driving the growth of the sealless pumps market. Widening application areas offer lucrative growth opportunities for this market's growth.
Some of the major trends that may support the growth of this market are the emergence of intelligent pumps systems and micro disc pumps technology, next-generation industrial automation, technological advancements, and the evolution of green technology. The corrosion resistance of the magnetic elements themselves and the high cost and power consumption of magnetic-driven pumps are challenges that can obstruct the growth of this market.
The market is segmented based on product, end-use industries, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on product, the global sealless pumps market is segmented into canned motor pumps and magnetic-driven pumps. The magnetic-driven pumps segment is expected to hold the largest share of the global sealless pumps market in 2021. The large market share of this segment is mainly due to the frictionless functions between internal parts, resulting in less generation of heat, lower noise production, and eliminating the need for lubrication. Magnetic drive pumps are typically used where leakage of the pumped liquid poses a great risk, such as with aggressive or risky liquids, exotic materials, acids, alkalis, corrosives, pollutants, and toxics. They are also used for ultra-pure liquids and hard-to-seal liquids.
Based on type, the single-stage magnetic-driven pumps market is segmented into plastic-lined pumps, all-plastic pumps, API 685 pumps, and vertically suspended pumps. In 2021, the plastic-lined pumps segment is expected to hold the largest share of the global single-stage magnetic-driven pumps market. The growth of this segment is due to the factors such as their ability to withstand corrosion due to all plastic components and leak-free construction.
Based on type, the canned motor pumps market is segmented into canned motor radial pumps, plastic-lined pumps, all-plastic pumps, API 685 pumps, and side channel pumps. The canned motor radial pumps segment is expected to hold the largest share of the global canned motor pumps market in 2021. The rising demand for canned motor pumps in the chemical industry and the non-corrosive characteristics of plastic pumps to efficiently carry highly corrosive liquids are some of the major factors driving the growth of this segment.
Based on end-use industry, the global sealless pumps market is segmented into chemical, oil & gas, power generation, pharmaceuticals, food & beverage, and other end-use industries. The chemical industry is expected to hold the largest share of the global sealless pumps market in 2021. Centrifugal pumps comprise over 90% of all pump installations in the chemical industry. They have proven to be the most economical pumps in various services; they require much less maintenance and operational efforts than other pump types. These pumps avoid leakages and wastage during the transfer of various fluids and oil.
Geographically, the market is segmented into five major regions—Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. The Asia-Pacific region is estimated to hold the largest share of the sealless pumps market in 2021. The factors contributing to this region's growth are growing urbanization; rapid growth in industries such as chemicals, power, and oil & gas; major investments in wastewater treatment; and initiatives to improve proper sanitation.
The key players operating in the sealless pumps market are IDEX Corporation (U.S.), Flowserve Corporation (U.S.), KSB SE & Co. KGaA (Germany), IWAKI Co., Ltd. (Japan), ITT Gould's Pumps (U.S.), Kirloskar Brothers Limited (India), Teikoku Electric Mfg. Co., Ltd. (Japan), Nikkiso Co., Ltd. (Japan), Klaus Union (U.S.), Sundyne (U.S.), CP Pumpen AG (Switzerland), HERMETIC-Pumpen GmbH (Germany), March Manufacturing Inc. (U.S.), OPTIMEX (France), Dandong Colossus Co., Ltd. (China), Dickow Pumpen GmbH & Co. KG (Germany), and Richter Chemie-Technik GmbH (Germany).
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