The Sealless Pumps Market is expected to reach a value of $5.87 billion by 2028, at a CAGR of 9.6% during the forecast period 2021-2028. 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 Impact of COVID-19 on the Sealless Pumps Market
The COVID-19 pandemic severely impacted several sectors, including the industrial sector, with major manufacturers either shutting down their operations completely or operating at reduced capacities following the directives issued by their respective governments. Uncertainty regarding the duration of the lockdown and supply-chain disruptions made it more difficult for industry players to anticipate the recovery. This crisis caused structural shifts that had significant implications on the market.
The outbreak of the COVID-19 pandemic in 2020 made a huge impact on the investment and adoption of sealless pumps. The sealless pumps market was highly affected by the disruptions in end-user verticals, such as chemical, oil & gas, power and energy, and other verticals. This has caused a widespread economic breakdown across several countries, trade routes, and global supply chains.
The oil & gas industry witnessed a huge drop in crude oil prices, adversely affecting supply chains and commodities demand. A similar situation was observed in the coal and mining industry, wherein price drops in commodities were observed across several countries, further slowing down the mining companies to operate with full labor capacity. Along with oil & gas and mining, other industries such as food & beverage production, chemical, pharmaceuticals, and others also witnessed disruption in the supply chain. Also, with the reduced labor and lesser demand, these industries are expected to recover by 2022, thereby impacting the market of sealless pumps for the duration.
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Advantages of magnetic-driven pumps over conventional pumps to drive the growth of the market
Magnetic-driven pumps or mag-drive pumps are sealless centrifugal pumps that use a drive magnet fitted to the motor and a driven magnet connected to the pump impeller. These magnets are separated by a casing that creates a static containment shell preventing the fluid from coming into contact with the motor and motor shaft. The static seal is more resistant to wear and tear to ensure safety even in situations that demand optimal yield and productivity.
Conventional mechanical seal pumps require a permanent liquid supply to avoid the dry run of the mechanical seal. Without this lubrication, the sealing gets damaged, and hence, the plant operator has to provide appropriate extra flushing connections and constantly monitor fluid levels. This increases the installation and maintenance costs for the end-users. On the other hand, magnetic-driven pumps do not require continuous liquid supply since they are sealless and have better speed control. They provide speed control that can be up to 30% more efficient than fan damper control and 44% more efficient than throttling valves for pumps flow control.
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. Sealed pumps applied to these types of services may leak over time or require complex, expensive double seals to prevent hazardous/challenging liquids from escaping to the atmosphere, leading to safety hazards, downtime, and increased maintenance requirements.
Magnetic drive pumps have no direct connection between the electric motor shaft and the impeller; therefore, no seal is needed. There is no risk of leakage unless the pump casing is broken. Seals are known as a major cause of pump trips and unscheduled shutdowns. The elimination of seals is a great improvement for the performance, reliability, and availability of pumps. The risk of leakage is eliminated; this means that liquids can be pumped without spillages. Eliminating the seals also gets rid of associated friction loss, wear, costs, and noise. This provides complete separation of liquid from the pump drive and better motor power transfer to the pump. There is practically no heat transfer from the electric motor because the pump chamber is completely separated from the electric motor by a large air gap; this provides an effective barrier between the two.
Moreover, magnetic-driven pumps can be easily installed in a short period. These pumps have no requirement of external piping for seal flush, no additional monitoring of the magnet coupling, and no complex seal support system. There is less cost involved in system design and procurement, no concerns regarding material compatibility or appropriate buffer liquids.
Key Findings in the Sealless Pumps Market Study:
The canned motor pumps segment is projected to grow at a significant pace during the forecast period
The canned motors pumps segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the safety and reliability associated with this pumping solution due to the absence of mechanical sealing properties resulting in a leak-proof, compact design, and low noise & vibration pumps.
The plastic-lined pumps segment is projected to grow at the highest CAGR during the forecast period
The plastic-lined pumps segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is due to its ability to withstand corrosion due to all plastic components and leak-free construction.
The all-plastic pumps segment is expected to grow at the highest CAGR during the forecast period
The all-plastic pumps segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is mainly attributed to 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.
The chemical industry is expected to grow at the highest CAGR during the forecast period
The chemical industry is expected to grow at the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the efficient fluid management solutions provided by sealless pumps. These pumps avoid leakages and wastage during the transfer of various fluids and oil.
Asia-Pacific is to be the fastest-growing regional market by value
Asia-Pacific is expected to witness the fastest growth during the forecast period. The factors attributed to the high growth of this region 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.
Countries such as China, India, Japan, Malaysia, Thailand, and Singapore are some of the largest economies in this region and have huge potential for sealless pumps market due to the rapid increase in industrialization. In addition, the demand for oil and gas in these countries is continuously rising.
According to the Association of Southeast Asian Nations (ASEAN), the energy demand in this region has increased by 60% over the last 15 years due to rapid urbanization. In addition, gas and oil consumption would rise almost 60% and 80% respectively by 2040. Furthermore, this region has also witnessed a rise in wastewater government initiatives to provide clean water for consumption. As the major application of sealless pumps includes oil & gas, water supply & wastewater, refineries, and pharmaceutical industries, the rapid rise of these industries in this region would drive the market in the next five years.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategies adopted by the leading market participants in the sealless pumps market over the last four years. The key players profiled 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).
Scope of the Report
Sealless Pumps Market, by Product
- Magnetic-driven Pumps
- Magnetic-driven Centrifugal Pumps
- Single-stage Magnetic-driven Pumps
- Plastic-lined Magnetic-driven Pumps
- All Plastic Magnetic-driven Pumps
- API 685 Magnetic-driven Pumps
- Vertical Suspended Magnetic-driven Pumps
- Multi-stage Magnetic-driven Pumps
- Magnetic-driven Gear Pumps
- Magnetic-driven Internal Bearing Screw Pumps
- Canned Motor Pumps
- Canned Motor Radial Pumps
- Single-stage Radial Pumps
- Multi-stage Radial Pumps
- Plastic-lined Canned Motor Pumps (Single-stage)
- Canned Motor Side Channel Pumps
- All Plastic Canned Motor Pumps (Single-stage)
- API 685 Canned Motor Pumps (Single-stage)
Sealless Pumps Market, by End-use Industries
- Chemical
- Oil & Gas
- Power Generation
- Food & Beverage
- Pharmaceutical
- Other End-use Industries
Sealless Pumps Market, by Geography
- Asia-Pacific
- China
- India
- Japan
- Australia
- New Zealand
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- North America
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
Key Questions Answered in the Report: