Magnetic Drive Pump has many Pros, such as to increase the shelf life and reduce leakage. These are used in chemical fluids that are very dangerous and difficult to handle.
The Global Magnetic Drive Pump Market is currently stood at USD 800 Million, which is expected to grow about 1100 Million USD at the given forecasted period of time with a growth rate of 5% CAGR. Due to the effectiveness in applications which cover the corrosive and dangerous to handle in chemical fluids is increasing its demand in the market. It also can save the workers in the production of the chemical fluids process, which also a key factor in increasing demand. However, there are some challenges, such as less solid handling and dryness risk what this market is facing.
Top Driver: Robust Demand for High Shelf Life of Poisonous Gas and Chemicals
As Magnetic drive Pumps are using in the chemical fluids, poisonous gases, water treatment, surface treatment and food processing in which there is a chance of losses. Therefore, by using or processing chemical and Poisonous Gases, Magnetic Drive Pump is helping to reduce the leakage and increase shelf life which is a key driving factor of this segment. Additionally the increasing concerns of saving workers with harm and danger who are involved in chemical processing are also playing a vital role in this industry.
Stainless steel to make Crucial Contribution to Growth of Global Magnetic Drive Pump Market
Because of the driving factor is to reduce leakage and increase shelf life therefore it needs a material which should have excellent corrosion and can stand with strength against dangerous fluids such as acids, brine water and corrosive material. The only Stainless steel can provide such strength in order to maintain its strength and power. Therefore Stainless steel is one of the major segments in this market which can contribute towards real growth of Global Magnetic Drive Pump Market.
On the basis of material other segments are Polypropylene (PP) and Polyvinylidene fluoride (PVDF) which also the part of this Magnetic Drive Pump.
Rising Investments in Magnetic Drive Pump and Research to Benefit Asia Pacific Market
By region this market is segmented into North America, South America, Europe, Middle East and Asia Pacific. Because Oil and Gas, Chemical and Food Processing industries have major use of Magnetic Drive Pump therefore Asia Pacific market has the largest share among them. This region is producing tremendous demand for magnetic drive pump and also expected to grow in the forecasted period of time. North America Market is following in this region by their growth as they have major concerns of safety of workers during their chemical processing’s.
Players to Focus on Expanding Applications in Global Magnetic Drive Pump Market
There are huge numbers of key players which are working to boost the market. They are providing best and quality material of magnetic drive pump to stand as brands. Some of them are Sundyne, Klause Union, ITT Goulds Pumps, Flowserve, CP Pumpen, Dandong Colossus, Micropump, Verder and Desmi.
Sundyne: Many Customers are using Sundyne Pump because of their small variance and non-OEM Components. Their risk of Equipment failure is very less. They machined their pumps with high engineering techniques. Therefore, they are standing in the front of the market leader and holds a major share in Global Magnetic Drive Pump Market.
ITT Goulds Pump: They are expanding their business globally by providing offshore water treatment systems, efficiency systems and Plant Optimization. They offered excellent services and parts in the marker. Therefore, they are pioneer and dominant in US market.
Dandong Colossus: A Chinese manufacturer whose main product is magnetic drive pump is leading in the Asia Pacific Market. Their Products are widely applied in their local and international market of mining, chemical, petroleum industries. Their Annual Production capacity of Magnetic Drive Pumps are 3000 Sets and providing high quality product solutions with budgeted price in a well manner way.
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