What is Global Magnetic Pump Market?
The Global Magnetic Pump Market is a vast and dynamic sector that has been gaining significant attention in recent years. Essentially, a magnetic pump is a type of pump that uses magnetic force to move fluid. It is a device that replaces the traditional mechanical seal, thus eliminating the common problems associated with seal leakage. The global market for these pumps is vast and varied, encompassing a wide range of applications and industries. In 2022, the market was valued at a substantial US$ 636.5 million, indicating a strong demand for these products. The market is projected to grow even further, reaching an estimated value of US$ 817.7 million by 2029. This represents a compound annual growth rate (CAGR) of 3.6% during the forecast period from 2023 to 2029.
Stationary Shaft, Rotating Shaft in the Global Magnetic Pump Market:
The Global Magnetic Pump Market is divided into two main categories based on the type of shaft used: stationary shaft and rotating shaft. A stationary shaft magnetic pump has a fixed, non-moving shaft, while a rotating shaft magnetic pump has a shaft that rotates to create the pumping action. Each type has its own unique advantages and applications. The leading producers in this market are Flowserve, Sundyne, and Iwaki, who hold market shares of 5.04%, 4.34%, and 4.15% respectively. These companies have established a strong presence in the market through their innovative products and strategic business operations.
Chemical, General Industry, Oil & Gas, Food & Pharmaceutical, Others in the Global Magnetic Pump Market:
The Global Magnetic Pump Market finds its usage in a variety of sectors including Chemical, General Industry, Oil & Gas, Food & Pharmaceutical, and others. In the chemical industry, magnetic pumps are used for the safe and efficient transfer of hazardous, corrosive, and volatile chemicals. In the general industry, they are used in various applications such as water treatment, cooling systems, and more. The oil and gas industry uses these pumps for the extraction and transportation of crude oil and natural gas. In the food and pharmaceutical industries, magnetic pumps are used for their ability to maintain the integrity and quality of the products being pumped.
Global Magnetic Pump Market Outlook:
To rephrase the market outlook for the Global Magnetic Pump Market, it can be said that the market is on a positive growth trajectory. In 2022, the market was valued at a significant US$ 636.5 million. It is expected to grow at a steady pace, reaching an estimated US$ 817.7 million by 2029. This indicates a compound annual growth rate (CAGR) of 3.6% during the forecast period from 2023 to 2029. The market is dominated by key players such as Flowserve, Sundyne, and Iwaki, who hold market shares of 5.04%, 4.34%, and 4.15% respectively. These companies have been instrumental in shaping the market landscape through their innovative products and strategic business operations.
| Report Metric | Details |
| Report Name | Magnetic Pump Market |
| Accounted market size in 2022 | US$ 587 million |
| Forecasted market size in 2029 | US$ 744.9 million |
| CAGR | 3.5% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Flowserve, Sundyne, Iwaki, Hermetic, Dickow Pumpen, Sanwa Hydrotech, Klaus Union, Dandong Colossus, ITT Goulds Pumps, Richter Chemie-Technik, Verder Liquids, Magnatex Pumps, Lanzhou Highland, ASSOMA, Taicang Magnetic Pump, March Manufacturing, GemmeCotti, Desmi |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
