Redding, California - September 17, 2024
Sealless Pumps Market to Be Worth $8.2 Billion by 2031
Sealless pumps Market Size, Share, Forecast, & Trends Analysis by Product (Magnetic-Driven Pumps, Canned Motor Pumps), Flow Rate, Application (Chemical Transfer, Cooling Systems), End User (Chemical, Pharmaceutical, and Power Generation) and Geography - Global Forecast to 2031
Meticulous Research®—a leading global market research company, published a research report titled, ‘Sealless Pumps Market Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. The sealless pumps market is projected to reach $8.2 billion by 2031, at a CAGR of 10.6% during the forecast period from 2024 to 2031.
The growth of the sealless pumps market is primarily fueled by the increasing adoption of sealless pumps in the food and beverage industries, rising demand for magnetically coupled pumps, and a surge in demand for canned motor pumps in the chemical industries.
Furthermore, increased demand for sealless pumps in the pharmaceutical industry and expanding popularity in the power-generating sector are likely to provide market participants with opportunities for growth. However, the high power consumption associated with magnetic-driven pumps poses a challenge to the growth of the sealless pumps market.
The sealless pumps market is segmented 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 585 magnetic-driven pumps, and vertical suspended magnetic-driven pumps), multistage magnetic-driven pumps, magnetic-driven gear pumps, and magnetic-driven internal bearing screw pumps]}, canned motor pumps { canned motor radial pumps [single stage radial pumps, multistage radial pumps], plastic lined canned motor pumps. Canned motor side channel pumps, all plastic canned motor pumps, API 585 canned motor pumps}), flow rate (up to 80 m3/hr, 81 to 150 m3/hr, 150 to 250 m3/hr,250 to 350 m3/hr, above 351 m3/hr), application (cooling systems, reactor feeds, chemical transfer, circulation systems, solvent transfer, and other applications), end user (chemical, oil & gas, power generation, food & beverage, pharmaceutical, mining, petrochemical refineries, and other end users). The report evaluates industry competitors and analyzes the market at the regional and country levels.
By product, the magnetic-driven pumps segment is anticipated to hold the dominant position, with over 64.0% of the market share in 2024. The growing need for effective and eco-friendly fluid handling solutions, the expanding acceptance of magnetic-driven centrifugal pumps in the chemical industry, and their growing popularity are all factors contributing to the segment's large share.
By flow rate, the 150 to 250 m3/hr segment is anticipated to hold the dominant position, with over 28.0% of the market share in 2024. This segment’s significant share is attributed to the growing need for medium-flow rate sealless pumps in industrial applications, an increasing emphasis on energy-efficient pumps, rising demand for reliable and efficient sealless pumps, and the heightened use of medium-flow rate sealless pumps in the chemical processing and food and beverage industries.
By application, the chemical transfer segment is anticipated to hold the dominant position, with over 32.0% of the market share in 2024. The growth in high-purity chemical applications, the increasing demand for leak containment and prevention, and the rising need for safe and effective handling of hazardous, corrosive, and high-value fluids are key factors contributing to this segment's large market share.
Based on end user, the chemical segment is anticipated to hold the dominant position, with over 34.0% of the market share in 2024. This segment's large share is driven by the chemical industry's increasing focus on sustainable practices and energy efficiency, the rising demand for reliable, maintenance-free pumping solutions, the growing need for canned motor pumps, and the expanding use of magnetic-driven pumps in applications such as chemical synthesis, filtration, and recirculation.
Based on geography, Asia-Pacific is anticipated to hold the dominant position, with over 45.0% of the market share in 2024. The large market share of this region is expected to grow by the presence of prominent sealless pump manufacturers, including IWAKI Co., Ltd. (Japan), Kirloskar Brothers Limited (India), Teikoku Electric Mfg. Co., Ltd. (Japan), and Nikkiso Ltd. (Japan). Additionally, growing urbanization, rapid expansion in industries such as chemicals, power, and oil & gas, and the development of smart sealless pumps are anticipated to drive the demand for sealless pumps in the region.
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 Goulds 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 CQ Ltd (China), Dickow Pumpen GmbH & Co. KG (Germany), and Richter Chemie-Technik GmbH (Germany).
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Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of product, flow rate, application, and end user?
- What was the historical market size for sealless pumps globally?
- What are the market forecasts and estimates for 2024–2031?
- What are the major drivers, restraints, opportunities, challenges, and trends in the sealless pumps market?
- Who are the major players in the sealless pumps market, and what are their market shares?
- What is the competitive landscape like?
- What are the recent developments in the sealless pumps market?
- What do major market players adopt the various growth strategies?
- What are the major market trends, and which are the high-growth countries?
- Who are the local emerging players in the sealless pumps market, and how do they compete with other players?
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