Redding, California, Oct. 26, 2021 (GLOBE NEWSWIRE) -- According to a new market 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% from 2021 to 2028 to reach $5.87 billion by 2028.
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A sealless pump is a type of pump in which the impeller shaft is completely contained in a sealed, pressurized vessel that contains the process fluid. A sealless magnetic drive pump is a conventional centrifugal pump without the dynamic seal normally used to secure the pump shaft. A static containment shell replaces this dynamic seal to form a completely sealed liquid end or pressure boundary.
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.
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 some of the major factors driving the growth of this market. In addition, widening application areas offer lucrative growth opportunities for this market's growth. However, 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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High consumption of essential food products led to disturbance in supply chains in the first and second quarters of 2020. The shutdown of manufacturing plants and operational processes in the oil & gas, chemicals & materials, paper & pulp industries resulted in limited demand for sealless pumps in 2020. Several companies allowed their employees to work from home, while facilities followed as many safety precautions. These lockdowns affected diverse industries, primarily due to the impact on manufacturing operations. For instance, SEPCO shifted its operations considerably to comply with the CDC guidelines by allowing limited workers, adding sanitization and disinfectant stations, and modifying workspace. However, the company had to face several economic and personal losses to tackle the infrastructure updates and industry innovations.
The sealless pumps 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 type, the 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 overall 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 overall 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 overall 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.
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Based on end-use industry, the sealless pumps market is segmented into chemical, oil & gas, power generation, pharmaceuticals, food & beverages, and other end-use industries. The chemical industry is expected to hold the largest share of the overall 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 global sealless pumps 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 global 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 global 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) among others.
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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
- Single-stage Magnetic-driven Pumps
- Magnetic-driven Gear Pumps
- Magnetic-driven Internal Bearing Screw Pumps
- Magnetic-driven Centrifugal 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)
- Canned Motor Radial Pumps
Sealless Pumps Market, by End-use Industry
- 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
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
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