London, Aug. 20, 2019 (GLOBE NEWSWIRE) -- According to a new market research report “Sealless Pumps Market by Product (Canned Motor Radial, Magnetic Driven Gear, Canned Motor), End User (Chemical, F&B, Pharmaceutical, Oil and Gas), and Geography- Global Forecast to 2025”, published by Meticulous Research®, the global sealless pumps market is expected to grow at a CAGR of 6.7% from 2019 to reach $3.9 billion by 2025.
With the evolution of industrial automation in various departments of engineering, pumps and motors sector will also enter into automation architecture. This process has begun with the invention of intelligent Variable Speed Drives (VFDs), which have the embedded knowledge about pumps and their performance. With the convergence of pump and information technology, pumps and motor manufacturers are increasingly embedding intelligence in the drivers, including VFDs and induction motors. The next-generation industrial automation will enable every component of a pumping system to have its Internet Protocol (IP) address that will allow it to communicate via embedded intelligence with every other component in the system. All components including the motor, pump, piping, control valve, instruments, and control system will be able to communicate in real time, enabling all the components in the system to make adaptive changes so that the overall performance is optimized.
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The sealless pumps market study presents historical market data in terms of value and volume (2017, and 2018), estimated current data (2019), and forecasts for 2025 - by product (canned motor radial pump, magnetic driven gear pump, magnetic driven internal bearing screw pump, and canned motor side-channel pump), end-user (chemical, oil & gas, power generation, pharmaceutical, food & beverage, and others), and geography. The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on product type, the canned motor radial pumps segment is estimated to account for the largest share of the overall sealless pumps market in 2019. The advantages of the radial pumps including smooth flow, self-priming, direct relationship between pump rotational speed and flow, and small size are primarily driving the adoption of these pumps in many countries across the globe.
Based on end user, chemical industry segment is estimated to account for the largest share of the overall sealless pumps market in 2019. Increasing demand for the chemicals for research, especially in emerging markets as well as growing demand from food industry is primarily driving the demand of sealless pumps in this end-use segment.
The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016–2019). The sealless pumps market has witnessed number of agreements, partnerships, & collaborations in recent years. For instance, in May 2019, ITT Inc. acquired Rheinhütte Pumpen Group, a designer and manufacturer of centrifugal and axial flow pumps. The acquisition is expected to enhance growth strategies to industrial process (IP’s) segment of the company and bolster IP’s presence in Europe through enhanced pump engineering, manufacturing, testing and channel to market capabilities.
The sealless pumps market is competitive, rapidly evolving, and highly fragmented in nature. The key players profiled in the study includes IDEX Corporation, Flowserve Corporation, KSB SE & Co. KGaA, IWAKI CO., LTD., Kirloskar Brothers Limited, Teikoku Electric Mfg. Co., Ltd., Nikkiso Co., Ltd., Klaus Union, HERMETIC-Pumpen GmbH, Sundyne, ITI Gould's Pumps, CP Pumpen AG, March Manufacturing Inc., OPTIMEX, and Dandong Colossus & Co. among others.
Browse key industry insights spread across 168 pages with 121 market data tables & 47 figures & charts from the report: https://www.meticulousresearch.com/product/sealless-pumps-market-5030/
Scope of the Report:
Market by Product
- Canned Motor Radial Pump
- Single-stage Radial Pump
- Multi-stage Radial Pump
- Magnetic Driven Gear Pump
- Magnetic Driven Internal Bearing Screw Pump
- Canned Motor Side-channel Pump
Market by End User
- Chemical
- Oil & Gas
- Power Generation
- Pharmaceutical
- Food & Beverage
- Others
Market by Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia
- China
- Japan
- India
- Rest of Asia
- Oceania
- Australia
- New Zealand
- Brazil
- Latin America
- Argentina
- RoLATAM
- Middle East & Africa
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Key questions answered in the report-
Advantages of magnetic driven pumps over conventional pumps will propel the sealless pumps market
- How does the magnetic driven pump increase the efficiency and adoption of sealless pump?
- How are the leading players utilizing the advantages of magnetic driven pumping in their products?
Chemical industry accounted for the largest share of the sealless pump market
- What factors are contributing to the frequent usage of sealless pumps in chemical industry?
- How does the penetration of sealless pumps in chemical industry differ from other end users?
The Asia-Pacific sealless pumps market favors both larger and local manufacturers that compete in multiple segments
- What are the top competitors in this market and what strategies do they employ to gain shares?
- What factors are driving growth and which market segments have the most potential for revenue expansion over the forecast period?
- What strategies should new companies look to enter this market use to compete effectively?
- What are the major drivers, challenges, opportunities, and trends in the global sealless pumps market?
- Who are the major players in various countries and what share of the market do they hold?
- What are the geographical trends and high growth regions/countries?
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