Stainless Steel Segment to Dominate Europe Magnetic Drive Pumps Market During 2021–2028
According to The Insight Partners market research study on “Europe Magnetic Drive Pumps Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Flow Rate, Material, Application, and Pump Type” is expected to reach US$ 444.20 million by 2028 from US$ 256.65 million in 2021. The market is estimated to grow at a CAGR of 8.2% from 2021 to 2028. The report provides trends prevailing in the Europe magnetic drive pumps market along with the drivers and restraints pertaining to the market growth. Expansion of food & beverages processing sector worldwide and less maintenance requirement of magnetic drive pumps are the major factor driving the growth of the Europe magnetic drive pumps market. However, limited solid handling capabilities hinders the growth of Europe magnetic drive pumps market.
The Europe magnetic drive pumps market is segmented based on flow rate, material, application, pump type, and country. Based on flow rate, the Europe magnetic drive pumps market is segmented into upto 80 m3/hr, 81 – 200 m3/hr, 201 – 500 m3/hr, and above 500 m3/hr. The upto 80m3/hr segment dominated the Europe magnetic drive pumps market in 2020. Based on material, Europe magnetic drive pumps market is segmented into polypropylene, polyvinylidene fluoride, stainless steel, nickel alloys, PFA, and ETFE. The stainless steel segment dominated the Europe magnetic drive pumps market in 2020. Based on application, the Europe magnetic drive pumps market is segmented into chemical processing, water treatment, surface treatment, food processing, oil & gas, and renewable energies. The chemical processing segment dominated the Europe magnetic drive pumps market in 2020. Based on pump type, the Europe magnetic drive pumps market is segmented into side channel pumps, centrifugal pumps, and others. The centrifugal pumps segment dominated the Europe magnetic drive pumps market in 2020. Based on country, the Europe magnetic drive pumps market is segmented into France, Germany, Italy, UK, Russia, Poland, Bulgaria, Sweden, Turkey, Denmark, Hungary, Romania, and Rest of Europe. The Germany segment dominated the Europe magnetic drive pumps market in 2020.
CDR Pumps; CP Pumpen AG; Dickow Pump Company; Finish Thompson Inc.; Flowserve Corporation; HERMETIC-Pumpen GmbH; ITT Goulds Pumps; IWAKI CO., LTD.; Klaus Union; KSB SE & Co. KGaA; Optimex; Sulzer Ltd; and Sundyne are among the leading companies in the Europe magnetic drive pumps market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Flowserve Corporation has announced the HPX-Mag Magnetic Drive Pump that is horizontal, sealless, single-stage, overhung, radially split, and centerline-mounted. This pump features a high-efficiency magnetic coupling.
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