Europe Magnetic Drive Pumps Market Growth and Recent Trends by 2028

The Europe magnetic drive pumps market is expected to grow from US$ 256.65 million in 2021 to US$ 444.20 million by 2028; it is estimated to register a CAGR of 8.2% from 2021 to 2028.

Magnetic drive pumps are generally more expensive than mechanical seal pumps. However, the maintenance costs of these pumps are very low, and end users consider long-term financial advantages when choosing the pump. The primary reason for reduced maintenance is the relatively simple design. Moreover, when utilized for normal operations, it is seen that the magnetic drive pumps function for ten years or longer before requiring any repair that are usually inexpensive. Magnetic drive pumps are manufactured to be driven by the force of magnets. Hence, these pumps do not have any shaft coming out of the pump casing, and there is no requirement for shaft sealing devices such as mechanical seals and gland packing. Since the magnetic drive pumps are sealless, the wear and tear risks are very low. This decreases the cost and time of maintenance incurred by the user. Moreover, the elimination of seals gets rid of associated friction loss. No further monitoring of the magnetic coupling is required after the pumped liquid helps lubricate and cool the magnet drive. Thus, low maintenance of the product is one of the key drivers contributing to the growth of the magnetic drive pumps market across various applications such as water treatment, chemical processing, food processing, and oil & gas exploration.

With the new features and technologies, vendors attract new customers to grow their footprints in emerging markets. This factor is likely to drive the Europe magnetic drive pumps market. The Europe magnetic drive pumps market is expected to grow at a substantial CAGR during the forecast period.

Europe Magnetic Drive Pumps Market Revenue and Forecast to 2028 (US$ Million)

Europe Magnetic Drive Pumps Market Segmentation      

TheEurope magnetic drive pumps market is segmented based on flow rate, material, application, pump type, and country.Based on flow rate,theEurope magnetic drive pumps market is segmented into upto 80 m3/hr, 81–200 m3/hr, 201–500 m3/hr, and above 500 m3/hr.Theupto80 m3/hr segment dominated the market in 2020. Based on material, Europemagnetic drive pumps market is segmented into polypropylene, polyvinylidene fluoride, stainless steel, nickel alloys, PFA, and ETFE. The stainless steel segment led the market in 2020. Based on application, the Europemagnetic 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 market in 2020. Based on pump type, the Europemagnetic drive pumps market is segmented into side channel pumps, centrifugal pumps, and others. The centrifugal pumps segment led the market in 2020. Based on country, the Europemagnetic drive pumps market is segmented into France, Germany, Italy, the UK, Russia, Poland, Bulgaria, Sweden, Turkey, Denmark, Hungary, Romania, and the Rest of Europe. The Germany segment dominated the 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.

Europe Magnetic Drive Pumps Report Scope