Report : Asia Pacific Magnetic Drive Pumps Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Flow Rate (Upto 80 m3/hr, 81–200 m3/hr, 201–500 m3/hr, and Above 500 m3/hr), Material (Polypropylene, Polyvinylidene Fluoride, Stainless Steel, Nickel Alloys, PFA, and ETFE), Application (Chemical Processing, Water Treatment, Surface Treatment, Food Processing, Oil & Gas, and Renewable Energies), and Pump Type (Side Channel Pumps, Centrifugal Pumps, and Others)              Â
Chemical Processing Segment to Dominate APAC Magnetic Drive Pumps Market During 2021–2028
According to a new market research study on “Asia Pacific 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$ 581.00 million by 2028 from US$ 310.96 million in 2021. The market is estimated to grow at a CAGR of 9.3% from 2021 to 2028. The report provides trends prevailing in the APAC magnetic drive pumps market along with the drivers and restraints pertaining to the market growth. The Growth of the food & beverages processing sector across the APAC and less maintenance requirement of magnetic drive pumps are the major factor driving the growth of the APAC magnetic drive pumps market. However, limited solid handling capabilities hinders the growth of APAC magnetic drive pumps market.
The APAC magnetic drive pumps market is segmented based on flow rate, material, application, pump type, and country. Based on flow rate, the APAC 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 APAC magnetic drive pumps market in 2020. Based on material, APAC magnetic drive pumps market is segmented into polypropylene, polyvinylidene fluoride, stainless steel, nickel alloys, PFA, and ETFE. The stainless steel segment dominated the APAC magnetic drive pumps market in 2020. Based on application, the APAC 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 APAC magnetic drive pumps market in 2020. Based on pump type, the APAC magnetic drive pumps market is segmented into side channel pumps, centrifugal pumps, and others. The centrifugal pumps segment dominated the APAC magnetic drive pumps market in 2020. Based on country, the APAC magnetic drive pumps market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. The China segment dominated the APAC magnetic drive pumps market in 2020.
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; Sulzer Ltd; and Sundyne are among the leading companies in the APAC 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, ITT Goulds Pumps has introduced a new series of ISO process pumps that are designed to handle waste liquids, chemical slurries, and fibrous materials such as pulp and paper. This series also included process pumps that featured magnetic drive sealless arrangement to handle hazardous or sensitive liquids.
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