North America Magnetic Drive Pumps Market

The North America magnetic drive pumps market is expected to grow from US$ 219.14 million in 2021 to US$ 351.70 million by 2028; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028.

The food & beverages industry involves processing raw meats and the production of spirits and wines. The US food industry is valued at over ~US$ 500 billion; it includes processing foods from raw materials to finished products, which are good for consumption by animals and humans. The food & beverage industry emphasizes the quality and sanitation of the equipment and finished products. A magnetic drive pump can help pump several chemicals, including detergents, sanitizers, and cleaning chemicals. The continuous increase in the number of food processing units is a key factor driving the growth of the magnetic drive pumps market. Magnetic drive pump operation is similar to a standard centrifugal pump, except for the removed motor shaft seal. This results in eliminating leaks that are sometimes caused by shaft seal failure. Moreover, many soft drink producers require a magnetic drive pump for moving the syrup to their respective blending stations. The magnetic drive pump's magnetic coupling eliminates the requirement for rotating mechanical seals and eradicates the possibility of leakages at the seal points. Thus, the increasing food & beverages sector is expected to drive the magnetic drive pumps market in the coming years. 

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

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

      

North America Magnetic Drive Pumps Market Segmentation    

The North America magnetic drive pumps market is segmented based on flow rate, material, application, pump type, and country. Based on flow rate, the North America 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 81–200 m³/hr segment dominated the market in 2020. Based on material, the North America magnetic 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 North America 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 market in 2020. Based on pump type, the North America magnetic 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 North America magnetic drive pumps market is segmented into the US, Canada, and Mexico. The US segment dominated the 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 North America magnetic drive pumps market. 

North America Magnetic Drive Pumps Strategic Insights

Strategic insights for the North America Magnetic Drive Pumps provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Magnetic Drive Pumps Report Scope

North America Magnetic Drive Pumps Regional Insights

The geographic scope of the North America Magnetic Drive Pumps refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.