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 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.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 219.14 Million |
| Market Size by 2028 | US$ 351.70 Million |
| CAGR (2021 - 2028) | 7.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Flow Rate
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Magnetic Drive Pumps Market is valued at US$ 219.14 Million in 2021, it is projected to reach US$ 351.70 Million by 2028.
As per our report North America Magnetic Drive Pumps Market, the market size is valued at US$ 219.14 Million in 2021, projecting it to reach US$ 351.70 Million by 2028. This translates to a CAGR of approximately 7.0% during the forecast period.
The North America Magnetic Drive Pumps Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Magnetic Drive Pumps Market report:
The North America Magnetic Drive Pumps Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Magnetic Drive Pumps Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Magnetic Drive Pumps Market value chain can benefit from the information contained in a comprehensive market report.
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