Demand for Magnetic Drive Pump to Grow

As per Future Market Insights (FMI), the global magnetic drive pump market is projected to rise at a CAGR of 5.3%, totaling US$ 807.9 Mn in 2021. Despite stagnant sales amid the COVID-19 pandemic, the magnetic drive pumps market registered 4.4% year-on-year in 2021.To get more news about magnetic drive pumps accessories, you can visit brysonpump.com official website.

Rising awareness about the need to reduce process-fluid leakage in the chemical and municipal wastewater industries is boosting magnetic drive pumps sales. Among various casing materials, stainless steel is extensively used owing to its wide range of benefits such as the reduced initial expenditure required for installation of the pump and low operational cost with better quality. As per FMI, the stainless-steel segment will account for over 41.3% of the market share.
The market will continue gaining from the increasing application of magnetic drive pumps in wastewater treatment. FMI also has estimated that among various applications, the water treatment segment accounts for 14.6% of the global market share.

Among various pump types, centrifugal pumps are gaining traction on the back of increasing demand from the Asia Pacific, which in turn pushing magnetic drive pumps sales. According to the study, centrifugal pumps are likely to retain their dominance, accounting for over 52.1% of global sales.

Growth prospects are likely to remain positive in China market on account of improving scope for application in the mining and construction industries. As per FMI, the China market is estimated to reach a valuation of US$ 125.5 Mn by the end of 2031. The U.K. also is emerging as a highly lucrative market driven by increasing demand for heavy machinery and equipment from the mining and construction industry.
Magnetic drive pumps manufacturers are focusing on strategic partnerships and acquisitions to strengthen their market footprint globally. Also, they are investing in novel product launches to expand their product portfolio.

For instance, in 2020, Blackmer® a Dover company and a global leader in specialty pumps and reciprocating compressor technologies announced the launch of new MAGNES Series Sliding Vane Magnetic Drive Pumps.

In 2021, The Verder Group announced that it has acquired the Jabsco rotary lobe pump product line from Xylem Inc. This acquisition will further consolidate Verder's position in hygienic pumps for food and beverage and pharmaceutical applications.