Global Canned Motor Pumps Market Expected to Reach USD 1,607.9 Million by 2030

According to a recent market study published by Growth Market Reports, titled, “Global Canned Motor Pumps Market, By Derivative Type, By Capacity, By End-use, and By Region: Size, Share, Trends and Opportunity Analysis, 2019-2030”, the market was valued at USD 1,190.0 Million in 2021 and is expected to expand at a growth rate of 3.5% by 2030.

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As per Growth Market Reports industry analyst, Partha Paul, “The Global Canned Motor Pumps Market is anticipated to register significant growth during the forecast period, 2022-2030. Canned motor pumps are preferred by the chemical industry, due to their ability to work constantly with minimal maintenance.

Overall, the rising demand from the chemical industry is a key market driver for the global canned motor pumps market. This trend is anticipated to continue, as the chemical industry continues to develop and flourish during the forecast period.”

A canned motor pump, often referred to as a seal less motor pump or a hermetically sealed motor pump, is a type of centrifugal pump designed to function without a mechanical seal or a separate lubrication system. The pump comprises an enclosed motor, impeller, and stator. The term, ‘canned’, refers to the motor and pump components housed within a single unit as opposed to being separate pieces of equipment.

Rising demand for water and wastewater treatment is expected to boost the global canned motor pump market during the forecast period. The demand for clean water and effective wastewater treatment rises, due to increasing population and urbanization. Additionally, environmental rules are getting increasingly stringent and mandate enterprises to clean their effluent with high standards.

Canned motor pumps are well-suited for use in water and wastewater treatment applications, as canned motor pumps are hermetically sealed and don't require shaft seals or bearings that are prone to leaks and failures. This makes them suitable for pumping fluids that are corrosive, poisonous, or otherwise hazardous, which are commonly found in water and wastewater treatment facilities.

Canned motor pumps are more energy-efficient than conventional pumps, as they reduce energy consumption and running expenses. These pumps have a smaller footprint than conventional pumps, making them perfect for usage in confined areas where space is limited.

Canned motor pump demand is anticipated to increase in the water and wastewater treatment market in the coming years. This creates chances for leading manufacturers to expand their product portfolio and boost their market share in the future.

Primary and secondary research methodology is used for keen observation and study of the canned motor pump market. Primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects.

Primary interviews are conducted with stakeholders across industry verticals on regular intervals in line with the ongoing studies and to be updated with the latest market trends & developments. Validation of the estimated market size and current and future trends are done from the key opinion leaders (KOLs).

These KOLs are the CXO level people from key companies in the industry and possess the experience of around 10-20 years in the industry. The secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs.

Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases are analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The COVID-19 pandemic has highlighted economic disparities in the global demand in the crisis of global interdependence and governance challenges. Pandemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. Strict measures are required for monitoring the pandemic, which affected businesses and caused unanticipated short and long-term effects.

Consequently, pandemics are problems for individual markets and an enhancement of existing dynamics and limitations. In the long-term, COVID-19 serves as an opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally.

In the present scenario, COVID-19 is hampering the production process of several manufacturing industries and businesses. Moreover, trade barriers are further reducing the demand-supply of various products and services. However, the reduction in outdoor activities and social distancing has created lucrative opportunities for the market.

Key Takeaways from the Study

• Key market players include TEIKOKU ELECTRIC MFG. CO., LTD., KSB SE & Co. KGaA, Nikkiso Co., Ltd., HERMETIC-Pumpen PUMP CO.,LTD., KIRLOSKAR BROTHERS LIMITED (INDIA), HEFEI XINHU CANNED MOTOR PUMP CO.,LTD., Hayward Tyler Ltd., DALIAN HUANYOU CANNED PUMP CO., LTD, OPTIMEX, Pompes Rütschi SA, Dynamic Pumps & Projects (I) Pvt Ltd, HERMAG pumps, Crispumps and MONIBA ANAND ELECTRICALS PVT. LTD.

• On the basis of type, the high-temperature pumps segment is expected to hold a significant market share in 2030 and is projected to expand at a significant CAGR in 2030. The use of high-temperature canned motor pumps ensures the safe handling of hazardous and valuable products. High availability and long service lifetime are characteristic features associated with these pumps.

• Based on capacity, The medium-capacity canned motor pumps segment is expected to hold a significant market share in 2030 and is anticipated to expand at a CAGR of 3.5%, owing to the wide use of these pumps in the chemical & petrochemical industry.

• Based on end-use, the oil & gas segment is expected to hold a significant market share in 2030. Canned motor pumps eliminate the risk of liquid leakage and contribute to environmental quality reduction.

• In terms of regions, the Global Canned Motor Pumps Market is split into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. The market in North America is expected to expand at a significant CAGR during the forecast period. The increasing need for energy-efficient and low-maintenance pumping solutions in various industries, such as chemical, oil & gas, and water & wastewater, is the primary driver of growth in this region. Additionally, strict laws regarding energy consumption and carbon emissions are also boosting market expansion in this region.

Scope Canned Motor Pumps Market Report

Canned Motor Pumps Market Target Audience

• Supply-side: Raw material suppliers and Manufacturers
• Demand Side: Industrial sectors
• Regulatory Side: Concerned government authorities and other regulatory bodies