Analysis of Canned Motor Pumps Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Expanding at a CAGR of 6%, the global canned motor pumps market is forecasted to increase from a valuation of US$ 2 billion in 2023 to US$ 3.6 billion by the end of 2033. Reverse circulation pumps are often used in conjunction with other pumps to boost overall pumping capacity.
A canned motor pump is a centrifugal pump with an electric motor installed on a single shaft that is hermetically sealed, doing away with the need for a sealing device. Canned motor pumps' key benefits include their extreme compactness and great power-to-weight ratio. They are therefore perfect for usage in situations where there is a requirement for a lightweight pump or where space is at a premium. Furthermore, canned motor pumps are very reliable and have a long service life.
Fluids that are toxic, explosive, dangerous, and supercritical are widely pumped with canned motor pumps. The chemical industry, which foresees the expansion of the canned motor pumps market during the projection period, finds that a canned motor pump is the right choice for circulation and transfer activities.
The durability, low vibration, high serviceability, cost-efficiency, high-pressure & high-temperature characteristics, and the ability to handle hazardous and corrosive fluids without any danger of emissions into the environment are just a few of the advantages of canned motor pumps. This element is probably going to help the market for canned motor pumps grow.
The market for canned motor pumps is predicted to rise rapidly due to rising industrialization and the wide range of applications for this pump in the chemical, petrochemical, oil & gas, pharmaceutical, and other industries to process highly volatile fluids, including LNG, LPG, liquid ammonia, and refrigerants, among others.
The market is expanding as a result of factors such as the advantages of these pumps over traditional pumps, the growing emphasis on minimizing environmental impact, the low maintenance costs compared to other pumps, and the rising demand for canned motor pumps in the chemical industry.
The rapid growth of online stores that sell a variety of canned motor pumps at reasonable costs and the expansion of manufacturing facilities across regions are the elements anticipated to drive the market for canned motor pumps worldwide. Increasing demand for reliable and energy-efficient pumps from end-use industries and a rise in R&D investments to create advanced canned motor pump technologies are driving market expansion.
One of the primary drivers propelling market expansion is rapid industrialization, which is also accompanied by rising product demand from the wastewater treatment industry. The oil and gas sector has adopted numerous products to undertake exploratory operations in offshore and deep-water regions all over the world.
Canned Motor Pumps Market Size (2023)
US$ 2 Billion
Projected Market Value (2033)
US$ 3.6 Billion
Global Market Growth Rate (2023 to 2033)
Market Share of Reverse Circulation Pumps
Key Companies Profiled
“Huge Demand for Water & Wastewater Treatment Facilities”
Reusing wastewater is an important strategy for addressing water scarcity and meeting rising water demands. To process used water, canned motor pumps are widely employed in wastewater treatment facilities. Utilizing treated wastewater can lessen the strain on water resources that are not sustainable.
It is anticipated that the infrastructure for water and wastewater treatment would greatly advance globally over the coming years. Wastewater treatment facilities' modular designs have also lowered the initial, significant investments, making them feasible options from an economic standpoint. As wastewater flow and treatment plant capacity requirements rise, these plants are easily expandable.
The expansion of new water treatment facilities around the world is anticipated to support the development of the water and wastewater sector due to the growing global population and rising water demand across numerous industries. As a result, the need for canned motor pumps is anticipated to increase.
“Constant Advancements in Canned Motor Pumps”
In a variety of sectors and applications, canned motor pumps have shown to be reliable machines that meet high standards under challenging circumstances. They provide exceptional operational safety thanks to their hermetic construction and dual safety sleeve.
Canned motor pumps can also benefit from reduced maintenance needs and a long service life because they don't use mechanical seals, which is a great foundation for low life-cycle costs. Thus, high-quality devices from reputable manufacturers constitute an excellent option for selective users with exceptional efficiency. For various applications, they are each independently designed in various models.
The canned motor pumps market will benefit greatly from the IoT's rising adoption as pumps will have more integrated technology and be able to employ advanced analytics to optimize themselves for the systems. This necessitates that the market for canned motor pumps today be able to meet the demands. The market is about to undergo a transition, giving vendors with the capacity to produce intelligent and energy-efficient canned motor pumps an advantage over their competitors.
Several new developments are contributing to increased flow rate and output pressure while reducing manufacturing costs and enhancing pump performance. Additional factors, including increased investments in industrial facilities and expanding demand for advanced canned motor pumps, are likely to propel the market. The advantage of canned motor pumps over centrifugal or positive displacement pumps is their better efficiency, which makes them more dependable in challenging circumstances.
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“Easy Availability of Low-cost Alternatives”
Pricing trends indicate that the high cost of energy-efficient canned motor pumps and the fluctuating raw material prices are impeding market expansion. The availability of low-cost alternatives is hampering market growth.
“Rapid Expansion of Chemical Industry in Asia Pacific”
Asia Pacific accounts for 50% share of the global market at present. Asia Pacific has emerged as a manufacturing powerhouse in the world making the region the most suitable market for canned motor pump manufacturers. The surging need for heating, ventilation, and air conditioning systems, the rapid expansion of the chemical industry, and increased investments in infrastructure development projects are supporting market expansion.
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“Ongoing Development of Industrial Facilities in the Country”
Market expansion in the United States is attributed to an increase in manufacturing and processing businesses, vast hydrocarbon reserves, and rising oil and gas production plans. The increased emphasis on producing more power and ongoing development of industrial facilities to boost tourist attractions will favor installing advanced pumps.
“Market Benefitting Due to Strict Government Policies to Reduce Water Pollution”
The market in Germany is projected to remain the most lucrative market for canned motor pumps. The presence of top canned motor pump manufacturers, high demand for oil and gas pumps, and strict government policies to reduce water pollution are boosting market revenue.
“Increasing Investments by Top Manufacturers in Renewable Energy Sources”
The availability of manpower and raw materials at lower costs is encouraging investors to establish production plants in Japan. The market is driven by rising R&D expenditures, an increase in the local supply of standard pumps, increasing investments by top manufacturers in renewable energy sources, and the booming pharmaceutical industry.
“Reverse Circulation Pumps Widely Used in High-pressure Situations Where Steady Flow Rate is Required”
Under product, the market is segmented into standard pumps, high temperature pumps, reverse circulation pumps, liquid pumps, multistage pumps, and others. Reverse circulation canned motor pumps account for 60% share of the global market.
Reverse circulation pumps are developed to offer a big volume of liquid in a compact space. These pumps can move fluids in either direction and are employed in several industries. In high-pressure situations where a steady flow rate is required, these pumps are widely applied. These pumps are widely used in oil & gas and industrial applications due to their ability to process highly volatile fluids such as LPG, LNG, Liquid Ammonia, and refrigerants.
“Rising Exploration Operations for Finding New Fossil Fuel Reserves Driving Demand for Canned Motor Pumps in Oil & Gas Industry”
Based on end use, the market is divided into chemicals, water & wastewater, oil & gas, power, pharmaceuticals, food & beverages, and agriculture. Demand for canned motor pumps in the oil & gas industry is anticipated to be driven by rising exploration operations for finding new fossil fuel reserves, such as natural gas and petroleum.
Canned motor pumps are gaining traction in the oil and gas sector. Pumps must be reliable and efficient to draw resources from the deepest parts of the ocean and of the land, which demands intensive drilling and extraction labor.
Almost all oil and gas industry verticals have canned motor pumps installed. Canned motor pumps are located in numerous refineries to feed the machines treating crude oil with the raw product, they are used at the outlets or gas stations to offer the end product to the client. Canned motor pumps are employed in regulating transport activities via pipelines.
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Key canned motor pump producers are increasing their efforts to provide the end-users with highly effective products following safety regulations and maintaining product standards. Leading companies are focusing on quality control, forming strategic alliances with other producers, and supply chain management to broaden their product lines.
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The use of canned motor pumps is anticipated to increase at a CAGR of 6% through 2033.
Nikkiso, OPTIMEX, and Shinhoo are the top providers of canned motor pumps.
Worldwide demand for canned motor pumps is currently valued at US$ 2 billion.
Reverse circulation pumps hold 60% share of the global market.
By 2033-end, the canned motor pumps market is expected to reach a valuation of US$ 3.6 billion.
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