LeapZipBlog: Amanpreet's blog: Canned Motor Pumps Market Expected to Witness the Highest Growth 2029

Canned Motor Pumps Market Expected to Witness the Highest Growth 2029

January 23, 2020 by Amanpreet  

Canned motor pumps are cutting edge centrifugally operated pumps, which run with electric motors, which are sealed hermetically, while being mounted on a single shaft. In turn, this gets rid of the need for conventional mechanical seals. Canned motor pumps make use of a rotating assembly which is completely immersed in fluids, while the stator and rotor is isolated from the liquids which are being pumped.

Fact.MR projects that in the end-use segment, the chemical industry will contribute about 20% of value share throughout the forecast period, which will propel the global canned motor pumps market to a valuation of about US$ 6 Bn by 2029 end.

Major Manufacturers Opt for Reverse Circulation Pumps

Some of the major manufacturers in the canned motor pumps market include names such as Honda Motor Co., Subaru Corporation, Yamaha Motor Co., Briggs and Stratton Corporation, Champion Power Equipment, Toshiba Corporation, and the Hyundai Motor Company among others.

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These companies have been witnessing most of the demand coming from chemical industries, which have become primary end users for such equipment. The high resistance to chemical influence, and effective pumping mechanism are key drivers behind rising adoption. Similar factors have also made canned motor pumps popular among the wastewater industry.

Of the various types of canned motor pumps, reverse circulation pumps have become the most dominant and commonly used variant, owing to the wide range of end use applications. However, higher efficiency in operations has made multi-stage pumps popular and is projected to gain a higher rate of growth.

Applications in Nuclear Power Generation Plays Major Growth Role

With the growing emphasis on climate change mitigation, countries around the world are increasingly considering increased adoption and installation of nuclear power generation, with the aim of cutting down emissions of carbon dioxide, meeting the rising demand for electricity, in addition, to the growing demand for strategic independence.

This is especially true of emerging economies such as India and China who have been increasing their efforts towards the development of nuclear energy sources and equipment. Nuclear energy is also one of the more widely used sources of electricity across Europe, and this trend is incrementally spreading around the world.

On the other hand, the hazardous nature of the radioactive material requires adequate safeguards. Conventionally, such protective systems involved the use of centrifugal pumps. However, this equipment carries a higher risk of leakage. Consequently, canned motor pumps have become the option of choice, which is expected to keep growing as the use of nuclear power goes up.

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Leak Proof Properties Increase Adoption in Petrochemical Installations

The energy density of fuels such as petrol, makes it a widely used material in a range of end use industries. On the other hand petroleum also attracts criticism for its impact on the environment from spills, emissions, and degassing processes, which has been a major issue by regulatory bodies. Therefore, the leak proof nature of canned motor pumps is expected to gain demand in these industries.