Canned Motor Pumps Market Size, Share, Growth, and Industry Analysis by Type (Reverse Circulation Pumps, High Temperature Pumps, Standard Basic Pumps), by Application (Nuclear Energy Industry, Oil & Gas, Chemical Industry, HVAC Industry), and Regional Forecast to 2027

Updated On: 15 April 2024

canned motor pumps market Report Overview

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The global canned motor pumps market size was 3017.15 million in 2021 and is expected to reach USD 4796.75 million in 2027, exhibiting a CAGR of 8.03% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with canned motor pumps market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Canned motor pump is a centrifugal pump with hermetically sealed electric motor mounted on single shaft thus eliminating the requirement of mechanical seal or another sealing device. A part of the pumped liquid is by-passed through the motor, for cooling of the motor and lubricating the bearing. Canned motor pump are utilized for the transfer of liquids that necessitate special handlings such as acids, caustics, solvents, and other substances. The motor and pump components are often composed of corrosion-resistant materials, such as stainless steel or ceramic to safeguard long-term performance and sturdiness. The pumped liquid cools the motor while loosening the bearings and interior constituents.  It can also benefit from reduced maintenance needs and long service life as they don’t use mechanical seals. Several new developments are contributing to increased flow rate and output pressure decreasing trade cost and augmenting pump performance. The high implementation of advanced technology and the presence of large players in this region are likely to create plentiful progression opportunities for the market. Increasing need for energy-efficient and low-maintenance pumping solutions in various industries, such as chemical, oil & gas, and water & wastewater is the crucial driver of the market progression in this region. Manufacturers carry on to create pumps that satisfy the developing needs of customers and persist economical in a market that is continuously evolving by investing in research & development and being on the critical advantage of new technologies. Canned motor pump demand is anticipated to upsurge in the coming period as businesses continue to prioritize energy efficiency and sustainability. Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

COVID-19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID-19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

canned motor pumps market Segmentation

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• By Type Analysis

According to type, the market can be segmented into reverse circulation pumps, high temperature pumps, standard basic pumps.

Reverse circulation pumps capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into nuclear energy industry, oil & gas, chemical industry, HVAC industry.

Canned motor pumps market players cover segment as chemical industry will dominate the market share during forecast period.

Driving Factors

"Increase In Demand For Chemical Industries To Boost The Market Growth"

Rising importance on reducing environmental impact, the low maintenance cost compared to other pumps and the rising demand in the chemical industry are expanding the market. Canned motor pumps offer reliability and extended service life both of which are crucial for the chemical industry. Canned motor pumps are projected to easily handle toxic liquids which makes them a vigorous constituent of the chemical industry infrastructure. 

"Constant Advancement And Improvement To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the canned motor pumps market growth. Increasing demand for reliable and energy efficient pumps from end use industries and rise in R&D investments to create advanced canned motor pump technologies are driving the market expansion. Growing investment in industrial facilities and expanding demand for advanced canned motor pumps are likely to boost the market.

Restraining Factor

"High Cost Of Maintenance To Hamper The Market Growth"

High cost is hampering development of canned motor pumps market. High cost of energy efficient canned motor pumps and the fluctuating raw material prices are impending market expansion. It hinders entry for some potential clients mostly those in developing economies or with controlled capital investment resources.

canned motor pumps market Regional Insights

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"North America To Dominate The Region Due To Increasing Investments In Infrastructure Development"

North America is further expected to witness growth in the canned motor pumps market share. The region is dominating the market due to increasing investments in infrastructure development and industrialization in rising economies. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key Players Focus On Partnerships To Gain Competitive Advantage."

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Shinhoo (China)
• Nikkiso (Japan)
• Kirloskar Brothers (India)
• Hayward Tyler (U.K.)
• Harbin Electric Corporation (China)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.