Leak Free Magnetic Drive Pumps Market
Leak-Free Magnetic Drive Pumps Market Forecasts to 2030 - Global Analysis By Type (Canned Motor Pumps, Centrifugal Magnetic Drive Pumps, Diaphragm Magnetic Drive Pumps and Other Types), By Application (Agriculture and Irrigation, Chemical Processing, Food Processing and Other Applications) and By Geography
|
Years Covered |
2021-2030 |
|
CAGR (2023-2030) |
8.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Leak-Free Magnetic Drive Pumps Market is growing at a CAGR of 8.2% during the forecast period. Leak-free magnetic drive pumps utilize a magnetic coupling to transfer torque, eliminating the need for traditional shaft seals. This design prevents fluid leakage, ensuring a secure, hermetic seal between the motor and impeller. By employing magnetic force to transmit power without physical contact, these pumps offer enhanced safety, reliability, and efficiency, making them ideal for handling corrosive, hazardous fluids in industries requiring leak-proof fluid transfer systems.
According to the BP Statistical Review of World Energy 2022, the total global natural production reached around 4,036.9 billion cubic meters (bcm) in 2021, recording a 4.5% rise from the 3,861.5 bcm recorded in 2020 and around a 15% increase from 2015.
Market Dynamics:
Driver:
Rising demand in chemical processing
The rising demand in chemical processing acts as a significant driver in the growth of leak-free magnetic drive pumps. These pumps offer a crucial solution by ensuring leak-free operation, vital in handling corrosive, volatile, or hazardous chemicals. With stringent safety and environmental regulations in the chemical industry, these pumps prevent leaks, mitigating the risks of contamination and ensuring operational safety. Moreover, their ability to handle aggressive fluids without leakage aligns with the industry's need for reliable, efficient, and safe fluid transfer systems, leading to increased adoption.
Restraint:
Intricate design and reliance on magnetic coupling
The intricate design and reliance on magnetic coupling often translate to higher manufacturing and maintenance costs, limiting widespread adoption. Additionally, specialized expertise is often required for installation and maintenance due to the unique design, potentially increasing operational complexities. Moreover, dependency on magnetic coupling also poses challenges in handling high-capacity or extreme-environment applications, constraining the pump's versatility.
Opportunity:
Expansion in energy and power generation
The expansion in energy and power generation presents a significant opportunity in the market. These pumps, known for their reliability and ability to handle corrosive or hazardous fluids, align perfectly with the stringent requirements of power generation facilities. With a growing focus on safety and environmental concerns in energy production, leak-free pumps offer a reliable solution to prevent fluid leaks and ensure operational integrity. As renewable energy sectors like solar and wind power expand, the need for safe and efficient fluid transfer systems in cooling, lubrication and chemical handling enhances the market's potential for magnetic drive pumps.
Threat:
Limited availability
The specialized nature of these pumps, coupled with the need for specific materials and expertise, can restrict their widespread availability. Industries relying on these pumps, such as chemical processing or pharmaceuticals face challenges in sourcing, making repairs or obtaining replacement parts promptly. This limitation could hinder operations, leading to downtime and increased maintenance costs. Furthermore, in regions lacking access to specialized expertise or where the infrastructure for servicing these pumps is limited, industries may face hurdles in adopting or maintaining these systems effectively.
Covid-19 Impact:
The COVID-19 pandemic initially slowed demand for market is due to the disruptions in industrial activities. However, the crisis highlighted the importance of safe and reliable fluid transfer systems in critical industries like healthcare, pharmaceuticals, and chemical processing. As these sectors prioritize safety and operational resilience, the market for leak-free magnetic drive pumps is witnessing a gradual rebound driven by increased emphasis on secure and efficient fluid handling solutions.
The canned motor pumps segment is expected to be the largest during the forecast period
The canned motor pumps segment is poised to dominate the market due to its hermetically sealed design, ensuring complete isolation of the pumped fluid. This unique construction eliminates the need for shaft seals, providing unparalleled leak-proof performance crucial in handling corrosive, toxic, or hazardous fluids. Industries like chemicals, pharmaceuticals, and oil and gas prioritize safety and reliability, driving the demand for these pumps. Additionally, their ability to prevent leaks, enhance safety and maintain fluid purity positions this segment in a dominant position in the market.
The agriculture and irrigation segment is expected to have the highest CAGR during the forecast period
The agriculture and irrigation segment is anticipated to witness the highest growth rate in the market due to an increased focus on efficient water management. These pumps offer precise fluid handling, delivering agrochemicals and fertilizers while preventing leaks that could harm soil or water sources. With agriculture seeking sustainable and precise solutions for crop production, these pumps cater to the need for controlled dosing, reducing waste and environmental impact. As modern farming emphasizes productivity with minimal resource use, the adoption of leak-free magnetic drive pumps in agriculture and irrigation is projected to surge.
Region with largest share:
North America is positioned to lead the market due to stringent industrial regulations and a strong emphasis on safety across sectors like chemicals, pharmaceuticals and energy. The region's robust manufacturing base, technological advancements and focus on sustainable practices drive the adoption of leak-free pumps for handling hazardous fluids. Additionally, the presence of key market players contributes to North America's dominance.
Region with highest CAGR:
The Asia Pacific region is expected to register substantial growth in the market due to burgeoning industrial activities and increasing adoption of advanced technologies. Rapid industrialization, particularly in sectors like chemicals, pharmaceuticals, and manufacturing, drives the demand for reliable, leak-free fluid transfer systems. Additionally, the region's focus on stringent safety standards and environmental regulations further propels the uptake of these pumps. With expanding investments in infrastructure and a growing emphasis on operational efficiency, the Asia Pacific region is poised for significant growth and adoption across diverse industries.
Key players in the market
Some of the key players in Leak-Free Magnetic Drive Pumps Market include CP Pumpen AG, Dickow Pumpen KG, Finish Thompson Inc., HERMETIC-Pumpen GmbH, Iwaki America Inc., Klaus Union GmbH & Co. KG, Little Giant Pumps, March Manufacturing Inc., March May Ltd., Micropump Inc., Richter Chemie-Technik GmbH, Sundyne Corporation, Teikoku USA Inc., TeraPump Ltd. and Valex Corporation.
Key Developments:
In August 2023, Micropump is pleased to announce that they have joined in a new partnership with CEME Group. This collaboration is part of a strategy to create a stronger international group specialized in fluid control systems and provide customers with a complete range of products and solutions from solenoid valves to rotary vane, gear and special pumps. This acquisition will allow for Micropump and CEME Group to reinforce its global presence and is expected to offer exciting opportunities of growth in strategic market segments by combining Micropump’s technology and know-how and CEME’s assets and industrial footprint.
In March 2023, Sundyne, a global leader in the design and manufacture of pumps and compressors for hydrogen applications, today announced that it has joined the California Hydrogen Business Council (CHBC).
Types Covered:
• Canned Motor Pumps
• Centrifugal Magnetic Drive Pumps
• Diaphragm Magnetic Drive Pumps
• Gear Magnetic Drive Pumps
• Mixed Flow and Axial Flow Magnetic Drive Pumps
• Other Types
Applications Covered:
• Agriculture and Irrigation
• Chemical Processing
• Food Processing
• Mining
• Oil and Gas
• Surface Treatment
• Textile
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Leak-Free Magnetic Drive Pumps Market, By Type
5.1 Introduction
5.2 Canned Motor Pumps
5.3 Centrifugal Magnetic Drive Pumps
5.4 Diaphragm Magnetic Drive Pumps
5.5 Gear Magnetic Drive Pumps
5.6 Mixed Flow and Axial Flow Magnetic Drive Pumps
5.7 Other Types
6 Global Leak-Free Magnetic Drive Pumps Market, By Application
6.1 Introduction
6.2 Agriculture and Irrigation
6.3 Chemical Processing
6.4 Food Processing
6.5 Mining
6.6 Oil and Gas
6.7 Surface Treatment
6.8 Textile
6.9 Other Applications
7 Global Leak-Free Magnetic Drive Pumps Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 CP Pumpen AG
9.2 Dickow Pumpen KG
9.3 Finish Thompson Inc.
9.4 HERMETIC-Pumpen GmbH
9.5 Iwaki America Inc.
9.6 Klaus Union GmbH & Co. KG
9.7 Little Giant Pumps
9.8 March Manufacturing Inc.
9.9 March May Ltd.
9.10 Micropump Inc.
9.11 Richter Chemie-Technik GmbH
9.12 Sundyne Corporation
9.13 Teikoku USA Inc.
9.14 TeraPump Ltd.
9.15 Valex Corporation
List of Tables
1 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Region (2021-2030) ($MN)
2 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
3 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Canned Motor Pumps (2021-2030) ($MN)
4 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Centrifugal Magnetic Drive Pumps (2021-2030) ($MN)
5 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Diaphragm Magnetic Drive Pumps (2021-2030) ($MN)
6 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Gear Magnetic Drive Pumps (2021-2030) ($MN)
7 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Mixed Flow and Axial Flow Magnetic Drive Pumps (2021-2030) ($MN)
8 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
9 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
10 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Agriculture and Irrigation (2021-2030) ($MN)
11 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
12 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
13 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Mining (2021-2030) ($MN)
14 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
15 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Surface Treatment (2021-2030) ($MN)
16 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Textile (2021-2030) ($MN)
17 Global Leak-Free Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
18 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Country (2021-2030) ($MN)
19 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
20 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Canned Motor Pumps (2021-2030) ($MN)
21 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Centrifugal Magnetic Drive Pumps (2021-2030) ($MN)
22 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Diaphragm Magnetic Drive Pumps (2021-2030) ($MN)
23 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Gear Magnetic Drive Pumps (2021-2030) ($MN)
24 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Mixed Flow and Axial Flow Magnetic Drive Pumps (2021-2030) ($MN)
25 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
26 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
27 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Agriculture and Irrigation (2021-2030) ($MN)
28 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
29 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
30 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Mining (2021-2030) ($MN)
31 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
32 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Surface Treatment (2021-2030) ($MN)
33 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Textile (2021-2030) ($MN)
34 North America Leak-Free Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
35 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Country (2021-2030) ($MN)
36 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
37 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Canned Motor Pumps (2021-2030) ($MN)
38 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Centrifugal Magnetic Drive Pumps (2021-2030) ($MN)
39 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Diaphragm Magnetic Drive Pumps (2021-2030) ($MN)
40 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Gear Magnetic Drive Pumps (2021-2030) ($MN)
41 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Mixed Flow and Axial Flow Magnetic Drive Pumps (2021-2030) ($MN)
42 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
43 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
44 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Agriculture and Irrigation (2021-2030) ($MN)
45 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
46 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
47 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Mining (2021-2030) ($MN)
48 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
49 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Surface Treatment (2021-2030) ($MN)
50 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Textile (2021-2030) ($MN)
51 Europe Leak-Free Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
52 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Country (2021-2030) ($MN)
53 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
54 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Canned Motor Pumps (2021-2030) ($MN)
55 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Centrifugal Magnetic Drive Pumps (2021-2030) ($MN)
56 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Diaphragm Magnetic Drive Pumps (2021-2030) ($MN)
57 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Gear Magnetic Drive Pumps (2021-2030) ($MN)
58 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Mixed Flow and Axial Flow Magnetic Drive Pumps (2021-2030) ($MN)
59 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
60 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
61 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Agriculture and Irrigation (2021-2030) ($MN)
62 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
63 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
64 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Mining (2021-2030) ($MN)
65 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
66 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Surface Treatment (2021-2030) ($MN)
67 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Textile (2021-2030) ($MN)
68 Asia Pacific Leak-Free Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
69 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Country (2021-2030) ($MN)
70 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
71 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Canned Motor Pumps (2021-2030) ($MN)
72 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Centrifugal Magnetic Drive Pumps (2021-2030) ($MN)
73 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Diaphragm Magnetic Drive Pumps (2021-2030) ($MN)
74 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Gear Magnetic Drive Pumps (2021-2030) ($MN)
75 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Mixed Flow and Axial Flow Magnetic Drive Pumps (2021-2030) ($MN)
76 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
77 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
78 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Agriculture and Irrigation (2021-2030) ($MN)
79 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
80 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
81 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Mining (2021-2030) ($MN)
82 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
83 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Surface Treatment (2021-2030) ($MN)
84 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Textile (2021-2030) ($MN)
85 South America Leak-Free Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
86 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Country (2021-2030) ($MN)
87 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
88 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Canned Motor Pumps (2021-2030) ($MN)
89 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Centrifugal Magnetic Drive Pumps (2021-2030) ($MN)
90 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Diaphragm Magnetic Drive Pumps (2021-2030) ($MN)
91 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Gear Magnetic Drive Pumps (2021-2030) ($MN)
92 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Mixed Flow and Axial Flow Magnetic Drive Pumps (2021-2030) ($MN)
93 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
94 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
95 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Agriculture and Irrigation (2021-2030) ($MN)
96 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
97 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
98 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Mining (2021-2030) ($MN)
99 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
100 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Surface Treatment (2021-2030) ($MN)
101 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Textile (2021-2030) ($MN)
102 Middle East & Africa Leak-Free Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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