Magnetic Drive Pumps Market
Magnetic Drive Pumps Market Forecasts to 2030 - Global Analysis By Type (Rotating Shaft Magnetic Drive Pumps, Stationary Shaft Magnetic Drive Pumps and Other Types), By Material Type (Polypropylene, Ethylene Tetrafluoroethylene and Other Material Types), By Application (Chemical Processing, Food Processing, Oil and Gas and Other Applications) and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1.18 BN |
|
Projected Year Value (2030) |
US $2.15 BN |
|
CAGR (2023-2030) |
8.9% |
|
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 Magnetic Drive Pumps Market is accounted for $1.18 billion in 2023 and is expected to reach $2.15 billion by 2030 growing at a CAGR of 8.9% during the forecast period. Magnetic Drive Pumps utilize magnetic couplings to transfer torque from a motor to an impeller without physical contact, preventing leaks. This seal-less design ensures containment of hazardous or corrosive fluids in industries like chemicals, pharmaceuticals, and water treatment. The magnetic coupling eliminates the need for traditional shaft seals, offering a leak-free, reliable, and maintenance-friendly fluid transfer solution.
According to the Association of Southeast Asian Nations (ASEAN), the energy demand in this region has increased by 60% over the last 15 years due to rapid urbanization.
Market Dynamics:
Driver:
Increasing demand in chemical industry
Chemical production is surging globally, so there's a pressing need for secure and leak-free fluid handling systems. Magnetic drive pumps offer a seal-less design, which is crucial for containing hazardous and corrosive chemicals. Stringent safety regulations propel the adoption of these pumps, ensuring environmental protection and workplace safety. With industries prioritizing containment, reliability, and operational efficiency, the chemical sector's expanding demand for magnetic drive pumps emerges as a significant driver, catering to stringent fluid handling requirements and reinforcing the market's growth.
Restraint:
Limited capacity for high pressures
The limited capacity for high pressures serves as a restraint due to their design constraints. While these pumps excel in seal-less, leak-free operation, their ability to handle extremely high pressures is restricted compared to mechanically sealed pumps. This limitation affects applications requiring exceptionally high pressure conditions, such as certain industrial processes or specialized fluid systems, posing a limitation on their applicability in such high-pressure environments.
Opportunity:
Expanding petrochemical sector
As the petrochemical sector continues to grow globally, the demand for reliable and leak-free fluid handling solutions intensifies. Magnetic Drive Pumps, renowned for their seal-less design and ability to handle corrosive and hazardous fluids, align perfectly with the stringent safety and containment requirements of petrochemical processes. The emphasis on preventing leaks and ensuring environmental safety in petrochemical operations positions magnetic drive pumps as essential equipment. This sector's expansion offers a ripe opportunity for the market to provide efficient, compliant and high-performance fluid transfer solutions, fostering growth.
Threat:
Risk of overheating
These pumps often rely on the transfer of torque through magnetic coupling, generating heat during operation. If not adequately managed, this heat buildup can compromise the pump's performance, leading to inefficiencies, reduced lifespans or even catastrophic failures. Additionally, overheating can impact the materials used in the pump's construction, causing degradation and sealing capabilities. Furthermore, excessive heat might also affect the magnets' properties, diminishing their magnetic strength and disrupting the coupling mechanism.
Covid-19 Impact:
The COVID-19 pandemic temporarily disrupted the market, causing supply chain challenges and project delays due to lockdowns and restrictions. However, the market demonstrated resilience with the increasing need for reliable and leak-free fluid handling solutions in critical sectors such as pharmaceuticals and chemicals. As industries recover and prioritize operational efficiency, the market is expected to rebound.
The rotating shaft magnetic drive pumps segment is expected to be the largest during the forecast period
The rotating shaft magnetic drive pumps segment is projected to lead the market due to its pivotal design, which enables leak-free fluid transfer by utilizing magnetic force. Its seal-less construction ensures reliability and safety in handling corrosive, hazardous fluids across industries. This segment's versatility and efficiency in preventing leaks align with stringent industry regulations, driving its adoption. As industries increasingly prioritize containment, safety and operational efficiency, the reliability and widespread applicability of rotating shaft magnetic drive pumps position them as the foremost choice.
The pharmaceuticals segment is expected to have the highest CAGR during the forecast period
The pharmaceutical segment is projected to witness a high growth rate in the market, underpinned by stringent demands for safety, purity, and precise fluid handling in drug manufacturing. Magnetic Drive Pumps offer hermetically sealed, leak-free operations crucial for maintaining sterile conditions, preventing contamination, and handling sensitive pharmaceutical fluids. With the pharmaceutical industry's continuous advancements, including biopharmaceuticals and specialty drugs, the demand for reliable, seal-less pumps for precise dosage, transfer, and processing of pharmaceutical fluids drives the segment's accelerated growth.
Region with largest share:
Over the forecast period, North America is expected to lead the market due to the region's robust industrial infrastructure, particularly in chemical processing and pharmaceuticals. Additionally, the region's emphasis on technological advancements and stringent safety standards aligns with the benefits offered by magnetic drive technology. With a flourishing manufacturing sector and a commitment to innovation, North America is expected to exhibit substantial market growth, solidifying its leadership position in the magnetic drive pumps market.
Region with highest CAGR:
The Asia Pacific region is estimated to witness significant growth in the market over the forecast period due to escalating industrial activities, particularly in the chemical and manufacturing sectors. Rapid urbanization, increasing investments in infrastructure and stringent regulations driving the adoption of leak-free and environmentally compliant fluid handling solutions contribute to this growth. As the region undergoes industrial expansion, the demand for magnetic drive pumps, is expected to surge.
Key players in the market
Some of the key players in Magnetic Drive Pumps Market include CDR Pumps, CP Pumpen AG, Finish Thompson Inc., Flux-Geräte GmbH, Hayward Industrial Products, Inc., IDEX Corporation, Klaus Union, KNF Neuberger Inc., March Manufacturing Inc., Micropump Inc., Oberdorfer Pumps Inc., Richter Chemie-Technik GmbH, Sundyne Corporation and Teikoku USA Inc.
Key Developments:
In May 2023, IDEX Corporation announced that it has completed its previously-announced acquisition of Iridian Spectral Technologies (“Iridian”), a global leader in designing and manufacturing thin-film, multi-layer optical filters.
In March 2022, IDEX Corporation announced that it has completed its previously-announced acquisition of KZValve, LLC, bolstering IDEX’s expertise in providing critical solutions for agriculture and industrial applications.
Types Covered:
• Rotating Shaft Magnetic Drive Pumps
• Stationary Shaft Magnetic Drive Pumps
• Other Types
Material Types Covered:
• Polypropylene
• Ethylene Tetrafluoroethylene
• Nickel Alloys
• Perfluoroalkoxy Polymer
• Polyvinylidene Fluoride
• Stainless Steel
Applications Covered:
• Chemical Processing
• Food Processing
• Oil and Gas
• Pharmaceuticals
• Water Treatment
• 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 Magnetic Drive Pumps Market, By Type
5.1 Introduction
5.2 Rotating Shaft Magnetic Drive Pumps
5.3 Stationary Shaft Magnetic Drive Pumps
5.4 Other Types
6 Global Magnetic Drive Pumps Market, By Material Type
6.1 Introduction
6.2 Polypropylene
6.3 Ethylene Tetrafluoroethylene
6.4 Nickel Alloys
6.5 Perfluoroalkoxy Polymer
6.6 Polyvinylidene Fluoride
6.7 Stainless Steel
7 Global Magnetic Drive Pumps Market, By Application
7.1 Introduction
7.2 Chemical Processing
7.3 Food Processing
7.4 Oil and Gas
7.5 Pharmaceuticals
7.6 Water Treatment
7.7 Other Applications
8 Global Magnetic Drive Pumps Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 CDR Pumps
10.2 CP Pumpen AG
10.3 Finish Thompson Inc.
10.4 Flux-Geräte GmbH
10.5 Hayward Industrial Products, Inc.
10.6 IDEX Corporation
10.7 Klaus Union
10.8 KNF Neuberger Inc.
10.9 March Manufacturing Inc.
10.10 Micropump Inc.
10.11 Oberdorfer Pumps Inc.
10.12 Richter Chemie-Technik GmbH
10.13 Sundyne Corporation
10.14 Teikoku USA Inc.
List of Tables
1 Global Magnetic Drive Pumps Market Outlook, By Region (2021-2030) ($MN)
2 Global Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
3 Global Magnetic Drive Pumps Market Outlook, By Rotating Shaft Magnetic Drive Pumps (2021-2030) ($MN)
4 Global Magnetic Drive Pumps Market Outlook, By Stationary Shaft Magnetic Drive Pumps (2021-2030) ($MN)
5 Global Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Magnetic Drive Pumps Market Outlook, By Material Type (2021-2030) ($MN)
7 Global Magnetic Drive Pumps Market Outlook, By Polypropylene (2021-2030) ($MN)
8 Global Magnetic Drive Pumps Market Outlook, By Ethylene Tetrafluoroethylene (2021-2030) ($MN)
9 Global Magnetic Drive Pumps Market Outlook, By Nickel Alloys (2021-2030) ($MN)
10 Global Magnetic Drive Pumps Market Outlook, By Perfluoroalkoxy Polymer (2021-2030) ($MN)
11 Global Magnetic Drive Pumps Market Outlook, By Polyvinylidene Fluoride (2021-2030) ($MN)
12 Global Magnetic Drive Pumps Market Outlook, By Stainless Steel (2021-2030) ($MN)
13 Global Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
14 Global Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
15 Global Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
16 Global Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
17 Global Magnetic Drive Pumps Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
18 Global Magnetic Drive Pumps Market Outlook, By Water Treatment (2021-2030) ($MN)
19 Global Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
20 North America Magnetic Drive Pumps Market Outlook, By Country (2021-2030) ($MN)
21 North America Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
22 North America Magnetic Drive Pumps Market Outlook, By Rotating Shaft Magnetic Drive Pumps (2021-2030) ($MN)
23 North America Magnetic Drive Pumps Market Outlook, By Stationary Shaft Magnetic Drive Pumps (2021-2030) ($MN)
24 North America Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
25 North America Magnetic Drive Pumps Market Outlook, By Material Type (2021-2030) ($MN)
26 North America Magnetic Drive Pumps Market Outlook, By Polypropylene (2021-2030) ($MN)
27 North America Magnetic Drive Pumps Market Outlook, By Ethylene Tetrafluoroethylene (2021-2030) ($MN)
28 North America Magnetic Drive Pumps Market Outlook, By Nickel Alloys (2021-2030) ($MN)
29 North America Magnetic Drive Pumps Market Outlook, By Perfluoroalkoxy Polymer (2021-2030) ($MN)
30 North America Magnetic Drive Pumps Market Outlook, By Polyvinylidene Fluoride (2021-2030) ($MN)
31 North America Magnetic Drive Pumps Market Outlook, By Stainless Steel (2021-2030) ($MN)
32 North America Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
33 North America Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
34 North America Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
35 North America Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
36 North America Magnetic Drive Pumps Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
37 North America Magnetic Drive Pumps Market Outlook, By Water Treatment (2021-2030) ($MN)
38 North America Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
39 Europe Magnetic Drive Pumps Market Outlook, By Country (2021-2030) ($MN)
40 Europe Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
41 Europe Magnetic Drive Pumps Market Outlook, By Rotating Shaft Magnetic Drive Pumps (2021-2030) ($MN)
42 Europe Magnetic Drive Pumps Market Outlook, By Stationary Shaft Magnetic Drive Pumps (2021-2030) ($MN)
43 Europe Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
44 Europe Magnetic Drive Pumps Market Outlook, By Material Type (2021-2030) ($MN)
45 Europe Magnetic Drive Pumps Market Outlook, By Polypropylene (2021-2030) ($MN)
46 Europe Magnetic Drive Pumps Market Outlook, By Ethylene Tetrafluoroethylene (2021-2030) ($MN)
47 Europe Magnetic Drive Pumps Market Outlook, By Nickel Alloys (2021-2030) ($MN)
48 Europe Magnetic Drive Pumps Market Outlook, By Perfluoroalkoxy Polymer (2021-2030) ($MN)
49 Europe Magnetic Drive Pumps Market Outlook, By Polyvinylidene Fluoride (2021-2030) ($MN)
50 Europe Magnetic Drive Pumps Market Outlook, By Stainless Steel (2021-2030) ($MN)
51 Europe Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
52 Europe Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
53 Europe Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
54 Europe Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
55 Europe Magnetic Drive Pumps Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
56 Europe Magnetic Drive Pumps Market Outlook, By Water Treatment (2021-2030) ($MN)
57 Europe Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
58 Asia Pacific Magnetic Drive Pumps Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
60 Asia Pacific Magnetic Drive Pumps Market Outlook, By Rotating Shaft Magnetic Drive Pumps (2021-2030) ($MN)
61 Asia Pacific Magnetic Drive Pumps Market Outlook, By Stationary Shaft Magnetic Drive Pumps (2021-2030) ($MN)
62 Asia Pacific Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
63 Asia Pacific Magnetic Drive Pumps Market Outlook, By Material Type (2021-2030) ($MN)
64 Asia Pacific Magnetic Drive Pumps Market Outlook, By Polypropylene (2021-2030) ($MN)
65 Asia Pacific Magnetic Drive Pumps Market Outlook, By Ethylene Tetrafluoroethylene (2021-2030) ($MN)
66 Asia Pacific Magnetic Drive Pumps Market Outlook, By Nickel Alloys (2021-2030) ($MN)
67 Asia Pacific Magnetic Drive Pumps Market Outlook, By Perfluoroalkoxy Polymer (2021-2030) ($MN)
68 Asia Pacific Magnetic Drive Pumps Market Outlook, By Polyvinylidene Fluoride (2021-2030) ($MN)
69 Asia Pacific Magnetic Drive Pumps Market Outlook, By Stainless Steel (2021-2030) ($MN)
70 Asia Pacific Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
71 Asia Pacific Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
72 Asia Pacific Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
73 Asia Pacific Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
74 Asia Pacific Magnetic Drive Pumps Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
75 Asia Pacific Magnetic Drive Pumps Market Outlook, By Water Treatment (2021-2030) ($MN)
76 Asia Pacific Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
77 South America Magnetic Drive Pumps Market Outlook, By Country (2021-2030) ($MN)
78 South America Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
79 South America Magnetic Drive Pumps Market Outlook, By Rotating Shaft Magnetic Drive Pumps (2021-2030) ($MN)
80 South America Magnetic Drive Pumps Market Outlook, By Stationary Shaft Magnetic Drive Pumps (2021-2030) ($MN)
81 South America Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
82 South America Magnetic Drive Pumps Market Outlook, By Material Type (2021-2030) ($MN)
83 South America Magnetic Drive Pumps Market Outlook, By Polypropylene (2021-2030) ($MN)
84 South America Magnetic Drive Pumps Market Outlook, By Ethylene Tetrafluoroethylene (2021-2030) ($MN)
85 South America Magnetic Drive Pumps Market Outlook, By Nickel Alloys (2021-2030) ($MN)
86 South America Magnetic Drive Pumps Market Outlook, By Perfluoroalkoxy Polymer (2021-2030) ($MN)
87 South America Magnetic Drive Pumps Market Outlook, By Polyvinylidene Fluoride (2021-2030) ($MN)
88 South America Magnetic Drive Pumps Market Outlook, By Stainless Steel (2021-2030) ($MN)
89 South America Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
90 South America Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
91 South America Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
92 South America Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
93 South America Magnetic Drive Pumps Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
94 South America Magnetic Drive Pumps Market Outlook, By Water Treatment (2021-2030) ($MN)
95 South America Magnetic Drive Pumps Market Outlook, By Other Applications (2021-2030) ($MN)
96 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Country (2021-2030) ($MN)
97 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Type (2021-2030) ($MN)
98 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Rotating Shaft Magnetic Drive Pumps (2021-2030) ($MN)
99 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Stationary Shaft Magnetic Drive Pumps (2021-2030) ($MN)
100 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Other Types (2021-2030) ($MN)
101 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Material Type (2021-2030) ($MN)
102 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Polypropylene (2021-2030) ($MN)
103 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Ethylene Tetrafluoroethylene (2021-2030) ($MN)
104 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Nickel Alloys (2021-2030) ($MN)
105 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Perfluoroalkoxy Polymer (2021-2030) ($MN)
106 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Polyvinylidene Fluoride (2021-2030) ($MN)
107 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Stainless Steel (2021-2030) ($MN)
108 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Application (2021-2030) ($MN)
109 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Chemical Processing (2021-2030) ($MN)
110 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Food Processing (2021-2030) ($MN)
111 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Oil and Gas (2021-2030) ($MN)
112 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
113 Middle East & Africa Magnetic Drive Pumps Market Outlook, By Water Treatment (2021-2030) ($MN)
114 Middle East & Africa 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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