The global canned motor pumps market is all set to register prodigious growth trajectory during the forecast period of 2019 to 2028. One of the key reasons driving the growth of this market is increased use of canned motor pumps in wide range of industries. HVAC, nuclear energy, oil and gas, and chemical are some of the key end-user industries of the global canned motor pumps market.
An upcoming research report from TMR on the global canned motor pumps market is intended to present comprehensive analysis of key elements supporting and hindering the market growth. In addition to this, the report gives detailed analysis of impact of COVID-19 on the overall growth of this market. The reliable data presented in this report works as a guide and give valuable insights of the canned motor pumps market for the forecast period of 2019–2028.
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Global Canned Motor Pumps Market: Growth Dynamics
The global canned motor pumps market is expected to show prominent growth on the back of rising demand from chemical and industrial sector. Vendors working in the market for canned motor pumps are growing their efforts to offer highly efficient products to the end-users. This factor will work as a driver and support market growth. High temperature pumps, standard pumps, liquid pumps, reverse circulation pumps, and multistage pumps are some of the products available in the market for canned motor pumps. Of them, the market is expected to witness rising demand for reverse circulation pumps in the forthcoming years.
While almost all industrial sectors are witnessing the burn of COVID-19 epidemic, pharmaceutical is one of the key sectors experiencing prominent sales opportunities during this epidemic. Thus, thriving pharmaceutical sector is supporting the growth of the global canned motor pumps market. Companies in all sectors are strategizing their moves to deal with the impact of COVID-19 epidemic and regain their businesses following the same. This factor assures that the global canned market will witness noteworthy growth avenues in the upcoming period.
Global Canned Motor Pumps Market: Competitive Analysis
The global canned motor pumps market is fairly consolidated in nature. With presence of major well-established players in it, the competitive landscape of the market for canned motor pumps is highly intense. Many vendors working in this market are executing diverse strategies to recuperate their sales after COVID-19 epidemic. For this purpose, they are focused on advancing the quality of products they offer. In addition to this, several enterprises are rolling out new products. All these activities connote that the canned motor pumps market will recuperate in couple of years and show noteworthy growth during forecast period of 2019 to 2028.
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The list of key players in the global canned motor pumps market includes:
- Curtiss-Wright Corporation
- Avingtrans Plc
- Dynamic Pumps & Projects Pvt Ltd
- Dalian Huanyou Canned Motor Pumps Co., Ltd.
- Kirloskar Brothers Limited (KBL)
- Harbin Electric Corporation Jiamusi Electric Machine CO., Ltd
Global Canned Motor Pumps Market: Regional Assessment
The global canned motor pumps market is spread across six key regions, namely, Europe, North America, Asia Pacific excluding Japan, Latin America, Japan, and Middle East and Africa. Of them, Asia Pacific is one of the prominent regions showing remarkable avenues for growth of the market for canned motor pumps during forecast period of 2019 to 2028. Key factor supporting this growth is presence of notably large end-user industries in Asia Pacific. Booming pharmaceutical industry in the region will drive the growth of the canned motor pumps market in the forthcoming years.