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Global Liquid Ring Vacuum Pumps Market (2021 to 2026) - Growing Demand for Environment-Friendly Compressors Presents Opportunities - ResearchAndMarkets.com

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DUBLIN, December 06, 2021--(BUSINESS WIRE)--The "Global Liquid Ring Vacuum Pumps Market by Type (Single-stage, Two-stage), Material Type (Stainless Steel, Cast Iron, Others), Flow Rate (25 - 600 M3H; 600 - 3,000 M3H; 3,000 - 10,000 M3H; Over 10,000 M3H), Application, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The liquid ring vacuum pumps market size was USD 1.8 billion in 2020 and is projected to reach USD 2.4 billion by 2026, at a CAGR of 5.5% from 2021 to 2026.

Increasing demand for liquid ring vacuum pumps for various applications in oil & gas and petroleum industry is driving the growth of this market.

Liquid ring vacuum pumps are rotary displacement machines, which includes a liquid ring vacuum pump and a liquid ring compressor. These pumps offer various advantages such as simple structure, and liquid-sealing, and isothermal compression process, and ease of handling. Owing to these advantages, liquid ring vacuum pumps are widely applied in petroleum, chemical, power, metallurgy, pharmaceutical, and light industries.

Two-stage segment is expected to dominate the liquid ring vacuum pumps market during 2021-2026

By type, the two-stage segment is projected to lead the market. This segment is growing owing to the rise in investments being made to carry out industrialization in the Asia Pacific region, along with the increased demand for two-stage liquid ring vacuum pumps across industries.

Stainless steel segment is expected to dominate the liquid ring vacuum pumps market, by material type, during the forecast period

Based on material type, the stainless steel segment is estimated to account for the largest share of the overall liquid ring vacuum pumps market, in terms of value, in 2020. Characteristics such as high cavitation resistance that enhances the life expectancy of liquid ring vacuum pump is expected to enhance the demand for stainless steel liquid ring vacuum pumps during the forecast period.

600-3000 m3/h segment is expected to dominate the liquid ring vacuum pumps market during 2021-2026

By flow rate, the 600-3000 m3/h segment accounted for the largest share of the market, in terms of value, in 2020. The liquid ring vacuum pumps with a flow rate of 600-3000 m3/h and 3,000-10,000 m3/h are considered medium capacity liquid ring vacuum pumps. Steadily growing demand for industrial vacuum applications, mainly from the chemical, pulp & paper, and power generation industries, is aiding in the growth of this segment.

Asia Pacific is expected to dominate the liquid ring vacuum pumps market during 2021-2026

Asia Pacific dominated the global liquid ring vacuum pumps market in 2020. Industrial activities are growing in this region owing to low manufacturing costs and support of local governments. Also, increasing investments in research and development activities are driving the liquid ring vacuum pumps market in Asia Pacific.

Market Dynamics

Drivers

  • Rise in Energy Consumption

  • Low Maintenance and Operational Cost

  • Gas Transportation Sector Gaining Momentum

Restraints

  • Declining Lng Imports in Japan and South Korea

  • Rising Issues Regarding Water Conservation

Opportunities

  • Growing Demand for Environment-Friendly Compressors

  • Industrialization in Emerging Economies to Increase Demand for Liquid Ring Vacuum Pumps and Compressors

Challenges

  • Adherence to Strict Quality Standards

  • Impact of COVID-19 on the Market for Liquid Ring Vacuum Pumps and Compressors

Companies Mentioned

  • Atlas Copco

  • Busch Vacuum Solutions

  • Cutes Corp.

  • Dekker Vacuum Technologies, Inc.

  • Finder Pumps

  • Flowserve Corporation

  • Garuda

  • Graham Corporation

  • Guangdong Kenflo Pump Limited

  • Hobei Tonfun High-Tech Pump Co., Ltd.

  • Imag

  • Ingersoll Rand

  • Kakati

  • Omel

  • Pompetravaini Spa

  • Ppi Pumps Pvt. Ltd.

  • Safem

  • Samson Pumps

  • Shandong Bozhong Vacuum Technology Co., Ltd.

  • Shandong Chinco Pumps Co., Ltd.

  • Somarakis

  • Speck

  • Tsurumi Manufacturing Co., Ltd.

  • Vooner

  • Yantai Volm Vacuum Technology Co., Ltd.

  • Zibo Zhaohan Vacuum Pump Co., Ltd

For more information about this report visit https://www.researchandmarkets.com/r/2d61du

View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005627/en/

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