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.
Rise in Energy Consumption
Low Maintenance and Operational Cost
Gas Transportation Sector Gaining Momentum
Declining Lng Imports in Japan and South Korea
Rising Issues Regarding Water Conservation
Growing Demand for Environment-Friendly Compressors
Industrialization in Emerging Economies to Increase Demand for Liquid Ring Vacuum Pumps and Compressors
Adherence to Strict Quality Standards
Impact of COVID-19 on the Market for Liquid Ring Vacuum Pumps and Compressors
Busch Vacuum Solutions
Dekker Vacuum Technologies, Inc.
Guangdong Kenflo Pump Limited
Hobei Tonfun High-Tech Pump Co., Ltd.
Ppi Pumps Pvt. Ltd.
Shandong Bozhong Vacuum Technology Co., Ltd.
Shandong Chinco Pumps Co., Ltd.
Tsurumi Manufacturing Co., Ltd.
Yantai Volm Vacuum Technology Co., Ltd.
Zibo Zhaohan Vacuum Pump Co., Ltd
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