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(IT-NEWSWIRE.COM, February 13, 2023 ) The global Liquid Ring Vacuum Pumps Market size is estimated to be USD 1,082 million in 2021 and is projected to reach USD 1,412 million by 2026; it is expected to grow at a CAGR of 5.5% from 2021 to 2026. The increasing global energy consumption is aiding to the growth of the liquid ring vacuum pumps market.
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Based on type, the Liquid Ring Vacuum Pumps Market has been segmented into single-stage and two-stage. The two-stage segment accounted for the largest share of the market, in terms of value, in 2020. This is majorly due to the increasing demand for two-stage liquid ring vacuum pumps across several industries such as oil & gas, water & wastewater, and power generation.
Based on material type, the stainless steel segment accounted for the largest market share, in terms of value, in 2020. The high corrosion resistance of the material is driving the growth of this segment. Stainless steel has a longer life and low maintenance than cast iron. Liquid ring vacuum pumps made from stainless steel are used in various applications such as pharmaceutical, food manufacturing, oil & gas, and power generation.
Based on application, the liquid ring vacuum pumps market is segmented as petrochemical, chemical, oil & gas, pulp & paper, water treatment, food manufacturing, power generation, automobile, aircraft, EPS and plastics, and others. The oil & gas segment led the global market, accounting for the largest share in 2020 in terms of value. This segment is growing due to continuing developments in high crude oil-producing regions/countries such as the Middle East, North America, and Russia.
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Browse And In-Depth TOC On "Liquid Ring Vacuum Pumps Market”
156 - Market Data Tables
56 - Figures
218 - Pages
Based on region, Asia pacific is estimated to account for the largest market share in 2020, in terms of value. The market in this region is dominated by China. The growth of the market in Asia Pacific can be attributed to rapid economic expansion. Moreover, the region has emerged as one of the leading consumers of liquid ring vacuum pumps, owing to the rising domestic demand, growing income levels, and easy access to resources.
The key market players include Busch Vacuum Solutions (Germany), Flowserve Corporation (US), Atlas Copco (Sweden), Ingersoll Rand (US), Tsurumi Manufacturing Co., Ltd (US), DEKKER Vacuum Technologies, Inc. (US), Vooner (US), Graham Corporation (US), Cutes Corp. (China), Zibo Zhaohan Vacuum Pump Co., Ltd (China), OMEL (Brazil), PPI Pumps Pvt. Ltd. (Mexico), Samson Pumps (Denmark), and Speck (Germany). These players have adopted product launches, agreements, acquisitions, mergers & acquisitions, and expansions as their growth strategies.
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