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LRVP Market will Procure US$ 2,871.3 Million 2024 : Persistence Market Research

Liquid Ring Vacuum Pumps Market

Liquid Ring Vacuum Pumps Market

“Global LRVP market will witness promising growth in the first half of the forecast period (5.5% CAGR), which will incur a slight dip post-2020, (4.9% CAGR). However, the overall CAGR of the market estimated for 2016-2024 is estimated at 5.2%.”

– Research Analyst, Industrial Automation Domain, Persistence Market Research

According to “Global Liquid Ring Vacuum Pumps Market Industry Analysis and Forecast 2016-2024,” the global liquid ring vacuum pumps market will reach US$ 2,871.3 Mn by the end of the forecast period.

Sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/12991

Regional analysis indicates that the US$ 535 Mn North American market will rule the roost with an estimated 6% CAGR over 2016-2024. Towards the close of 2024, this region is expected to attain revenues worth US$ 851.1 Mn. Latin America, Europe, and Asia Pacific are identified to be the next key markets for LRVP. North America, Europe, and APAC will collectively hold a whopping 75% share of the total market size in 2024.

In developing economies within Asia Pacific, leading LRVP manufacturers are tackling the competitive pricing issue in order to deliver customer-centric products. Moreover, China and India host a swelling number of small manufacturers specifically serving pharma and chemical process industries. These factors will play a vital role in pushing the sales of liquid ring vacuum pumps in near future within Asian markets. Reaching a value beyond US$ 504 Mn, APAC market is likely to expand at a moderate CAGR of 5.3% over 2016-2024.

Segment analysis: Consumption by oil & gas segment crossing US$ 931 Mn by 2024

In terms of capacity, 500-1500 cfm segment will continue to lead with the maximum revenue sales, followed by < 500 cfm segment. However, < 500 cfm segment will possibly thrive fastest at a CAGR of 5.2%, followed by > 1500 cfm segment with an estimated 4.4% CAGR over 2016-2024.

Considering material type, cast iron segment will continue dominance with over 60% value share, reaching a value of US$ 1,718.2 Mn in 2024. This segment will also demonstrate the fastest CAGR of 5.3% over the forecast period. Stainless steel segment will also grow moderately at 5%, attaining a value worth US$ 876 Mn in 2024.

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Based on the end-use industry, oil and gas sector will retain dominance over others, with over US$ 931 Mn by the end of 2024 in terms of revenues. Chemical processing and general process industries will continue to maintain the second and third largest segments respectively. Among these, general process industries will display a higher CAGR of 5.8% over 2016-2024, bagging the revenues of over US$ 511 Mn. Paper and pulp, and power segments are expected to grow steadily throughout the assessment period.

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Report analyzes the key company profiles

Dekker Vacuum Technologies Inc., Busch Vacuum Technics Inc., Flowserve Corporation, Tsurumi Manufacturing Co., Ltd., Atlas Copco Airpower N.V., Gardner Denver Nash LLC, Tuthill Vacuum & Blower Systems, and Graham Corp. are some of the key players that constitute the competitive landscape of the global liquid ring vacuum pumps marketplace. Persistence Market Research’s report includes in-depth profiling of key companies.

About Us

Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients business needs.

PMR stands committed to bringing more accuracy and speed to clients business decisions. From ready-to-purchase market research reports to customized research solutions, PMRs engagement models are highly flexible without compromising on its deep-seated research values.

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