Press release
Liquid Ring Vacuum Pumps Market 2024-2033: Size, Share, and Scope Report
Liquid Ring Vacuum Pumps Global Market Report 2024
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According to The Business Research Company's, The liquid ring vacuum pumps market size has grown strongly in recent years. It will grow from $2.19 billion in 2023 to $2.4 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to growth in process industries such as chemical, pharmaceutical, and food & beverage, demand for vacuum pumps in power generation and petrochemical plants, need for efficient vapor and gas handling in industrial processes, expansion of environmental and water treatment applications, increased use of vacuum pumps in hvac systems and air conditioning.
The liquid ring vacuum pumps market size is expected to see strong growth in the next few years. It will grow to $3.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to transition towards energy-efficient and low-maintenance vacuum pumps, integration of iot and condition monitoring for predictive maintenance, focus on waste minimization and resource recovery in industries, demand for specialized pumps for hazardous and corrosive environments, expansion of vacuum technology in semiconductor and electronics manufacturing. Major trends in the forecast period include integration of smart sensors for condition monitoring, efforts towards noise reduction and quieter operation, focus on oil-free and contaminant-free vacuum systems, advanced pumping systems for semiconductor and electronics, development of atex-certified and intrinsically safe pumps.
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Market Drivers and Trends:
Rising investment in the oil and gas sectors is expected to propel the growth of liquid ring vacuum pumps. Investments in the oil and gas sector have increased, especially in the downstream sector, which drives the demand for liquid ring vacuum pumps. The vacuum pumps in the oil and gas sector are used for processes that include filling, filtration, cooling, crystallizing, distillation, deaeration of caustic solutions, solvent recovery, and many more. Global investment in new downstream oil refining and integrated chemicals capacity will average $55 billion per year to 2025, leading to global crude distillation unit (CDU) capacity increasing by 1.7% annually. These investments will lead to an increasing number of liquid ring vacuum markets. Therefore, the rising investments in the oil and gas sector are driving the growth of the liquid ring vacuum pumps market.
Product innovations are the key trend gaining popularity in the liquid ring vacuum pumps market. The key players operating in the liquid ring vacuum pumps market are developing innovative products to cope with humid and dusty environments and offer sustainable productivity. For instance, in May 2022, Atlas Copco, a Sweden-based industrial manufacturer announced the launch of the GHS 1402-2002 VSD+ series. The new product line provides enhanced performance, improved oil separation, a more compact design, and innovative controller technology. The GHS 1402-2002 VSD+ series is well-suited for demanding vacuum applications, making it an excellent choice for various uses such as thermoforming, food packaging, altitude simulation, woodworking lamination, clay extrusion, vacuum cooling, material handling applications like electronics pick and place, and industries like paper, canning, and woodworking.
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Major Key Players of the Market:
Atlas Copco Airpower N.V, Busch Vacuum Technics Inc., Dekker Vacuum Technologies Inc., Flowserve Corporation, Grаhаm Соrроrаtіоn, Gаrdnеr Dеnvеr, PPI Pumps Pvt. Ltd., Samson Pumps A / S, Schaft GmbH, Tsurumi Manufacturing Co. Ltd, Vooner FloGard Corporation, Zibo Zhaohan Vacuum Pump Co. Ltd, Gаѕt (ІDЕХ), Sаmѕоn Соrроrаtіоn., ULVAC Inc., Agilent Technologies Inc., Tuthill Vacuum & Blower Systems, Sterling SIHI GmbH, Pfeiffer Vacuum GmbH, Ebara Corporation, Edwards Limited, Kashiyama Industries Ltd., Kinney Vacuum Company Inc., Becker Pump Corporation, Elmo Rietschle, Pompetravaini S.p.A., Speck Pumpen Walter Speck GmbH & Co. KG, Robuschi S.p.A., Gardner Denver Holdings Inc., Sihi Group B.V.
Liquid Ring Vacuum Pumps Market 2024 Key Insights:
• The liquid ring vacuum pumps market size is expected to see strong growth in the next few years. It will grow to $3.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Surging Investment In Oil And Gas Industry Ignites Liquid Ring Vacuum Pump Market Growth
• Innovative Products Pave The Way For Growth In The Liquid Ring Vacuum Pump Market
• Asia-Pacific was the largest region in the liquid ring vacuum pumps market in 2023
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