Press release
Global Liquid Ring Vacuum Pumps Market to Reach $3.64 Billion by 2029, Growing at 0.0873249945448333% CAGR
The liquid ring vacuum pumps market is expected to surge with the increasing investment in the oil and gas industries. Particularly, in the downstream sector, the capital injection has been on an upward trend, prompting a rise in demand for these vacuum pumps. These pumps play a critical role in the oil and gas sector, serving a plethora of processes such as distillation, filtration, deaeration of caustic solutions, crystallizing, filling, cooling, solvent recovery, and more. Generally, the investments in new downstream oil refining and integrated chemical capacity will be hitting an average of $55 billion each year until 2025. This will, in turn, result in global crude distillation unit (CDU) capacity escalating by 1.7% on an annual basis. Consequently, more liquid ring vacuum markets will emerge, hence signifying that the liquid ring vacuum pumps market is being fueled by the escalating investments in the oil and gas sector.
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What is the future CAGR of the liquid ring vacuum pumps market, and how will it impact industry expansion?
In recent times, there has been a robust expansion in the market size of liquid ring vacuum pumps. There is a projection that market worth will rise from $2.38 billion in 2024 to $2.6 billion in 2025, witnessing a compound annual growth rate (CAGR) of 9.2%. This growth in the historical timeline can be credited to expansion in process industries like the chemical, pharmaceutical, and food & beverage sector. There's also been a surge in the demand for these vacuum pumps in power generation and petrochemical plants, the requirement for effective vapor and gas management in industrial operations, growth of applications in environmental and water treatment, along with an increasing utilization of these vacuum pumps in hvac systems and air conditioning.
In the coming years, the liquid ring vacuum pumps industry is projected to witness substantial growth, reaching a market value of $3.64 billion in 2029 with a compound annual growth rate of 8.7%. The anticipated growth during the projected period can be credited to the shift towards energy-efficient and low-maintenance vacuum pumps, the adoption of IoT and condition monitoring for predictive upkeep, industrial emphasis on limiting waste and recovering resources, the requirement for unique pumps in corrosive and hazardous environments, and the application of vacuum technology in the semiconductor and electronics production sectors. Key trends during this forecast timeframe are expected to be the incorporation of smart sensors for real-time condition tracking, endeavours towards noise mitigation and quieter functioning, focus on avoiding oil and contaminant accumulation in vacuum systems, advanced pumping methodologies for semiconductors and electronics, and the creation of intrinsically safe and atex-certified pumps.
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What are the most significant trends transforming the liquid ring vacuum pumps market today?
Innovations in products are trending in the liquid ring vacuum pumps industry with leading participants creating novel solutions to address the challenges in humid and dusty conditions and support sustainable productivity. For example, Atlas Copco, a manufacturing company from Sweden, unveiled its GHS 1402-2002 VSD+ series in May 2022. This new line boasts enhanced functionality, advanced oil separation, a more streamlined design, and pioneering controller technology. Applications in demanding vacuum environments are well-served by the GHS 1402-2002 VSD+ series, making it an optimal choice for varied uses such as thermoforming, food packaging, altitude simulation, woodworking lamination, clay extrusion, vacuum cooling, material handling tasks like electronics' pick and place, and sectors like paper, canning, and woodworking.
Which key market segments comprise the liquid ring vacuum pumps market and drive its revenue growth?
The liquid ring vacuum pumps market covered in this report is segmented -
1) By Stage: Single, Multiple
2) By Material: Cast Iron, Stainless Steel, Other Materials
3) By Capacity: < 500 cfm, 500 cfm- 1500 cfm, > 1500 cfm
4) By End Use: Chemical Processing, Oil And Gas, Power, Paper And Pulp, General Process Industries
Subsegments:
1) By Single Stage: Standard Single-Stage Liquid Ring Vacuum Pumps, Custom Single-Stage Designs
2) By Multiple Stage: Two-Stage Liquid Ring Vacuum Pumps, Multi-Stage Liquid Ring Vacuum Systems
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What regions are at the forefront of liquid ring vacuum pumps market expansion?
Asia-Pacific was the largest region in the liquid ring vacuum pumps market in 2024. Asia-Pacific is expected to have the highest CAGR in the liquid ring vacuum pumps market share. The regions covered in the liquid ring vacuum pumps market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the leading players fueling growth in the liquid ring vacuum pumps market?
Major companies operating in the liquid ring vacuum pumps market include 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.
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What Is Covered In The Liquid Ring Vacuum Pumps Global Market Report?
•Market Size Forecast: Examine the liquid ring vacuum pumps market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the liquid ring vacuum pumps market for a structured understanding.
•Key Players Overview: Analyze major players in the liquid ring vacuum pumps market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the liquid ring vacuum pumps market.
•Segment Contributions: Evaluate how different segments drive overall growth in the liquid ring vacuum pumps market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the liquid ring vacuum pumps market.
•Industry Challenges: Identify potential risks and obstacles affecting the liquid ring vacuum pumps market.
•Competitive Landscape: Review strategic developments in the liquid ring vacuum pumps market, including expansions, agreements, and new product launches.
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