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Liquid Ring Vacuum Pumps (LRVP) Market Expected to Hit US$ 2,871.3 Million 2024
Liquid Ring Vacuum Pumps, Liquid Ring Vacuum Pumps market, LRVP, LRVP market
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Global Liquid Ring Vacuum Pumps Market Forecast: By End Use Sector
• General process industries segment is estimated to increase to 17.8% market share by 2024 end and gain 80 BPS in 2024 over 2016
• Chemical processing segment, estimated to account for a revenue share of 28.2% by 2016 end, is expected to decrease to 28.1% by 2024 and lose 10 BPS in 2024 as compared to that in 2016
• Oil and gas segment is expected to lose 70 BPS by 2024 as compared to that in 2016 and account for 32.5% value share by 2024, owing to decrease in investments in oil and gas, particularly in the upstream sector. This can be attributed to increasing preference towards renewable sources of energy
• On the basis of end use, general process industries segment is expected to exhibit high growth rate in terms of value and volume as compared to the other segments over the forecast period
• Oil and gas segment is expected to account for a high value share owing to high quality liquid ring vacuum pumps with high safety and capacity being used in this industry
• Paper and pulp segment is expected to be less attractive in terms of value, owing to most small players in emerging countries such as India and China providing cheap liquid ring vacuum pumps for use in paper and pulp industries
Global Liquid Ring Vacuum Pumps Market Forecast – By Chemical Processing End Use Segment
• In terms of value, chemical processing segment is estimated to reach US$ 808.2 Mn by 2024 end. This segment is projected to create incremental opportunity of US$ 268.1 Mn between 2016 and 2024
• This segment is estimated to register a CAGR of 5.2% over the forecast period
• In terms of volume, this segment is estimated to be pegged at 76,058 units by 2024 end
Global Liquid Ring Vacuum Pumps Market Forecast – By Oil and Gas End Use Segment
• In terms of value, the oil and gas segment is estimated to reach US$ 931.9 Mn by 2024 end, creating incremental opportunity of US$ 295.7 Mn between 2016 and 2024
• This segment is estimated to witness a CAGR of 4.9% over the forecast period
• In terms of volume, this segment is estimated to be pegged at 26,193 units by 2024 end
Global Liquid Ring Vacuum Pumps Market Forecast – By Power End Use Segment
• In terms of value, the power segment is expected to reach US$ 403.1 Mn by 2024 end. This segment is projected to create incremental opportunity of US$ 132.3 Mn between 2016 and 2024
• This segment is estimated to exhibit a CAGR of 5.1% over the assessment period
• In terms of volume, this segment is expected to reach 27,516 units by 2024 end
Global Liquid Ring Vacuum Pumps Market Forecast – By Paper and Pulp End Use Segment
• In terms of value, the paper and pulp segment is expected to reach US$ 216.3 Mn by 2024 end, creating incremental opportunity of US$ 72.4 Mn between 2016 and 2024
• This segment is estimated to register a CAGR of 5.2% over the forecast period
• In terms of volume, this segment is estimated to be pegged at 22,658 units by 2024 end
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Global Liquid Ring Vacuum Pumps Market Forecast – By General Process Industries End Use Segment
• In terms of value, the general process industries segment is estimated to be valued at US$ 511.8 Mn by 2024 end. This segment is projected to create incremental opportunity of US$ 185.7 Mn between 2016 and 2024
• This segment is projected to witness a CAGR of 5.8% over the forecast period
• In terms of volume, this segment is estimated to reach 94,589 units by 2024 end
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