A liquid ring vacuum pump is a unique class of positive displacement pumps that are non-pulsating and primarily, designed to remove gases. Various parts/components of liquid ring vacuum pumps can be made from different materials, with cast iron and stainless steel being the most prominent ones. These pumps are available in a wide range of suction capacity and find applications in various industries such as chemical processing, oil & gas, paper & pulp, power, and other processing industries.
Market Statistics:
The global liquid ring vacuum pumps market is expected to surpass US$ 3,513.86 Mn in terms of value by the end of 2028.
Market Driver
Growing demand for vacuum pumps from general processing industries is expected to accelerate growth of the global liquid ring vacuum pumps market during the forecast period. Liquid ring vacuum pumps and compressors have been witnessing higher demand from process industries, with growing output, especially in the textiles, pulp & paper, sugar processing, pharmaceuticals, and food & beverage industries. Furthermore, increasing demand for energy-efficient manufacturing options in developed countries is expected to boost expenditure in new pumping equipment. This, in turn, is expected to accelerate the demand for liquid ring vacuum pumps.
Market Opportunity
Liquid ring vacuum pumps and compressors find applications in chemical process industries, typically in those requiring solvent recovery, vapor recovery, and vacuum filtration. Moreover, growth of bioethanol and biodiesel industry has led to increased use of liquid ring vacuum pumps in distillation and rectification. According to Coherent Market Insights’ analysis, the global production of bioethanol is expected to expand at a CAGR of 7.1% between 2016 and 2020.
Global Liquid Ring Vacuum Pumps Market: Recent Developments
In August 2020, Graham Corporation was awarded $11 Million in orders for three projects in Asia. Graham will be providing an ejector-liquid ring pump vacuum system for the upgrade and expansion of a clean fuels refinery project.
In May 2018, Busch Vacuum Technics Inc. launched new series of dolphin liquid ring vacuum pumps
Major market players are focused on product launches, in order to expand the product portfolio. For instance, in August 2017, Atlas Copco Airpower N.V. launched liquid ring vacuum pumps AWS and AWD, which will be used in various industries including chemicals, pharmaceuticals, plastics, etc.
Market Restraint
Increasing penetration of dry vacuum pumps is expected to hamper the global liquid ring vacuum pumps market growth over the forecast period. Rising preference for energy-efficient and clean pumping technologies has led to increased adoption of dry vacuum pumps in pharmaceutical and chemical industry. Furthermore, increasing inclination towards power-efficient technologies, dry vacuum pumps are preferred over liquid ring vacuum pumps. As higher power is required to maintain and form a liquid ring which in turn demands larger motors than other types of vacuum pumps. Moreover, liquid ring vacuum pumps are limited by the vapor pressure of a sealant fluid at the operating temperature. Thus, to create high vacuums, usage of chilled water is indispensable, thereby leading to higher operating expenditure.
Global Liquid Ring Vacuum Pumps Market - Impact of Coronavirus (Covid-19) Pandemic
Since the outbreak of COVID-19 pandemic, the global ring vacuum pumps market has witnessed massive decline similar to several other industries and markets. With implementation of stringent lockdown policies, many industries had to temporarily suspend their routine activities. Ring vacuum pumps are typically used in chemicals, oil & gas, paper & pulp, etc. industries. However, regulations on physical distancing has compelled workers to stay at home, thereby interrupting manufacturing activities. However, market players are optimistic with several countries gradually relaxing the COVID-19 regulations. These countries have lifted the bans on international travels, which is expected to aid in growth of the global liquid ring vacuum pumps market.
To know the latest trends and insights prevalent in the Global Liquid Ring Vacuum Pumps Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/liquid-ring-vacuum-pumps-market-3892
Key Takeaways:
- The global liquid ring vacuum pumps market was valued at US$ 2,373.97 Mn in 2020 and is forecast to reach a value of US$ 3,513.86 Mn by 2028 at a CAGR of 5.2% between 2021 and 2028. This is owing to increasing demand for energy-efficient manufacturing operations.
- The chemical processing segment was valued US$ 631.5 Mn in 2020 and is expected to witness a CAGR of 5.4% over the forecast period. This is owing to reliable operations provided by the use of liquid ring vacuum pumps in chemical industry.
Market Trends
Key companies in the market are focused on mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in 2011, Atlas Copco acquired Edwards Group, a market leader in sophisticated vacuum products and abatement solutions. In 2011, Dekker Vacuum Technologies acquired HullVac Pump Corporation to expand its vacuum segment offerings along with strengthening its network of service centers. In 2014, Gardner Denver acquired Conroe Plastics Molding, Inc., a U.S.-based manufacturer of engineered seals, gaskets, and specialty plastic components for pumps and rotating equipment in the petroleum industry, to strengthen its position in offering aftermarket services to its high valued oil and gas customers.
Increasing concerns with regard to environment, particularly in Europe and North America, have led to a large number of industries shifting their specific product manufacturing bases to countries such as China and India, owing to the favorable business environment and comparatively relaxed environmental norms. High consumption of water for usage as sealing liquid is indispensable when it comes to liquid ring vacuum pumps, and companies are finding it hard to use portable water amid restrictions from environmental protection agencies. Furthermore, handling of contaminated water also adds to the overall cost of production.
Competitive Section
Major companies involved in the global liquid ring vacuum pumps market are Graham Corp., Dekker Vacuum Technologies Inc., Tuthill Vacuum & Blower Systems, Busch Vacuum Technics Inc., Gardner Denver Nash LLC, Flowserve Corporation, Atlas Copco Airpower N.V., Edwards Vacuum, and Tsurumi Manufacturing Co., Ltd.
