Dublin--(Business Wire)--"By type (single-stage, two-stage), material type (stainless steel, cast iron, other), flow rate (25-600 M3H; 600-3,000 M3H; 3,000-10,000 M3H; more than 10,000 M3H), Applications and Regions-Forecast to 2026" report has been added to ResearchAndMarkets.com's products.
The market size of liquid ring vacuum pumps in 2020 is 1.8 billion U.S. dollars and is expected to reach 2.4 billion U.S. dollars by 2026, with a compound annual growth rate of 5.5% from 2021 to 2026.
The growing demand for liquid ring vacuum pumps in various applications in the oil and gas and petroleum industries is driving the growth of this market.
Liquid ring vacuum pumps are rotary displacement machines, including liquid ring vacuum pumps and liquid ring compressors. These pumps have many advantages such as simple structure, liquid tightness, isothermal compression process and easy operation. Because of these advantages, liquid ring vacuum pumps are widely used in petroleum, chemical, electric power, metallurgy, pharmaceutical, light industry and other industries.
The two-tier market segment is expected to dominate the liquid ring vacuum pump market during 2021-2026
Divided by type, the two-stage market segment is expected to lead the market. This market segment is growing due to increased investment in industrialization in the Asia-Pacific region and increased cross-industry demand for two-stage liquid ring vacuum pumps.
During the forecast period, the stainless steel market segment by material type is expected to dominate the liquid ring vacuum pump market
According to the type of material and by value, the stainless steel segment will account for the largest share of the entire liquid ring vacuum pump market in 2020. Features such as high resistance to cavitation have increased the life expectancy of liquid ring vacuum pumps. It is expected that the demand for stainless steel liquid ring vacuum pumps will increase during the forecast period.
The 600-3000 m3/h market segment is expected to dominate the liquid ring vacuum pump market during 2021-2026
Calculated by flow rate, the 600-3000 m3/h segment will account for the largest market share in 2020. Liquid ring vacuum pumps with flow rates of 600-3000 m3/h and 3,000-10,000 m3/h are considered medium-capacity liquid ring vacuum pumps. The demand for industrial vacuum applications is growing steadily, mainly from the chemical, pulp and paper, and power generation industries, which contributes to the growth of this market segment.
The Asia-Pacific region is expected to dominate the liquid ring vacuum pump market in 2021-2026
The Asia-Pacific region will dominate the global liquid ring vacuum pump market in 2020. Due to low manufacturing costs and support from local governments, industrial activity in the region is growing. In addition, increasing investment in research and development activities is driving the liquid ring vacuum pump market in the Asia-Pacific region.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call +353-1- 416- 8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call +353-1- 416- 8900