The global value of the liquid ring vacuum pump market reached ~US$ 2 Bn in 2018, discloses the recent study. As per the research, the liquid ring vacuum pump market is estimated to grow at ~5% CAGR during the forecast period to 2029. Growing demand for liquid ring vacuum pumps from chemical and general process industries is expected to drive the growth of the liquid ring vacuum pump market during the forecast period. According to the analysis and detailed study, investments in oil and gas, particularly in the downstream sector, and rising demand from the chemical industry have positively impacted the growth of the liquid ring vacuum pump market. Furthermore, high demand for liquid ring vacuum pumps for chemical processing and oil & gas industry applications is directly contributing to the expansion of the liquid ring vacuum pump market. Substantial demand for cast iron vacuum pumps is fueling the growth of the liquid ring vacuum pump market during the forecast period. The market value of the global liquid ring vacuum pump market is anticipated to be growing at a promising 5% CAGR through the end of 2029.
Prominent global players in the liquid ring vacuum pump manufacturing landscape are focusing on acquisitions, with the objective of adding new technologies to their product portfolio, improving economies of scale, and reducing operational costs. An emerging trend in the liquid ring vacuum pump market is the increasing expansion of small- and medium-sized LRVP manufacturers, particularly in Asia Pacific, owing to the increasing demand for liquid ring vacuum pumps and compressors expected from this region. For instance, in June 2018, Busch Vacuum Pumps and Systems acquired NSB Gas Processing, a Swiss-based engineering company.
According to report detailed analysis, prominent market players in the liquid ring vacuum pump market are providing liquid ring vacuum pumps with distinctive properties, on the basis of capacity such as less than 500 cfm, 500 cfm tp 1500 cfm, and greater than 1500 cfm. Concentrated demand for liquid ring vacuum pumps is from the chemical industry, followed by general process industries, and indicates significant growth in the liquid ring vacuum pump market growth.
These insights are based on a report on Liquid Ring Vacuum Pump Market by Persistence Market Research.