Dublin, Dec. 24, 2021 (GLOBE NEWSWIRE) -- The "Global Liquid Ring Compressors Market by Type (Single-stage, Two-stage), Material Type (Stainless Steel, Cast Iron), Flow Rate (25 - 600 M3H; 600 - 3,000 M3H; 3,000 - 10,000 M3H; Over 10,000 M3H), Application, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The liquid ring compressors market size was USD 874 million in 2020 and is projected to reach USD 1,229 million by 2026; it is expected to grow at a CAGR of 5.8% from 2021 to 2026.
Increasing demand for liquid ring compressors for various applications in oil & gas and petroleum industry is driving the growth of this market.
Liquid ring compressors are rotary displacement machines, which offer various advantages such as simple structure, liquid-sealing, isothermal compression process, and ease of handling. Owing to these advantages, liquid ring compressors are widely applied in petroleum, chemical, power, metallurgy, and pharmaceutical industries.
Two-stage segment is expected to dominate the liquid ring compressors market during 2021-2026
By type, two-stage segment is projected to lead the market. This segment is growing owing to the rise in investments being made to carry out industrialization in the Asia Pacific region, along with the increased demand for two-stage liquid ring compressors across industries.
Stainless steel segment is expected to dominate the liquid ring compressors market, by material type, during the forecast period
Based on material type, stainless steel segment is estimated to account for the largest share of the overall liquid ring compressors market, in terms of value, in 2020. Characteristics such as high cavitation resistance that enhances the life expectancy of liquid ring compressor is expected to enhance the demand for stainless steel liquid ring compressors during the forecast period.
600-3000 m3/h segment is expected to dominate the liquid ring compressors market during 2021-2026
By flow rate, the 600-3000 m3/h segment accounted for the largest share of the market, in terms of value, in 2020. The liquid ring compressors with a flow rate of 600-3000 m3/h and 3,000-10,000 m3/h are considered medium capacity liquid ring compressors. Steadily growing demand for industrial vacuum applications, mainly from the chemical, pulp & paper, and power generation industries, is aiding in the growth of this segment.
Asia Pacific is expected to dominate the liquid ring compressors market during 2021-2026
Asia Pacific dominated the global liquid ring compressors market in 2020. Industrial activities are growing in this region owing to low manufacturing costs and support of local governments. Also, increasing investments in research and development activities are driving the liquid ring compressors market in Asia Pacific.
Premium Insights
- Attractive Opportunities in Liquid Ring Compressors Market -Growing Industrialization in Emerging Economies to Boost Market Growth
- Liquid Ring Compressors Market, by Application - Oil & Gas Segment to Lead Liquid Ring Compressors Market During Forecast Period
- Liquid Ring Compressors Market, by Flow Rate - Flow Rate of 600-3000 M3/H to be Largest Segment in 2021
- Liquid Ring Compressors Market, by Region - Asia-Pacific to Lead Liquid Ring Compressors Market During Forecast Period
- Asia-Pacific: Liquid Ring Compressors Market, by Type and Country, 2021 - China and Two-Stage Segment to Account for Largest Shares
Market Dynamics
Drivers
- Rise in Energy Consumption
- Low Maintenance and Operational Cost
- Gas Transportation Sector Gaining Momentum
Restraints
- Declining LNG Imports in Japan and South Korea
- Rising Issues Regarding Water Conservation
Opportunities
- Growing Demand for Environment-Friendly Compressors
- Industrialization in Emerging Economies to Increase Demand for Liquid Ring Compressors
Challenges
- Adherence to Stringent Quality Standards
- Impact of COVID-19 on Liquid Ring Compressors Market
Company Profiles
- Atlas Copco
- Busch Vacuum Solutions
- Company Profiles
- Cutes Corp
- Dekker Vacuum Technologies, Inc
- Finder Pumps
- Flowserve Corporation
- Garuda
- Graham Corporation
- Guangdong Kenflo Pump Limited
- Hobei Tonfun High-Tech Pump Co, Ltd
- Ingersoll Rand
- Kakati
- OMEL
- Pompetravaini Spa
- SAFEM
- Shandong Bozhong Vacuum Technology Co, Ltd
- Shandong Chinco Pumps Co, Ltd
- Somarakis
- Speck
- Yantai Volm Vacuum Technology Co, Ltd
- Zibo Zhaohan Vacuum Pump Co, Ltd
For more information about this report visit https://www.researchandmarkets.com/r/vkt4i3
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