Global Liquid Ring Vacuum Pumps Market is estimated to Witness Steady Growth Owing to Growing Industrial Applications and Increasing Adoption in Chemical Industry
Global liquid ring vacuum pumps market is estimated to be valued at USD US$ 1,142.2 Mn in 2024, exhibiting a CAGR of 4.6% over the forecast period (2024-2031). Liquid ring vacuum pumps find widespread usage across various industrial verticals such as power, oil & gas, chemicals, pharmaceuticals, pulp & paper, and metalworking. Furthermore, stringent regulations regarding emissions and environment protection are compelling industries to adopt vacuum pumps for effluent treatment applications.
Market Dynamics:
The growth of the global liquid ring vacuum pumps market is driven by two key factors. Firstly, rapid industrialization across developing regions of Asia Pacific and Latin America has increased the demand for liquid ring vacuum pumps from process industries such as chemicals and pharmaceuticals for applications involving vacuum drying, evaporation, and distillation. Secondly, liquid ring vacuum pumps offer significant operational advantages over dry vacuum pumps such as being oil-lubricated and generating less noise. This has encouraged the replacement of existing dry vacuum pump systems with liquid ring pumps, especially in noise-sensitive industrial settings. However, high installation and maintenance costs continue to restrain the market growth to some extent.
Increasing demand from chemical processing industry is driving the growth of the global liquid ring vacuum pumps market
The global chemical processing industry has seen significant growth over the past few years. Liquid ring vacuum pumps are widely used in various chemical processes such as evaporation, distillation, and crystallization to maintain vacuum in these processes. With the expansion of chemical industry in emerging economies and increasing production volumes in major chemical manufacturing countries, the demand for liquid ring vacuum pumps has increased substantially. The growth in chemical industry is expected to continue in the coming years, driven by rising demand from end-use industries such as pharmaceuticals, fertilizers, specialty chemicals, and others. This growth in the chemical industry will propel the demand for liquid ring vacuum pumps during the forecast period.
Declining vacuum technology preferences could hamper the market growth
Over the past few years, dry vacuum pumping technologies especially turbo molecular vacuum pumps have witnessed rising preference compared to liquid ring vacuum pumps in certain applications such as freeze drying, thin film deposition, and analytical instruments. Technological advancements have made dry vacuum pumps more efficient and optimized for multiple industrial processes. Their advantages such as low maintenance, minimal downtime, and ability to achieve high vacuum levels make them suitable substitutes. Moreover, stricter environmental regulations around the use and disposal of liquid fluids may compel end users to shift towards dry vacuum technologies in developed markets. This changing vacuum technology preferences could create challenges for liquid ring vacuum pumps suppliers and slightly hinder the market growth during the forecast period.
Fluctuating raw material prices pose threat to market revenue
Steel, copper, and other non-ferrous metal prices are subject to volatility depending upon global economic conditions and trade policies. Liquid ring vacuum pumps have major components such as casing, impeller, and wear rings which are made from metals. Fluctuations in raw material costs directly impact the manufacturing cost of vacuum pumps. Any steep rise in input prices can force suppliers to periodically increase product prices. This makes liquid ring vacuum pump pricing unpredictable for end users. Moreover, market uncertainty arising due to unstable raw material environment may discourage new investments and capacity expansions. Raw material price swings are an important challenge that needs to be addressed collaboratively by market players and raw material suppliers to sustain long term growth in the market.
Growing biopharmaceutical industry opens new opportunities
Biopharmaceutical industry has emerged as a lucrative end-use sector with strong global expansion outlook. Industries such as pharmaceuticals, biotechnology and healthcare are estimated to contribute significantly to the economic growth in several countries. Manufacturing of biological drugs, vaccines, and other bioproducts requires process equipment with ultra-high hygienic standards and precision vacuum systems. Liquid ring vacuum pumps catering to these stringent quality and safety norms see rising installation opportunities. Their liquid sealing mechanism makes them ideal for contamination sensitive bioprocessing applications. Growing capital investments by biopharma players Tuthill Corporation, Pfeiffer Vacuum GmbH, Graham Corporation, Ingersoll Rand especially in developing countries will drive fresh demand for liquid ring vacuum pump installation projects. Market players need to aggressively target this opportunity by developing hygienic pump designs and reliability focused service models.
Link: https://www.coherentmarketinsights.com/market-insight/liquid-ring-vacuum-pumps-market-3892
Key Player:
Gardner Denver Inc., Busch Vacuum Solutions, Atlas Copco, Dekker Vacuum Technologies, Flowserve Corporation, Tuthill Corporation, Pfeiffer Vacuum GmbH, Graham Corporation, Ingersoll Rand, KSB SE & Co. KGaA, Ebara Corporation, Sterling SIHI (now part of Flowserve), and NES Company, Inc.
