Liquid Ring Vacuum Pumps market to reach $2.4 billion by 2032, driven by energy efficiency and growth.

From GlobeNewswire: 2024-12-02 08:57:00

The Liquid Ring Vacuum Pumps Market was valued at USD 1.5 billion in 2023, expected to reach USD 2.4 billion by 2032, growing at a CAGR of 5.3%. Key growth drivers include demand for energy-efficient solutions, growth in food processing, and pharmaceutical industries. Major companies like Atlas Copco are investing in R&D to enhance pump performance.

Primary growth factors for the Liquid Ring Vacuum Pumps market include rising demand for energy-efficient solutions, reliable equipment in harsh environments, and growing applications in pharmaceuticals and food manufacturing. These pumps offer energy efficiency, high reliability, and a lower environmental footprint, driving market growth.

North America dominated the Liquid Ring Vacuum Pumps Market in 2023, with approximately 40% share, driven by strong industrial sectors like oil and gas, chemical processing, and food manufacturing. Meanwhile, the Asia-Pacific region emerged as the fastest-growing market, with a 5.7% CAGR, driven by investments in chemical processing and water treatment.

In 2023, the cast iron segment dominated the liquid ring vacuum pumps market, accounting for approximately 45% of the total share. Its durability and capacity to withstand high-pressure conditions make cast iron ideal for heavy-duty applications. The chemical and petrochemical segment dominated the market, accounting for over 30% share, relying on these pumps for essential applications like distillation and extraction.



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