Liquid ring compressors market projected to reach $2.0 billion by 2032 with 5.6% CAGR
From GlobeNewswire: 2025-01-24 09:00:00
The Liquid Ring Compressors Market size was valued at $1.22 billion in 2023, projected to reach $2.0 billion by 2032 with a 5.6% CAGR. Key drivers include global energy consumption, gas transportation, and demand for eco-friendly compressors. Technological advancements are enhancing energy efficiency and sustainability in various industries.
Liquid ring compressors, crucial for compressing gases in wet and corrosive environments, are experiencing significant growth driven by global energy consumption and the demand for eco-friendly solutions. Technological advancements are leading to more sustainable and cost-effective compressor options, particularly valued in industrial settings like oil and gas, chemical processing, and pharmaceutical industries.
The dominance of the two-stage liquid ring compressors segment with over 54% market share in 2023 is driven by the need for efficient compressors in handling large volumes of wet and dirty gases. Stainless steel, with over 44% market share in 2023, is preferred for its corrosion resistance and durability, making it ideal for high-demand applications in industries like petrochemicals and pharmaceuticals.
North America led the market with over 34% market share in 2023, attributed to robust industrial infrastructure and high demand for compressors across various industries. The Asia Pacific region is experiencing the fastest growth in the liquid ring compressor market, with a projected CAGR of 7.24% between 2024 and 2032. The liquid ring compressors market is experiencing significant growth due to industrialization in countries like China, India, and Japan. Demand for energy-efficient solutions in industries like chemicals and manufacturing is driving market expansion. Recent developments include new compressor series by Fusheng and innovative green compressors by Secop, catering to various industries.
The market report provides insights on market dynamics, statistical trends, and competitive landscape of liquid ring compressors. It includes in-depth analysis of market segmentation by flow rate, material type, type, and application. The report also covers regional analysis, company profiles, and use cases, offering valuable information for businesses in the industry.
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