The liquid ring vacuum pumps market size was USD 1.8 billion in 2020 and is projected to reach USD 2.4 billion by 2026, at a CAGR of 5.5% from 2021 to 2026, owing to rising gas transportation sector. The oil & gas segment is the biggest application for liquid ring vacuum pumps. The growing investments in the crude oil industry is expected to drive the use of liquid ring vacuum pumps.
North America is expected to be the second-largest market for liquid ring vacuum pumps during the forecast period. There is an increasing demand for liquid ring vacuum pumps from water and wastewater treatment plants in the region. Also, industries such as food & beverage, chemical processing, and pharmaceutical are driving the demand for liquid ring vacuum pumps in the region.
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The key market players include Busch Vacuum Solutions (Germany), Flowserve Corporation (US), Atlas Copco (Sweden), Ingersoll Rand (US), Tsurumi Manufacturing Co., Ltd (US), DEKKER Vacuum Technologies, Inc. (US), Vooner (US), Graham Corporation (US), Cutes Corp. (China), Zibo Zhaohan Vacuum Pump Co., Ltd (China), OMEL (Brazil), PPI Pumps Pvt. Ltd. (Mexico), Samson Pumps (Denmark), and Speck (Germany). These players have adopted product launches, agreements, acquisitions, mergers & acquisitions, and expansions as their growth strategies.
Ingersoll Rand is among the leading manufacturers in the liquid ring vacuum pumps market. The company designs and produces a broad range of vacuum products under industrial technologies & services segment. In February 2020, the company acquired and merged with the industrial business of Ingersoll-Rand plc while converting its name to Ingersoll Rand Inc. from Gardner Denver Holdings, Inc. This development strengthened the position of Ingersoll Rand as a global leader in the liquid ring vacuum pumps market.
Another important player in the liquid ring vacuum pumps market is Atlas Copco. In February 2019, Atlas Copco launched LRP 700-1000 VSD+, a new range of liquid ring vacuum pumps. The pumps come with cutting-edge vacuum solutions with a wide range of features for wet and humid applications. This launch strengthens the position of Atlas in the liquid ring vacuum pumps market with new product development.