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Market Trends And Forecast For Liquid Ring Compressors: Global Outlook| Marketsandmarkets™
A liquid ring compressor is a type of rotary positive displacement compressor that uses a liquid to form a rotating ring around the inner circumference of a cylinder. This liquid ring creates a seal between the rotor and the cylinder wall, trapping the gas and forcing it to the discharge port. Liquid ring compressors are used to compress air and other gasses in a wide variety of industrial and commercial applications. They are ideal for applications where oil-free air and/or low noise is required. They are also used in vacuum systems, such as those used in wastewater treatment, food and beverage processing, paper and pulp production, and chemical plants.
The global liquid ring compressors market size is expected to reach USD 337 million by 2026, growing at a CAGR of 5.8% over the forecast period, according to a new report by MarketsandMarkets™. The growing demand for liquid ring compressors in the chemical industry is expected to drive market growth. Increasing demand from food & beverage and power & energy industries is also projected to boost the market over the next few years.
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The increased use of liquid ring compressors as a cooling system in the chemical industry is expected to drive market growth. Rising demand for liquid ring compressors in the food & beverage industry is also projected to fuel market growth. The high efficiency of liquid ring compressors and their ability to operate in high-temperature and corrosive environments are expected to boost demand. Furthermore, the increasing adoption of liquid ring compressors in the power & energy industry is projected to create lucrative opportunities for the market in the coming years.
By type, two-stage is the fastest-growing segment during the forecast period of 2021 to 2026.
Two-stage liquid ring compressors are becoming increasingly popular because they provide higher efficiency, better compression ratios, and higher pressure ratios than single-stage compressors. The increasing demand for these compressors in various applications such as oil and gas, chemical, petrochemical, and power generation is driving the growth of the market. The rising focus on energy efficiency and the need for higher efficiency levels in manufacturing and industrial processes is expected to further propel the growth of the two-stage liquid ring compressor market during the forecast period.
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By flow rate, 3000-10,000 m3/h segment is projected to grow at the highest CAGR during the forecast period.
The liquid ring compressors market is expected to witness significant growth during the forecast period, with the 3000-10,000 m3/h segment projected to grow at the highest CAGR. This segment is expected to be driven by the increasing demand for liquid ring compressors in the oil and gas, chemical, pharmaceutical, and power industries. The increasing need for efficient and reliable solutions for wastewater treatment and wastewater sludge management is also bolstering the growth of this segment. Additionally, the growing demand for liquid ring compressors in applications such as vacuum distillation and vacuum drying is further driving the growth of this segment.
Stainless steel is anticipated to experience quicker growth than other material types over the projection period.
Stainless steel is the most commonly used material in liquid ring compressors due to its superior corrosion resistance and superior mechanical properties. Its physical properties make it suitable for use in a variety of applications, including industrial and residential applications. In addition, stainless steel is also more durable and can withstand extreme temperatures and pressures. As a result, the demand for stainless steel in liquid ring compressors is expected to grow at a faster rate during the forecast period.
Between 2021 and 2026, Asia Pacific is anticipated to have the greatest CAGR.
The Asia Pacific region is anticipated to register the highest CAGR during the forecast period, owing to the growing demand for liquid ring compressors from various industries such as oil and gas, chemical and pharmaceutical, and food and beverage, among others. The region is also witnessing a growing demand for energy-efficient compressors, which are being increasingly used in industrial processes. Moreover, the presence of a large number of manufacturers in the region is expected to drive the market growth during the forecast period.
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North America is expected to be the second-largest market in 2020, in terms of value.
The North American liquid ring compressors market is expected to witness significant growth during the forecast period, owing to the increasing demand from various end-use industries such as food processing, chemical, and oil & gas. The presence of key players in the region, such as Gardner Denver, Nash, Pumps & Compressors Ltd., and Atlas Copco, is expected to drive the market growth in the region. In addition, the increasing investments in the oil & gas industry, rising demand for pumping solutions in the chemical industry, and growing food processing sector are some of the other factors driving the North American liquid ring compressors market. Moreover, the increasing focus on energy efficiency and the need for efficient and reliable liquid ring compressors are expected to fuel the market growth in the region.
The key market players include Busch Vacuum Solutions (Germany), Flowserve Corporation (US), Atlas Copco (Sweden), Ingersoll Rand (US), DEKKER Vacuum Technologies, Inc. (US), Graham Corporation (US), Cutes Corp. (Taiwan), Zibo Zhaohan Vacuum Pump Co., Ltd (China), OMEL (Brazil), and Speck (Germany) and others.
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