Chemical industry to dictate the fortune of liquid ring vacuum pump market: PMR

By OEM Update Editorial November 11, 2019 4:12 pm IST

The global value of the liquid ring vacuum pump market reached $ 2 billion in 2018, discloses the recent study. As per the research, the liquid ring vacuum pump market is estimated to grow at 5 per cent CAGR during the forecast period. Growing demand for liquid ring vacuum pumps from chemical and general process industries is expected to drive the growth of the liquid ring vacuum pump market during the forecast period.’

According to the analysis and detailed study, investments in oil and gas, particularly in the downstream sector, and rising demand from the chemical industry have positively impacted the growth of the liquid ring vacuum pump market. Furthermore, high demand for liquid ring vacuum pumps for chemical processing and oil & gas industry applications is directly contributing to the expansion of the liquid ring vacuum pump market over the forecast period.

Substantial demand for cast iron vacuum pumps is fueling the growth of the liquid ring vacuum pump market during the forecast period. The market value of the global liquid ring vacuum pump market is anticipated to be growing at a promising 5 per cent CAGR through the end of 2029.