The liquid ring compressors market size was USD 874 million in 2020 and is projected to reach USD 1,229 million by 2026; at a CAGR of 5.8% from 2021 to 2026, owing to rising gas transportation sector. The oil & gas segment is the biggest application for liquid ring compressors. The growing investments in the crude oil industry is expected to drive the use of liquid ring compressors.
Based on type, the liquid ring compressors market has been segmented into single-stage and two-stage. The two-stage segment accounted for the largest share of the market, in terms of value, in 2020. This is majorly due to the increasing demand for two-stage liquid ring compressors across several industries such as oil & gas, water & wastewater, and power generation.
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Based on material type, the stainless steel segment accounted for the largest market share, in terms of value, in 2020. The high corrosion resistance of the material is driving the growth of this segment. Stainless steel has a longer life and low maintenance than cast iron. Liquid ring compressors made from stainless steel are used in various applications such as pharmaceutical, food manufacturing, oil & gas, and power generation.
Based on application, the liquid ring compressors market is segmented as petrochemical & chemical, oil & gas, pulp & paper, water treatment, food manufacturing, power generation, automobile, aircraft, EPS and plastics, and others. The oil & gas segment led the global market, accounting for the largest share in 2020 in terms of value. This segment is growing due to continuing developments in high crude oil-producing regions/countries such as the Middle East, North America, and Russia.
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). 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 compressors 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 Ingersoll-Rand plc while converting its name to Ingersoll Rand Inc. from Gardner Denver Holdings, Inc. This development has strengthened the position of Ingersoll Rand in the vacuum pumps and compressors market.
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Another important player in the liquid ring compressors market is Atlas Copco. In June 2020, Atlas Copco acquired Ovity Air Comprimé, a distributor of industrial air compressors and solutions for compressed air. This development has strengthened the geographical presence of Atlas in France.
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