LIQUID RING VACUUM PUMPS MARKET ANALYSIS

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2. LIQUID RING VACUUM PUMPS MARKET ANALYSIS Liquid Ring Vaccum Pumps Market By Material Type (Cast Iron, Stainless Steel and Others), By Capacity (cfm) (< 500 cfm, 500 cfm-1500 cfm and > 1500 cfm), By End-use Industry (Chemical Processing, Oil & Gas, Power, Paper & Pulp and General Process Industries)and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. Market Overview • A liquid ring pump is a rotating positive-displacement pump where they are used as a vacuum pump and gas compressor. It is a unique class of pumps that is non-pulsating and primarily designed to remove gases. Impellers are located eccentrically and aids in creating a ring of liquid and to maintain it at the periphery of the pump. Unlike other vacuum pumps, liquid ring vacuum pumps require lower maintenance and come with longer warranties. These pumps are available in a wide range of suction capacity and find applications in various industries such as chemical processing, oil & gas, paper & pulp, power, and other processing industries. • The global Liquid Ring Vacuum Pumps Market was accounted for US$ 2137.9 Mnin terms of value and 197,591 Units in terms of volume in 2019 and is expected to grow at CAGR of 5.2% for the period 2020-2027.

4. Market Dynamics- Drivers Rising investments oil and gas sector is expected to drive growth of the global liquid ring vacuum pumps market during the forecast period • In the recent past, upstream oil and gas sector has faced major challenges though downstream sector has witnessed major growth. According to Coherent Markets Insights’ analysis, the global refinery capacity is expected to increase with a CAGR of around 1.7% over 2016–2020, compared to the previous average growth rate of around 1.2% over the past 10 years. In this, refineries in MEA and APEJ are expected to hold a major share in the market. Furthermore, establishing and expansion of refinery projects in Taiwan, Egypt, Uganda, and Malaysia, and India is expected to boost the demand for liquid ring vacuum pumps in these countries. Hence, these factors are expected to drive growth of the market during the forecast period.

5. Increasing regulatory regulations from EPA regarding flare gas are expected to boost the global liquidring vacuum pumps market growth over the forecast period • Liquid ring vacuum compressors play a crucial role in meeting strict regulatory environment norms regarding flaring of natural gas. These compressors are majorly used in recovery of fuel gas and condensing valuable hydrocarbons, enabling the organizations to add more revenues. The U.S. Environmental Protection Agency (EPA) is increasingly becoming strict with regulations regarding flaring of natural gas and implementation of such regulations is expected to be more stringent in the near future. Furthermore, prominent global manufacturers are offering complete systems for flare gas management, which also cools and cleans the gas as it is condensed; thus, eliminating the need for downstream condensers and scrubbers. Thus, these factors are expected to propel the global liquid ring vacuum pumps market growth in the near future

6. Statistics: • Asia Pacific held dominant position in the global Liquid Ring Vacuum Pumps market in 2019, accounting for 36.3% share in terms of value, followed by Europe and Asia Pacific, respectively

7. Figure 1: Global Liquid Ring Vacuum Pumps Market Share (%) in terms of Value, By Region, 2019

8. Market Dynamics- Restraints High initial cost of liquid ring vacuum pumps with shift towards hybrid technologies is expected to restrain growth of the global liquid ring vacuum pumps market during the forecast period • Initial installment cost of liquid ring vacuum pump is significantly high depending upon capacity, power, type of material, and safety features required in the industry. The cost of a liquid ring vacuum pump or compressor can vary between US$ 1,000–US$ 50,000, with high-cost pumps and compressors used specifically in limited applications requiring significant vacuums. As a result of this, majority of companies are moving towards deploying combination of instruments as compared to single high power high capacity liquid ring vacuum pumps. This, in turn, is expected to hamper the global liquid ring vacuum pumps market growth in the near future. Rising issues regarding water conservation are expected to hinder the global liquid ring vacuum pumps market growth over the forecast period • Globally, various water conservation agencies have identified irresponsible usage and handling of water, deployed in liquid ring vacuum pumps. This includes chemicals, petroleum refineries, pharmaceuticals, and other manufacturing facilities, where a large number of liquid ring vacuum pumps and compressors utilize the significant volume of portable water. Increasing pressure from water agencies such as Contra Costa Water District, Upper San Gabriel Valley Municipal Water District, Metropolitan Water District of Southern California, East Bay Municipal Utilities District, and San Antonio Water Service through their publications indicate a large number applications, where liquid ring vacuum pumps can be replaced with alternative technologies. These factors are expected to hinder the market growth in the near future

9. Market Opportunities Advent of high-efficiency pumps and low water usage liquid ring vacuum pumps can present major business technologies • Increasing awareness regarding water conservation has compelled market players to introduce new products with higher efficiency. For instance, in 2014, Gardner Denver Nash introduced the NASH 2BE5 series of liquid ring vacuum pumps, with a 10% higher efficiency and a 25% reduction in water consumption in the once-through mode. In 2015, Dekker Vacuum Technologies introduced the TiTan single and double stage liquid ring vacuum pumps, with a higher efficiency and which reduces the amount of sealing liquid by over 50%. Rising number of small manufacturers of liquid vacuum pumps in India and China can offer major growth opportunities • The number of small and medium-sized manufacturers if liquid ring vacuum pumps are increasing rapidly in emerging economies such as India and China. However, these companies are prominently targeting industries, which require small capacity pumps and where safety is not a major issue such as sugar, pharmaceuticals, and paper & pulp. Furthermore, a number of pumps are focused on chemical processing units in applications, where low capacities are required. These pumps are priced significantly lower than their counterparts from global manufacturers.

10. Figure 2: Global Liquid Ring Vaccum Pumps Market Value (US$ Mn), 2016 - 2027

11. Market Trends Rising merger and acquisition activities among key market players • Major market players are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in 2014, Gardner Denver acquired GaroDott. Ing. Roberto Gabbioneta Spa, a manufacturer of liquid ring compressors and packaged systems for various industries such as flare gas recovery in refineries and vapour recovery units. In 2015, Atlas Copco acquired the vacuum business of OC Oerlikon Corporation AG. Moreover, in September 2016, Atlas Copco acquired the Leybold vacuum business. Constantly shifting demand towards Asian countries • Increasing concerns with regard to environment, particularly in Europe and North America, have led to a large number of industries shifting their specific product manufacturing bases to countries such as China and India, owing to favorable business environment and comparatively relaxed environmental norms. Increasing concerns with regard to environment, particularly in Europe and North America, have led to a large number of industries shifting their specific product manufacturing bases to countries such as China and India, owing to favorable business environment and c

12. Competitive Section • Major companies involved in the global liquid ring vacuum pumps market are Graham Corp., Dekker Vacuum Technologies Inc., Tuthill Vacuum & Blower Systems, Busch Vacuum Technics Inc., Gardner Denver Nash LLC, Flowserve Corporation, Atlas Copco Airpower N.V., Edwards Vacuum, and Tsurumi Manufacturing Co., Ltd. Key Developments • Key players in the market are involved in mergers and acquisitions, in order to enhance the market presence. For instance, in February 2020, Atlas Copco Airpower N.V. acquired Dekker Vacuum Technologies Inc., a U.S.-based provider of vacuum equipment. • Key companies in the market are focused on product launches, in order expand product portfolio. For instance, February 2020, Edwards Vacuum, a subsidiary of Edwards, launched a new range of new liquid ring pumps.

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