Vacuum Evaporators Market by Type Of Technology (Heat Pump, Mvr, Thermal), Application (Wastewater Treatment, Product Processing), End-Use Industry (Chemical & Petrochemical, Automotive, Food & Beverage, Energy & Power), Geography - Global Forecast to 2024
“The vacuum evaporators market is projected to witness a CAGR of 6.9% from 2019 to 2024, in terms of value”
The vacuum evaporators market is projected to grow from USD 2.2 billion in 2019 to USD 3.1 billion by 2024, at a CAGR of 6.9% from 2019 to 2024. The implementation of stringent environmental regulations, water scarcity across the globe, and increasing adoption of zero liquid discharge (ZLD) systems are major factors driving the vacuum evaporators market.
“The wastewater treatment application segment is anticipated to lead the vacuum evaporators market during the forecast period”
Based on application, the wastewater treatment segment led the vacuum evaporators market in 2018, in terms of value, and is also projected to grow at the highest CAGR during the forecast period. Formulation and stringent implementation of various regulations regarding the discharge of effluents are expected to drive the demand for vacuum evaporators. These environmental regulations compel companies around the globe to ensure zero liquid discharge into the environment. Therefore, various end-use industries, such as automotive, pharmaceutical, chemical & petrochemical, and food & beverage, are installing ZLD systems.
“The MVR vacuum evaporators segment is projected to lead the market, by type of technology, during the forecast period”
By type of technology, the MVR (mechanical vapor recompression) vacuum evaporators segment is projected to lead the vacuum evaporators market during the forecast period. MVR vacuum evaporators have, for decades, been used in the manufacturing industry for purposes such as desalinating sea water, concentrating juices, and treating wastewater on large industrial scales. The MVR technology is newer compared to Thermal Vapor Recompression (TVR) and is rapidly replacing TVR in European and North American countries. However, MVR vacuum evaporators are costlier and consume more energy as compared to the other types.
“Asia Pacific is projected to register the highest CAGR in the vacuum evaporators market during the forecast period”
The vacuum evaporators market in Asia Pacific is projected to grow at the highest rate from 2019 to 2024. The region is home to some of the fastest-growing economies in the world. China, Japan, India, South Korea, Malaysia, Australia, and the Rest of Asia Pacific are considered for the study of the Asia Pacific vacuum evaporators market. China, India, and Japan are witnessing rapid industrial, manufacturing, and infrastructural growth. Some of the economies in Asia Pacific have tremendous market potential in terms of rising population, favorable government policy, industrial growth, and others. China and India are the two fastest-growing economies in the world. Economic growth is expected to increase industrial activities in these countries, leading to increased demand for treated water. This, in turn, is expected to grow the market for vacuum evaporators in the Asia Pacific region.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
By Designation: C-level Executives – 30%, Directors – 40%, and Others – 30%
By Region: North America – 25%, Europe – 30%, Asia Pacific – 35%, South America – 5% Middle East & Africa- 5%
Furthermore, as a part of the qualitative analysis of the vacuum evaporators market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by the leading market players, such as Veolia Water Technologies (France), Condorchem Envitech (Spain), Eco-Techno S.r.l. (Italy), SUEZ Water Technologies & Solutions (France), GEA Group AG (Germany), H2O GmbH (Germany), De Dietrich Process Systems (France), Sanshin Mfg. Co., Ltd. (Japan), Lenntech (Netherlands), Saltworks Technologies Inc. (Canada), Bucher Unipektin (Switzerland), Alfa Laval (Sweden), SPX Flow Inc. (US), JEOL Ltd. (Japan), Samsco Corporation (US), Praj Industries Limited (India), Encon Evaporators (US), S.A.I.T.A. Srl (Italy), and KMU LOFT Cleanwater GmbH (Germany).
The report defines, segments, and projects the size of the vacuum evaporators market based on application, type of technology, end-use industry, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as new product launches, agreements, and partnerships undertaken by them in the market.
Reasons to Buy the Report:
This report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the vacuum evaporators market and its segments. The report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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