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Vacuum Evaporators Market Worth $3.1 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 23, 2020 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets™, 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.
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Implementation of stringent environmental regulations, water scarcity across the globe, and increasing adoption of zero liquid discharge (ZLD) systems are key factors driving the vacuum evaporators market.
Automotive end-use industry segment accounted for the largest market share in 2018
By end-use industry, the automotive segment accounted for the largest share of the vacuum evaporators market in 2018. The global automotive industry, which needs water for its various production processes, is a major consumer of vacuum evaporators. According to estimates, producing a car requires over 39,000 gallons of water irrespective of the tire production. The major uses of water in automotive manufacturing include surface treatment & coating, paint spraying, washing, rinsing, hosing, and air-conditioning. The component manufacturing segment also has many water-intensive processes. All these results in large amounts of high-strength organic and oily wastewater with high heavy-metal content that needs effective treatment.
Thermal vacuum evaporators segment accounted for the largest market share in 2018
By type of technology, the thermal vacuum evaporators segment accounted for the largest share of the vacuum evaporators market in 2018. Thermal evaporation is the oldest technique of vacuum evaporation and is, hence, widely used in different end-use industries, such as chemical & petrochemical and food & beverage, for wastewater treatment and product processing. Thermal vacuum evapoators efficiently serve the end-use industries with large capacity requirements. These vacuum evaporators convert the water-based portion of the water-based wastes to water vapor while leaving the higher boiling contaminants behind. This can eliminate the need for discharging wastewater into sewers, besides significantly minimizing the amount of waste to be hauled off-site. These evaporators, designed for use in existing thermal energy-based boilers, have their main application in wastewater treatment.
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North America accounted for the largest market share in 2018
By region, North America accounted for the largest share of the vacuum evaporators market in 2018. The growth of the North America vacuum evaporators market can be attributed to increased environmental concerns among the masses and stringent implementation of various government regulations regarding the disposal of wastewater generated by industries in the region. Increasing R&D investments in the wastewater treatment industry and growing concerns related to wastewater disposal are anticipated to drive the growth of the vacuum evaporators market in this region. Additionally, technological advancements in zero liquid discharge are expected to fuel the market growth in North America.
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), Saltworks Technologies Inc. (Canada), Alfa Laval (Sweden), SPX Flow Inc. (US), JEOL Ltd. (Japan), Encon Evaporators (US), S.A.I.T.A. Srl (Italy), and KMU LOFT Cleanwater GmbH (Germany) are some of the leading players operating in the Vacuum Evaporators Market.
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