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Global Vacuum Pumps Market Size was valued at USD 5.4 Billion in 2022. The Vacuum Pumps market industry is projected to grow from USD 5.8 Billion in 2023 to USD 8.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.75% during the forecast period (2023 - 2032). Investments made by customers in new production equipment and an increase in the use of vacuum pumps in the semiconductor, chemical processing, oil & gas, and power industries, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
It is anticipated that the semiconductor and electronics industries would make substantial advancements that will speed up industrial expansion. For instance, the Semiconductor Industry Association reports that worldwide semiconductor sales increased by 27.6% year over year to USD 144.8 billion in the third quarter of 2021 compared to the third quarter of 2020. Furthermore, compared to the second quarter of 2021, sales rose 7.4%. The expanding global demand for chips and the remarkable manufacturing efforts made by industry participants will surely raise demand for these pumps because vacuum pumps are crucial to the creation of semiconductors.
The versatility of vacuum pumps in many applications is a major development driver for the global vacuum pump market. Gases and air can be pumped out of a small or closed space using the vacuum pumps. They work in a variety of industries, including the food and beverage, processing, chemical and pharmaceutical, automotive, oil and gas, and many others. In addition to the quick technological improvements in electronics items like computers, mobile phones, and tablets, the rising spending power of the middle class population worldwide is another factor that is anticipated to boost sales of semiconductors and electronics. This is also projected to benefit the global vacuum pump market throughout the course of the forecast year. Vacuum pump demand will rise as a result of increased use of cryogenics in the beverage and microelectronics industries as well as the rapid technological advancement in sectors like astronomy and aviation. The market may also have a lucrative possibility for growth as a result of expanding study and research into the application of vacuum pumps in the medical sector. However, the high costs associated with product operation and maintenance may restrict market growth.
The rapid rise in demand for electronic gadgets sparked by the coronavirus pandemic is also attributable to the widespread adoption of the work-from-home culture. Additionally, European and American electronics producers are striving to extend their operations in emerging countries through technological breakthroughs and well-established distribution networks. It is likely that the popularity of consumer electronics among young people in China and India will have a positive effect on market revenue. On the other hand, due to the possibility of a supply collapse as well as the associated maintenance and operational costs, vacuum pump users and other industry players may experience challenges. Thus, driving the Vacuum Pumps market revenue.
The global Vacuum Pumps market segmentation, based on Lubrication, includes dry and wet. The dry sub-segment dominated the world market and contributed to more than half of the revenue in 2022. This is due to the increase in oil and gas activity. In order to improve purity, dry vacuum pumps minimize contamination from oil and other contaminants. Due to the less frequent requirement for oil changes, they also require less maintenance. These pumps successfully lessen contamination from oil or other chemicals, preserving the purity of the final product. Due to less frequent oil changes, dry vacuum pumps also require less maintenance.
The global Vacuum Pumps market segmentation, based on Pressure, includes low vacuum pumps, medium vacuum pumps, high vacuum pumps, ultra-high vacuum pumps, and extreme high vacuum pumps. The high vacuum pump market is predicted to develop at a rate of roughly 5% through 2027, making it the one with the fastest rate of expansion. High vacuum pumps may deliver a vacuum pressure range as low as 10-10 to 10-12 Torr for some crucial applications, such as mass spectrometry, evaporation coating, electron microscopy, and space technology. When low and medium pumps are unable to produce the required vacuum environment, they are employed. They need to be used in conjunction with other devices, such as booster pumps, medium and low vacuum backups, and others, to function properly.
The global Vacuum Pumps market segmentation, based on End User, includes automotive, chemical and petrochemical, aerospace and defense, oil and gas, healthcare and pharmaceuticals, and others. Due to the expansion of both the small- and large-scale chemical industries, the chemical & petrochemical category held the largest market share for vacuum pumps in 2022. Vacuum pumps use suction to power the liquid filtration process.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. Over the forecast period, the Asia Pacific Vacuum Pumps market is expected to rule the industry. The vacuum pump market in the Asia Pacific area is majorly impacted by the rising investments in end-user sectors like oil and gas, chemical, and power generation. Countries like China and India include oil sands, which are common in the area. Further, In the Asia-Pacific region, the Indian Vacuum Pumps market had the quickest rate of growth while China's Vacuum Pumps market had the greatest market share.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
In the year 2022, the North American vacuum pump market grew dramatically. Due to the surge in shale gas production in the United States and the stabilizing oil prices, vacuum pumps are being used more and more in the chemical and oil and gas industries. Additionally, the harsher settings in which these applications usually operate diminish productivity and encourage the oil and gas industry to invest in cutting-edge technology in place of outmoded machinery. Further, In the North American area, the U.S. Vacuum Pumps market had the biggest market share, while the Canada Vacuum Pumps market had the quickest rate of expansion.
The expansion of natural gas production along with rising investments in end-user sectors including oil and gas, chemicals, and power generation are likely to propel the European vacuum pump market to a respectable growth rate during the forecast period. Further, In the European region, the German Vacuum Pumps market had the biggest market share, and the U.K. Vacuum Pumps market had the quickest rate of growth.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Vacuum Pumps market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Vacuum Pumps sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Vacuum Pumps industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Vacuum Pumps sector. Major players in the Vacuum Pumps market, including Atlas CoVacuum pumpo AB, Becker Pumps Corporation, Busch Vacuum Solutions, Ebara Corporation, Flowserve Corporation, GlobalVac & Air, Graham Corporation, Ingersoll Rand, Pfeiffer Vacuum GmbH, ULVAC Inc., are attempting to increase market demand by investing in research and development operations.
Edwards Group Ltd. is a well-known global manufacturer of vacuum products, abatement systems, and related services. The company's vacuum products include a variety of dry pumps, turbomolecular pumps, and other vacuum pumps. For many production operations, these conditions are controlled, low-pressure, and particle-free. In December 2020, the Edwards Group, a branch of Atlas Corp., concentrated on developing an abatement solution that ensures the production of the micro electric solution in significant quantities while minimizing environmental pollution.
Ebara Corp (Ebara) manufactures and sells industrial, environmental, and related equipment. It provides services for hydroelectric power plants, gear used in nuclear power, including engineering, construction, operations, and maintenance. Equipment for plating, chemical mechanical polishing (CMP), exhaust gas treatment, refrigeration, heating, turbines, compressors, blowers, fans, and dry vacuum pumps are all sold by the company. On November 13, 2018, the Ebara Corporation created a brand-new dry vacuum pump technology.
· Atlas CoVacuum pumpo AB
· Becker Pumps Corporation
· Busch Vacuum Solutions
· Ebara Corporation
· Flowserve Corporation
· GlobalVac & Air
· Graham Corporation
· Ingersoll Rand
· Pfeiffer Vacuum GmbH
· ULVAC Inc.
May 2022: Atlas Copco has unveiled a new series of GHS VSD+ vacuum pumps. The brand-new GHS 1402-2002 VSD+ series pumps feature a cutting-edge new controller to support Industry 4.0 use cases, as well as a completely new design for improved performance, a reduced environmental impact, and superior oil separation. The company offers three pumping speed classes for these speed-driven screw pumps.
May 2022: Leading automotive component manufacturer Advik Hi-Tech recently announced that it has entered into an exclusive technology license deal for electric vacuum pumps used in passenger car braking systems with Entecnia, a Spanish business. Advik should be able to support OEMs entering the xEV market and help them reduce ICE car CO2 emissions thanks to the agreement.
· Dry
· Wet
· Low vacuum pumps
· Medium vacuum pumps
· High vacuum pumps
· Ultra-high vacuum pumps
· Extreme high vacuum pumps
· Automotive
· Chemical and Petrochemical
· Aerospace and Defense
· Oil and Gas
· Healthcare and Pharmaceuticals
· Others
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- U.K
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 5.4 Billion |
|
Market Size 2023 |
USD 5.8 Billion |
|
Market Size 2032 |
USD 8.2 Billion |
|
Compound Annual Growth Rate (CAGR) |
4.75% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Lubrication, Pressure, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Atlas CoVacuum pumpo AB, Becker Pumps Corporation, Busch Vacuum Solutions, Ebara Corporation, Flowserve Corporation, GlobalVac & Air, Graham Corporation, Ingersoll Rand, Pfeiffer Vacuum GmbH, ULVAC Inc. |
|
Key Market Opportunities |
Increasing automotive, healthcare, and oil & gas activities |
|
Key Market Dynamics |
Customers' investments in new production technology and growing adoption of vacuum pumps in oil & gas, power, chemical processing, oil & gas, and semiconductor industries |
The global Vacuum Pumps Market was valued at USD 5.4 billion in 2022, and it is estimated to reach USD 8.2 billion by 2032.
The global market is projected to grow at a CAGR of 4.75% during the forecast period, 2023-2032.
Asia Pacific had the largest share in the global market
The key players in the market are Brunswick Corporation, Core Health & Fitness LLC, Draper Inc., EGYM, Johnson Health Tech Co. Ltd., Les Mills International Ltd., Nautilus Inc., Paradigm Health & Wellness, Precor Incorporated (Peloton Interactive Inc.), Technogym S.p.A and TRUE Fitness Technology Inc Atlas CoVacuum pumpo AB, Becker Pumps Corporation, Busch Vacuum Solutions, Ebara Corporation, Flowserve Corporation, GlobalVac & Air, Graham Corporation, Ingersoll Rand, Pfeiffer Vacuum GmbH, ULVAC Inc.\.
The Dry Lubrication dominated the market in 2022.
The High vacuum pumps Pressure had the largest share in the global market.
Report Code :
RL65131
Published on :
Sep 2023
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