Vacuum pump is a mechanical device, which facilitates the removal of gas and air molecules from an enclosed area to create a space free of gas or air. Its key functions are to clean and seal. Vacuum pumps are available in dry and wet versions depending on the pressure and medium being pushed through them. The vacuum pumps pressure has various ranges, including low vacuum, medium vacuum, high vacuum, ultrahigh, and extreme high vacuum. These pumps are widely adopted in automotive, healthcare, chemical, oil & gas, petrochemical, and pharmaceuticals sectors.
The use of vacuum chambers by aircraft engineers allows them to imitate heights by converting them to absolute pressure. The ability to conduct a variety of vacuum testing makes vacuum pumps valuable to aerospace engineers. The test technique or the component being tested are often the focus of many of these tests. Hence, rising investment in aerospace and defense sector will drive the vacuum pumps market growth. Moreover, Vacuum pumps are used in the pharmaceutical industry in various manufacturing stages, including distillation, sublimation, degassing, drying, crystallization, and filling. In addition, an increase in oil & gas activities around the globe is likely to propel market growth. For instance, the Organization of the Petroleum Exporting Countries (OPEC) reveled that global oil production will reach around 109 million barrels per day till the year 2045. Hence, such factors are expected to provide lucrative growth of the vacuum pumps market.
The global vacuum pump market is segmented into lubrication, pressure, end user, and region. On the basis of lubrication, the market is divided into dry vacuum pumps and wet vacuum pumps. Depending on the pressure, it is divided into low vacuum medium vacuum, high vacuum, ultrahigh vacuum, and extremely high vacuum. On the basis of end-user, the market is segregated into automotive, chemical & petrochemical, aerospace & defense, oil & gas, healthcare & pharmaceutical, and others. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
COMPETITION ANALYSIS
The key players that are operating in the vacuum pumps industry are Atlas Copco, Becker Pumps Corporation, Busch Vacuum Solutions (Busch Group), Ebara Corporation, Flowserve Corporation, GlobalVac & Air, Graham Corporation, Ingersoll Rand, Pfeiffer Vacuum GmbH, and ULVAC Inc.KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vacuum pumps market analysis from 2021 to 2031 to identify the prevailing vacuum pumps market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the vacuum pumps market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global vacuum pumps market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Lubrication
- Dry
- Wet
By Pressure
- Low vacuum pumps
- Medium vacuum pumps
- High vacuum pumps
- Ultra-high vacuum pumps
- Extreme high vacuum pumps
By End user
- Automotive
- Chemical and Petrochemical
- Aerospace and Defense
- Oil and Gas
- Healthcare and Pharmaceuticals
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- 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.
Please note:
- Online Access price format is valid for 60 days access. Printing is not enabled.
- PDF Single and Enterprise price formats enable printing.
Table of Contents
Executive Summary
According to the report, titled, “Vacuum pumps Market," the vacuum pumps market size was valued at $5.4 billion in 2021, and is estimated to reach $9.3 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.Vacuum pumps are available in various types, including rotary vacuum pumps and reciprocating vacuum pumps. They are applicable in various end-use sectors such as automotive, healthcare, chemical, oil & gas, and pharmaceuticals.
Depending on lubrication, the vacuum pumps market is divided into dry and wet vacuum pumps. The dry vacuum pumps segment dominated the global market in terms of revenue in 2021. Dry vacuum pumps require low maintenance as no oil changes are required. Hence, they exhibit minimal downtime due to less maintenance, which is expected to drive the segment growth. Moreover, an increase in investments in the end-user industries such as oil & gas, power generation, chemical, and automotive is anticipated to create remunerative opportunities for the growth of the vacuum pumps market.
Asia-Pacific dominated the global market in terms of revenue in 2021, due to the rapid expansion of the automotive, chemical, healthcare, and oil & gas sectors. In the healthcare sector, the key function of a vacuum pump is to deliver vacuum pressure for aspiration and to ensure that both patient rooms and surgery rooms are safe and efficient. Vacuum technology is further pivotal for the sterilization of medical equipment as well as the use of X-ray tubes in high vacuum conditions. In addition, the surge in investment in the healthcare sector is likely to drive the vacuum pumps market growth in Asia-Pacific. For instance, in the Economic Survey of 2022, India’s public expenditure on healthcare was 2.1% of GDP in 2021-22 against 1.8% in 2020-21.
Vacuum pumps are widely adopted in the automotive sector, as they reduce load, which is applied to the brake pedal for breaking effect. Moreover, they offer vacuum assistance while applying breaks. Hence, expansion of the automotive industry in Asia-Pacific is driving the market growth. For instance, in May 2022, Toyota Group invested $624 million to make electric vehicles and their parts in India. Such factors are driving the vacuum pumps market forecast period.
However, during the COVID-19 pandemic, various manufacturers in the vacuum pumps market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of vacuum pump companies. In addition, a lack of manpower and raw materials constricted the supply of equipment for vacuum pumps system, which negatively influenced the growth of the market. Conversely, the reopening of production facilities and the introduction of vaccines for coronavirus disease are anticipated to lead to the re-opening of the vacuum pump companies.
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging global vacuum pumps market trends and dynamics.
- Depending on lubrication, the dry vacuum pumps segment dominated the vacuum pumps market, in terms of revenue in 2021, and is projected to grow at a significant CAGR during the forecast period.
- By pressure, the medium vacuum segment registered the highest revenue in 2021.
- By end user, the chemical and petrochemical segment has registered the highest vacuum pumps market share in 2021.
- Asia-Pacific is projected to register the highest growth rate in the coming years.
- The key players within the global vacuum pumps market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the vacuum pumps industry.
- The report provides an extensive analysis of the current trends and emerging vacuum pumps market opportunities of the market.
- In-depth global vacuum pumps market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
Companies Mentioned
- 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.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 225 |
Published | July 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 5438.8 million |
Forecasted Market Value ( USD | $ 9334.2 million |
Compound Annual Growth Rate | 5.5% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |