Overview and Scope
A vacuum pump is a device that removes gas molecules from a sealed volume to create a partial vacuum. The main purpose of a vacuum pump is to reduce the pressure within a system, which can be useful in various applications across multiple industries, including manufacturing, scientific research, and medical fields. These pumps enable processes that require low-pressure environments, such as electron microscopy, semiconductor fabrication, and vacuum packaging.
Sizing and Forecast
The vacuum pumps market size has grown strongly in recent years. It will grow from $5.20 billion in 2023 to $5.50 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to the emergence of new end-use industries, pharmaceutical developments, chemical industry growth, energy sector needs, and increasing environmental regulations.
The vacuum pumps market size is expected to see strong growth in the next few years. It will grow to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to the expansion of the semiconductor industry, energy sector expansion, development of emerging markets, increasing research and development activities, and growing focus on energy efficiency and sustainability. Major trends in the forecast period include industry 4.0 integration, the development of energy-efficient vacuum pumps utilizing advanced materials, a trend towards miniaturized vacuum pumps, advancements in high vacuum technologies, and the integration of Internet of Things (IoT) technology into vacuum pumps.
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Segmentation & Regional Insights
The vacuum pumps market covered in this report is segmented –
1) By Pump Type: Positive Displacement, Dry Vacuum, Centrifugal, Momentum Transfer
2) By Mechanism: Gas Transfer, Gas Binding
3) By Pressure: Low Vacuum Pumps, Medium Vacuum Pumps, High Vacuum Pumps, Ultra-High Vacuum Pumps, Extreme High Vacuum Pumps
4) By End-User: Automotive, Chemical And Petrochemical, Aerospace And Defense, Oil And Gas, Healthcare And Pharmaceuticals, Other End-Users
Asia-Pacific was the largest region in the vacuum pumps market in 2023. The regions covered in the vacuum pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising food and beverage industry is expected to propel the growth of the vacuum pumps market going forward. The food and beverage industry encompasses the production, processing, packaging, and distribution of food and drink products for consumption. The food and beverage industry is increasing due to shifting consumer preferences towards convenience foods, growing demand for healthy and organic options, and an expanding global population driving consumption. Vacuum pumps are utilized in the food and beverage industry to extend shelf life and maintain product quality by removing air and preventing oxidation during packaging and processing. For instance, in May 2021, according to the Australian Bureau of Statistics, an Australian government statistical agency, sales of food and non-alcoholic beverages in Australia’s supermarkets, grocery stores, convenience stores, and specialty food stores amounted to 15.1 million metric tons in the fiscal year 2021–22, showing a surge compared to the 14.8 million metric tons sold in the preceding fiscal year of 2020–21. Therefore, the rising food and beverage industry is driving the growth of the vacuum pumps market.
Key Industry Players
Major companies operating in the vacuum pumps market are Atlas Copco AB, Agilent Technologies Inc., Ebara Corporation, Gardner Denver Holdings Inc., ULVAC Technologies Inc., Busch Vacuum Solutions, Pfeiffer Vacuum GmbH, Leybold GmbH, Anest Iwata Corporation, KNF Neuberger GmbH, Graham Corporation, Tuthill Corporation, Becker Pumps Corporation, VACUUBRAND GMBH + CO KG, Dekker Vacuum Technologies Inc., Gast Manufacturing Inc., Osaka Vacuum Ltd., Welch Vacuum Technology Inc., Wenling Tingwei Vacuum Equipment Co. Ltd, Kashiyama Industries Ltd.
The vacuum pumps market report table of contents includes:
1. Executive Summary
2. Vacuum Pumps Market Characteristics
3. Vacuum Pumps Market Trends And Strategies
4. Vacuum Pumps Market – Macro Economic Scenario
5. Global Vacuum Pumps Market Size and Growth
…
32. Global Vacuum Pumps Market Competitive Benchmarking
33. Global Vacuum Pumps Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Vacuum Pumps Market
35. Vacuum Pumps Market Future Outlook and Potential Analysis
36. Appendix
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