Over 86% of Vacuum Pumps Sales to be Contributed by the U.S.; Application in Oil & Gas Industry to Boost Revenue
NEW YORK, March 10, 2022 /PRNewswire/ -- In the latest market report, Fact.MR focuses on the key trends influencing the in the vacuum pumps market. It also provides compelling insights on growth drivers and opportunities through leading segments including pump type, lubrication, application, mechanism, pressure, flow, end use vertical, and regions.
Fact.MR - A Market Research and Competitive Intelligence Provider: The vacuum pumps market is anticipated to surpass US$ 719.09 Mn in 2022, growing at a CAGR of 7% during the forecast period (2022-2032). The overall demand in the market is projected to reach a market valuation of US$ 1,415 Mn.
Increasing use of vacuum pumps for drying, evaporation, assembling, material handling, and others will drive the sales in the market over the coming years. Apart from this, growing demand for suction pumps for mechanical ventilators among the healthcare providers and equipment manufacturers will further create lucrative growth opportunities for the market.
High demand for vacuum pumps across diverse industries including agriculture, food processing, packaging, pharmaceutical, mining, and others is anticipated to increase the sales two-fold in the upcoming decade.
Growing use of solar panels, and 4G and 5G network testing is increasing the demand for vacuum pumps in semiconductors and electronics industries. This, in turn, is boosting the market.
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Furthermore, vacuum pumps are essential in ensuring the quality of food and for aseptic packaging of food products. Hence, stringent government regulations imposed for food packaging safety and quality are likely to increase the demand for vacuum pumps in food and beverages industry.
According to the U.S. Food and Drug Administration (FDA), sterility testing is a part of the stability protocol including human drugs, biologics, and others as per the stringent regulations under the Container and Closure System Integrity Testing. This is anticipated to boost the demand for vacuum pumps for aseptic packaging.
Report Attributes | Details |
Estimated Year Value (2022E) | US$ 719.09 Mn |
Projected Year Value (2032F) | US$ 1,415 Mn |
Global Growth Rate (2022-2032) | CAGR 7% |
Key Takeaways:
- In terms of end use, the chemical & petrochemical segment is projected to register growth at a CAGR of 7.5% during the forecast period.
- Based on lubrication-type, dry vacuum pumps are estimated to reach US$ 360 Mn by 2032 owing to increasing cases of oil contamination in various application areas.
- In the pump type segment, the regenerative application vacuum pumps is anticipated to exhibit growth at a CAGR of 8% by 2032.
- China is estimated to hold 45% of the overall share due to the rising investments in the electronics & semiconductor and pharmaceutical industries.
- Germany vacuum pumps market is projected to expand at a CAGR of 4.5%, leading the growth in Europe.
- The U.S. is expected to account for 86% of the market share in 2022 on the back of increasing application of vacuum pumps in oil & gas, semiconductor, and other sectors.
Growth Drivers:
- Growing focus on energy consumption in oil and gas industry will fuel the demand for liquid vacuum pumps
- Rising development of smart cities and proliferation of IoT applications, will broaden the scope for the vacuum pumps in the coming years.
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Competitive Landscape:
As per Fact.MR, the market is moderately fragmented. Tier-1 players including Atlas Copco, Edwards, and Gardner Denver will hold majority of market share through 2022.
Prominent manufacturers operating in the global vacuum pumps market strengthening their global footprints by increasing their manufacturing capabilities. Some of the manufacturers are updating their product line to gain competitive edge in the market.
For instance,
- January 2022: Atlas Copco acquired HHV Pumps Pvt. Ltd, which is a manufacturer specializing in the design and fabrication of vacuum pumps and systems deployed in numerous industrial applications.
- August 2021: EDS designed the best dry screw vacuum pump with contaminant handling capabilities even in harsh chemical and industrial environments. This EDS range of pumps is available in both water-cooled and air versions.
Key Companies Profiled by Fact.MR
- Atlas Copco
- Ebara Corporation
- Busch Vacuum Solution
- Edwards (Atlas Copco)
- Leybold GmbH
- ULVAC
- Becker Pumps Corporation
- Garder Denver Inc. (Ingersoll Rand)
- Gebr. Becker GmbH
- Pfeiffer Vacuum GmbH
- KNF Neuberger Inc.
- Sihi Group B.V (Flowserve)
- Tuthill Corporation
- Vooner FloGard Corporation
More Valuable Insights on Vacuum Pumps Market
Fact.MR, in its report, offers a market analysis on the global vacuum pumps market providing unbiased analysis for the forecast period of 2022 to 2032. This survey also reveals the growth of technology in the vacuum pumps market with detailed segmentation as follows:
By Pump Type
- Positive Displacement Vacuum Pumps
- Liquid Ring Vacuum Pumps
- Rotary Screw Pumps
- Rotary Root Pumps
- Dry Vacuum Pumps
- Dry Screw Vacuum Pumps
- Dry Scroll Vacuum Pumps
- Dry Diaphragm Vacuum Pumps
- Dry Clan & Hook Pumps
- Others
- Centrifugal Vacuum Pumps
- Momentum Transfer Vacuum Pumps
- Rotary Vane Vacuum Pumps
- Turbo Molecular Vacuum Pumps
- Regenerative Application Vacuum Pumps
By Lubrication
- Dry Vacuum Pumps
- Wet Vacuum Pumps
By Application
- Assembly
- Conveying
- Dehydration/Drying
- Engine Testing
- Evaporation & Distillation
- Filling
- Holding/Chucking
- Manufacturing
- Material Handling
- Thermoforming
- Other Applications
By Mechanism
- Gas Transfer Vacuum Pump
- Gas Binding Vacuum Pump
By Pressure
- Rough Vacuum Pumps (10.3 mbar-1 mbar)
- Medium Vacuum (Pumps 1 mbar-10-3 mbar)
- High Vacuum Pumps (10-3mbar-10-7 mbar)
- Ultra-High Vacuum Pumps (10-7 mbar-10-12 mbar)
- Extreme High Vacuum Pumps (less than 10-12 mbar)
By Flow
- Vacuum Pumps Upto 85 ACFM
- Vacuum Pumps Upto 150 ACFM
- Vacuum Pumps Upto 550 ACFM
- Vacuum Pumps Upto 1500 ACFM
- Vacuum Pumps Upto 4500 ACFM
- Vacuum Pumps Upto 8500 ACFM
- Vacuum Pumps Upto 15000 ACFM
- Vacuum Pumps Upto 17000 ACFM
By End Use Vertical
- Aerospace & Defense
- Automotive
- Chemical & Petrochemical
- Electronics & Semiconductors
- Food & Beverage
- Healthcare & Pharmaceuticals
- Mining & Construction
- Oil & Gas
- Packing
- Power Generation
- Other End User Verticals
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Key Questions Covered in the Vacuum Pumps Market Report
- Which are the key trends boosting global vacuum pumps market?
- At what rate is global vacuum pumps market expected to grow during the forecast period (2022-2032)?
- What was the market revenue of the vacuum pumps market in 2021?
- Which region holds the largest share in the global vacuum market?
- What is the expected market valuation of the vacuum pumps market during 2022-2032?
- Who are the leading players operating in the global vacuum market?
Explore Fact.MR's Coverage on the Industrial Goods Domain
Oil Refining Pumps Market Trends - Rising power demand and a heavy reliance on oil in developing nations has led to the construction of oil refineries, which has boosted sales of oil refining pumps. Oil refining pumps integrated with new technology are expected to gain popularity in oil refineries.
Reciprocating Pumps Market Forecast - The market for reciprocating pumps is expected to rise significantly. The global need for oil and gas, particularly in the petrochemical industry, is influencing the expansion of the reciprocating pumps market.
Canned Motor Pumps Market Scope - Due to interrupted operations in end-use sectors, demand for canned motor pumps has decreased dramatically. In the worldwide canned motor pumps market, reverse circulation canned motor pumps had the majority of the market share.
Rotary Pumps Market Insights - In most developing countries, increasing access to water and the importance of sanitation is creating various chances for rotary pump market players. Furthermore, rising consumer disposable income is causing an increase in discretionary expenditure, particularly on chemicals and fuel, which is driving up demand for rotary pumps in developing countries.
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