Vacuum Pumps Market Expands with Solution Segment at a robust CAGR of 6.42%
The increasing global Vacuum Pumps market is driven by rising
industrial applications in packaging, evaporation, and drying application during
the forecast period 2025-2029
According to TechSci Research report, “Global Vacuum Pumps Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029, The
Global Vacuum Pumps Market stood at USD5,480.21 million in 2023 and is expected
to register a CAGR of 6.42% during the forecast period. One of the primary
drivers behind the market's growth is the rapid evolution of technology.
Manufacturers of vacuum pumps are consistently innovating to improve the
efficiency and performance of their products. The integration of smart
technologies, automation, and Industry 4.0 principles has resulted in the
development of advanced vacuum pumps that offer higher precision, reliability,
and energy efficiency. These technological advancements not only meet the
existing demand but also create new opportunities in emerging industries.
The Global Vacuum Pumps Market is
driving on account of rising industrial
applications in packaging, evaporation, and drying application in private
sector such as food & beverage industry. Technology has become the key
enabler of excellence and businesses are gradually adopting advance
technologies due to business export-import expansion along with the rising
adoption of smart technology and increasing demand for emerging IoT-based
technology are further enabling customers to adopt advance vacuum pumps systems.
Moreover, the easy availability of low and medium pressure based vacuum pumps
and increasing use of electric vacuum pumps in the automotive cleaning has
enabled vendors to reduce fuel consumption and lead to decrease in vehicle
emission. Furthermore, vacuum pumps assist various organizations such as
pharmaceuticals industries in enhancing performance, better working conditions,
lower maintenance cost, save valuable time of operation and industries
expenditures, lower power consumption, increases production, after sales
services, and reliability. Thus, increasing in demand for efficient vacuum
pumps devices are some of the key driving factors leading to growth of the
global vacuum pumps market.
Browse over 162 market data Figures
spread through 238 Pages and an in-depth TOC on the "Global VacuumPumps Market"
Based on lubrication, the dry vacuum
pumps segment is expected to dominate in the global vacuum pumps market. The
high growth of this segment is attributed to the growing activities of oil
& gas industries by the authorities. Dry vacuum pumps reduce the contamination
from oil and other substances to offer more purity. Additionally, they require
less maintenance, as they don’t need their oil changed as regularly. Moreover,
the dry vacuum pumps are the newest development in the vacuum pumps industry.
These pumps offer a numerous advantage over the traditional vacuum pump and wet
pumping technologies for pharmaceutical and chemical processing. The
breathtaking benefits of industrial and chemical duty dry vacuum pumps
applications such as regenerative blowers, dry rotary vane vacuum pumps,
multi-lobe dry vacuum pumps are enabling the growth of dry vacuum pumps.
Moreover, the clean, reliable, low to high vacuum and minimal maintenance
advantages are growing the demand of dry vacuum pumps apart from other
technology devices. Furthermore, enterprises like food industries are deploying
and utilizing these devices to ensure product freshness and improve sanitation
procedures. Thus, leading to the high adoption of dry vacuum pumps enabling the
growth of vacuum pumps market.
Based on Region, Asia Pacific dominate
the market. The vacuum pumps market in the Asia-Pacific region is significantly
influenced by increased investments in key end-user sectors such as oil and
gas, chemical, and power generation. Abundant oil sands in countries like China
and India further contribute to this market.
Notably, China's Vacuum Pumps Market
holds the largest market share, while the Indian Vacuum Pumps Market exhibits
the highest growth rate in the Asia-Pacific region. Furthermore, in March 2022,
China Petroleum & Chemical Corp, also known as Sinopec, announced its
intention to make its largest capital investment in history for 2022, aligning
with Beijing's call for energy companies to ramp up production. Sinopec plans
to invest USD 11.41 billion in upstream exploitation, focusing on natural gas
fields in Sichuan province the Inner Mongolia region.
Additionally, in March 2022, Ingersoll
Rand launched the new SVT Series of high-efficiency, high-capacity
oil-lubricated rotary screw vacuum pumps under its specialist vacuum brand,
Elmo Rietschle. These vacuum pumps are specifically designed for industries
such as electronics and food & beverage.
Key market players in the global Vacuum
Pumps market are: -
- Atlas Copco AB
- Flowserve Corporation
- Pfeiffer Vacuum Technology AG
- Ingersoll Rand Inc.
- Ebara Corporation
- Graham Manufacturing
- ULVAC, Inc.
- Sulzer Ltd
- Busch Group
- Gebr. Becker GmbH
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“The global vacuum pumps market is
propelled by several key drivers shaping its growth. The semiconductor and
electronics industry remains a major force, demanding vacuum pumps for precise
manufacturing processes. Additionally, a heightened focus on sustainability
enhances the significance of vacuum pumps, especially with the rising adoption
of eco-friendly solutions. Technological advancements, including the
integration of Industry 4.0 concepts, contribute to increased efficiency and
smart functionalities. The healthcare sector, reliant on vacuum pumps for
various applications, further stimulates market expansion. Moreover,
globalization and the expansion of manufacturing activities in emerging markets
provide new opportunities. Energy efficiency concerns, compliance with
environmental regulations, and continuous innovations in vacuum pump
technologies collectively drive the market's upward trajectory, meeting the
evolving needs of diverse industries ” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Vacuum Pumps Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast, Segmented By Lubrication (Dry Vacuum Pumps and Wet Vacuum Pumps),
By Mechanism (Gas Transfer Vacuum Pumps and Gas Binding Vacuum Pumps), By
Pressure (Low Vacuum Pumps, Medium Vacuum Pumps, High Vacuum Pumps, Ultra-High
Vacuum Pumps and Extreme-High Vacuum Pumps), By End-User (Aerospace &
Defense, Automotive, Chemical & Petrochemical, Electronics &
Semiconductors, Food & Beverage, Healthcare & Pharmaceuticals, and
Other), By Region, and By Competition, 2019-2029,”
has evaluated the future growth potential of Global Vacuum Pumps Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Vacuum Pumps Market.
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