Redding, California, May 11, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Vacuum Pumps Market by Type (Gas Transfer Pumps, Gas Bindings/Entrapment Pumps), Lubrication (Dry Vacuum Pumps, Wet Vacuum Pumps), Pressure, End-use Industry and Geography - Global Forecasts to 2030”, the vacuum pumps market is projected to reach $7.57 billion by 2030 from an estimated $5.51 billion in 2023, at a CAGR of 4.6% during the forecast period of 2023 to 2030.
The growth of the vacuum pumps market is driven by the rising adoption of vacuum pumps in the mining industry, the growing significance of vacuum pumps in the chemicals industry and the growth in the automotive sector. However, the high power consumption of vacuum pumps restrains the growth of this market. The rising adoption of vacuum pumps for seawater desalination and the growing importance of vacuum pumps in the photovoltaics value chain are expected to create growth opportunities for the players operating in this market. However, the improper installation of vacuum pumps is a major challenge for market growth.
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The global vacuum pumps market is segmented by type, lubrication, pressure, end-use industry, and geography. The study also evaluates industry competitors and analyses the country and regional-level markets.
Based on type, the global vacuum pumps market is segmented into gas transfer pumps, gas binding/entrapment pumps, and other vacuum pumps. In 2023, the gas transfer pumps segment is expected to account for the largest share of the global vacuum pumps market. The large market share of this segment is attributed to highly efficient applications that require a high level of vacuum, low maintenance cost, and the easy-to-operate nature of these pumps in operations such as chemical processing and vacuum deposition processes, among others.
Based on lubrication, the global vacuum pumps market is segmented into dry and wet vacuum pumps. In 2023, the wet vacuum pumps segment is expected to account for the larger share of the global vacuum pumps market. The large market share of this segment is attributed to its high pumping speeds, growing demand in various industries such as chemical processing and pharmaceuticals, and the economic and cost-effective nature of these pumps.
Based on pressure, the global vacuum pumps market is segmented into rough vacuum (1 bar to 1 mbar), medium vacuum (1 mbar to 10–3 mbar), high vacuum (10–3 mbar to 10–7 mbar), ultra-high vacuum (10–7 mbar to 10–12 mbar), and extreme high vacuum (more than 10–12 mbar). In 2023, the high vacuum (10–3 mbar to 10–7 mbar) segment is expected to account for the larger share of the global vacuum pumps market. The pressure levels reached by these types of pumps are higher than any other rotary vane pump contributing to the large market share of this segment.
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Based on end-use industry, the global vacuum pumps market is segmented into electronics & semiconductors, aerospace & defense, chemicals, automotive, healthcare, food & beverage, industrial manufacturing, oil & gas, mining, construction, energy & utilities and other end-use industries. In 2023, the oil & gas segment is expected to account for the largest share of the global vacuum pumps market. This segment's large market share is attributed to the growing need to boost the low-pressure gas from a wellhead to a high-pressure pipeline, increasing demand for oil, gas & petrochemicals, and huge adoption of vacuum pumps across oil-producing countries such as Saudi Arabia, UAE, and Russia.
Based on geography, the vacuum pumps market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global vacuum pumps market. The growth of this market is attributed to the technological advancements in vacuum pumps and the growing demand for vacuum pumps in emerging economies due to increasing manufacturing activities in several industries such as pharmaceuticals, automotive and chemicals.
The key players operating in the global vacuum pumps market are Atlas Copco AB (Sweden), Gebr. Becker GmbH (Germany), Flowserve Corporation (U.S.), Graham Corporation (U.S.), Ingersoll Rand Inc. (U.S.), EBARA CORPORATION (Japan), ULVAC, Inc. (Japan), Pfeiffer Vacuum Technology AG (Germany), Agilent Technologies Inc. (U.S.), Shimadzu Corporation (Japan), Kashiyama Industries, Ltd. (Japan), Wenling Tingwei Vacuum Equipment Co., Ltd (China), VACUUBRAND GMBH + CO. KG (Germany), Gast Manufacturing, Inc. (U.S.), KNF DAC GmbH (Germany), Busch Dienste GmbH (Germany), and GlobalVac & Air (U.S.).
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Scope of the Report
Vacuum Pumps Market, by Type
- Gas Transfer Pumps
- Gas Binding/Entrapment Pumps
- Other Vacuum Pumps
Vacuum Pumps Market, by Lubrication
- Dry Vacuum Pumps
- Wet Vacuum Pumps
Vacuum Pumps Market, by Pressure
- Rough Vacuum (1 Bar to 1 Mbar)
- Medium Vacuum (1 Mbar to 10–3 Mbar)
- High Vacuum (10–3 Mbar to 10–7 Mbar)
- Ultra-high Vacuum (10–7 Mbar to 10–12 Mbar)
- Extreme High Vacuum (More than 10–12 Mbar)
Vacuum Pumps Market, by End-use Industry
- Electronics & Semiconductors
- Aerospace & Defense
- Chemicals
- Automotive
- Healthcare
- Food & Beverage
- Industrial Manufacturing
- Oil & Gas
- Mining
- Construction
- Energy & Utilities
- Other End-use Industries
Vacuum Pumps Market, by Geography
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Rest of Asia-Pacific
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
Quick Buy – Vacuum Pumps Market- Global Opportunity Analysis and Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/14622629
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