VACUUM PUMP MARKET ANALYSIS

The global vacuum pump market size was valued at USD 6.07 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 7.29% from 2022 to 2030. The vacuum pumps market is expected to grow at a significant rate during the forecast period due to the increasing need for efficient equipment, growing oil and gas production, and rising government investments in research and development. Moreover, the rise in electrification of mechanical components and the rise in e-mobility will drive the demand for vacuum pumps across the globe. 

Global Vacuum Pump Market: Regional Insights

The global vacuum pump market is regionally divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America among regions is anticipated to exhibit strong growth in the global vacuum pump market over the forecast period, owing to rise in investments in the end-user industries such as power generation, chemical, and oil & gas, due to growing production of natural gas. Moreover, the booming shale gas in the U.S. and stabilization in the cost of oil are boosting the use of vacuum pimps in the oil & gas and chemical industries. Thus, the regions is anticipated to witness substantial growth in the global vacuum pump market over the forecast period.

Furthermore, Europe is projected to witness significant growth in the global vacuum pump market over the forecast period. This is due to growing demand for energy along with rise in awareness regarding environment leading to increased demand for novel technologies in energy storage applications. This is resulting into rise in investments into new technologies as well as advanced production processes in the energy field. Thus, the global vacuum pump market is likely to witness strong growth in this region.

Figure 1: Global Vacuum Pump Market Share (%), By Region, 2022

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Global Vacuum Pump Market Drivers:

Growing popularity of MEMS technology to propel the market growth

MEMS is microscopic device structure combining optical, mechanical, and fluidic elements with electronics. This granular device consists various moving structures that are integrated with microelectronics. Over the past few years, the MEMS technology has advanced further and is increasingly being adopted for commercial use in medical and automotive industries. They are utilized in automobile applications as pressure transducers primarily in manifold air-pressure sensing. Thus, due to various benefits of this technology, its popularity is increasing among several industries, this in turn is expected to fuel growth of the global vacuum pump market over the forecast period.

Growing demand for dry vacuum pumps to fuel the market pace

There are various benefits of using dry vacuum pump technology. It offers measurable, clear advantages in variety of important applications. Use of a dry screw vacuum pump with a proper design can ensure the processing requirements are completed with reliable, safe, and cost-effective solution. Moreover, these pumps need no oil or water for lubrication or sealing during the vacuum stages. These systems consequently eliminate effluent generation, high treatment costs, and pollution. Thus, demand for dry vacuum pumps is increasing, which is likely to support growth of the global vacuum pump market over the forecast period.

Global Vacuum Pump Market Opportunities:

Increasing number of governments focusing on promoting use of electric and hybrid vehicles running on biofuels is expected to create growth opportunities in the global vacuum pump market over the forecast period. Due to increasing greenhouse emissions, governments around the world are introducing EVs and vehicles running on biofuels. For instance, as per the Energy Information Administration, in 2020, there was an increase in the production volume of biodiesel. It increased to 1,807 million gallons from 1,735 million gallons in 2019. This in turn is creating the need for vacuum pumps, which creates various opportunities for growth in the market.

Moreover, rapid growth of beverage industry worldwide, especially in alcoholic sector is also anticipate to provide business opportunities in the global vacuum pump market over the forecast period. The need for vacuum pumps is increasing in beverage industry, specifically in alcoholic sector for drying and extracting water in different processes. For instance, as per the International Organization of Vine and Wine, the wine production increased in Europe during the pandemic. The production of wine in Italy was 49.1 million hectoliters, followed by France with 46.6 million hectoliters and Spain with 40.7 million hectoliters. Thus, these factors are creating lucrative environment for growth opportunities in the global vacuum pump market.

Global Vacuum Pump Market Trends:

Growing adoption of consumer electronics is a major trend

Electronics such as smartphones, laptops, and other gadgets is increasing around the world along with the digitization across several industries. As a result, demand for semiconductor manufacturing has increased significantly. This is further creating demand for vacuum pumps, as vacuum in the chip manufacturing facilities has an important role, as they are manufactured carefully under low pulsation, vibration, and dustproof environment. This trend is expected to continue in the global vacuum pump market in the coming future.

Launch of advanced pumps by vendors is gaining traction in the market

In order to cater the industrial needs, vendors are increasing launching advanced vacuum pumps. For instance, in June 2021, Leybold introduced a novel dry screw vacuum pump. The high-energy efficient DRYVAC DC 500 and the more powerful DV 800 feature a screw design. It requires no operating lubricant. Thus, launch of such advanced pumps by vendors is a growing trend in the global vacuum pump market, which is expected to fuel growth of the market over the forecast period.

Global Vacuum Pump Market Restraints:

High cost vacuum pump to hamper the market pace

The installation costs of vacuum pumps are majorly high. Even with one of the cheapest and oldest technologies of oil-lubricated rotary vane pumps in the market, the cost of installation of these pumps is more than an oil-lubricated unit. Moreover, the cost of touchless pump technology is also significantly high. Moreover, the need for maintenance also adds into the overall cost of these pumps, and thus, these factors are expected to hinder growth of the global vacuum pump market over the forecast period.

Issues related compatibility of vacuum pumps to obstruct the market growth

Several companies opt for use of vacuum pumps; however, they may not be compatible with existing infrastructure of the facility. Due to this, companies hesitate from choosing technological advanced vacuum pumps that are compatible with connected devices, and are connected with the use of technologies such as AI and IoT. This in turn impacts adoption of vacuum pumps adversely, which is likely to restrain growth of the global vacuum pump market. However, now vendors are focusing on developing solutions to overcome this shortcoming with the launch of novel products, which is likely to support the market growth.

Figure 2: Global Vacuum Pump Market Share (%), By Type, 2022  

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Global Vacuum Pump Market Segmentation:

The global vacuum pump market report is segmented into Type, and End-User Application.

Based on Type, the market is segmented into Rotary Vacuum Pumps, Reciprocating Vacuum Pumps, Kinetic Vacuum Pumps, Dynamic Pumps, and Specialized Vacuum Pumps. Out of which, Rotary Vacuum Pumps is expected to dominate the global market over the forecast period and this is attributed to the growing use of different types of rotary vacuum pumps in various applications across multiple industries. Rotary vane pumps for instance offer uniform discharge with minor pulsations, and provide constant delivery at a given speed. These are utilized in aircraft industry along with various other sectors.

Reciprocating Vacuum Pumps segment is also expected to witness significant growth in the near future and this is owing to the various benefits offered by different types of reciprocating vacuum pumps. Increase in the development of the semiconductor manufacturing industry and the electronics equipment industry, the demand for these pumps is increasing, which in turn is supporting growth of the segment.

Based on End-User Application, the market is segmented into Oil and Gas, Electronics, Medicine, Chemicals, Food and Beverage, Power Generation, and Other End-user Applications. Out of which, Oil & Gas is expected to dominate the global market over the forecast period and this is attributed to the increasing growth of Oil & Gas industry across the world. Vacuum pumps are used in this industry for exploration, refinement, extraction, and distribution. With rise in growth of this industry, demand and application of vacuum pumps is rising in the industry, which is driving growth of the segment.

Electronics segment is also expected to witness significant growth in the near future and this is owing to the rapid technological advancements in consumer electronics such as computers, mobile phones, and tablets. The rise in purchasing power of middle-income populations across the globe for such electronics is driving the demand for consumer electronics, which is further fueling growth of the segment.

Global Vacuum Pump Market: Key Developments

In February 2020, Ingersoll Rand Inc., announced the merger of its Industrial segment with Gardner Denver Holdings Inc. Under this merger both the companies would be offered with combined company produce mission-critical flow creation systems, which also includes pumps, air compressors, blowers and the Club Car brand of EVs and systems for loading, material handling, and fluid management.

In April 2020, Busch Vacuum Solutions Israel announced that it provided Vacuum Pumps for a Hospital in Palestine with urgently required vacuum technology, during the COVID-19 pandemic, as hospitals are facing accommodation issues with rise in number of patients requiring intensive medical care.

In January 2021, Busch Vacuum Solutions announced a Screw Vacuum Pump for Arc PVD Coatings, which makes use of various diffusion layer treatments such as nitrocarburizing, nitriding, or oxidizing, and coating techniques.

In May 2021, Pfeiffer Vacuum GmbH launched a novel corrosive gas version of the diaphragm pump, which features a gas ballast valve and excellent condensate and chemical compatibility.

Global Vacuum Pump Market: Key Companies Insights

The global vacuum pump market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis.

Some of the key players in the global vacuum pump market are Tsurumi Manufacturing Co. Ltd., Ingersoll Rand Inc., Wintek Corporation, Atlas Copco AB, Ebara Corporation, Flowserve Corporation, Becker Pumps Corporation, Busch Vacuum Solutions (Busch group), Global Vac, Pfeiffer Vacuum GmbH (Pfeiffer Vacuum Technology AG), Graham Corporation, and ULVAC Inc.

*Definition:

Vacuum pumps are the devices that remove air and gas molecules from a sealed volume to create a vacuum. They can be used to generate rough vacuums, intermediate vacuums or ultra-high vacuums in different applications.