Press release
Vacuum Pumps Market Report 2022: Analysis of Rising Business Opportunities with Prominent Investment Ratio by 2027
Vacuum Pumps Market
In the past decade, consumer electronics products including smartphones, watches, laptops and various IoT products have witnessed exponential growth. This robust adoption of smart electronics has permanently transformed the lifestyle of a large section of the population. Most of these technologies depend heavily on semiconductors whose production is significantly impacted by vacuum pumps.
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Booming Semiconductor Market to Surge Demand for Vacuum Pumps
In the recent past, steady growth in the semiconductor market has created a favorable environment in the global vacuum pumps market. Given vacuum pumps' importance in the semiconductor production process, growth in the vacuum pumps market is tied to the positive developments in the semiconductor market. Semiconductor devices are extensively used in the modern automotive and consumer electronics industry.
Moreover, as manufacturers race to embrace frontier technologies, the consumer electronics industry is likely to witness an increase in demand for efficient vacuum pumps. In the years to come, the need for advanced semiconductors is predicted to rise due to the consistently growing reliance on advanced technologies such as 5G, cloud, IoT, autonomous driving, and AI. All these developments are speculated to create fruitful opportunities in the global vacuum pumps market.
Global Vacuum Pumps Market is Segmented as Below:
By Product
• Low vacuum pumps
i. Chemical & Pharmaceutical
ii. Semiconductor & Electronics
iii. Oil & Gas
iv. Food & Beverages
v. Wood, Paper & Pulp
vi. Others
• Medium Vacuum Pumps
i. Chemical & Pharmaceutical
ii. Semiconductor & Electronics
iii. Oil & Gas
iv. Food & Beverages
v. Wood, Paper & Pulp
vi. Others
• High Vacuum Pumps
i. Chemical & Pharmaceutical
ii. Semiconductor & Electronics
iii. Oil & Gas
iv. Food & Beverages
v. Wood, Paper & Pulp
• Others
By Industry
• Chemical & Pharmaceutical
• Semiconductor & Electronics
• Oil & Gas
• Food & Beverages
• Wood, Paper & Pulp
• Others
By Technology
• Gas Capture/Binding Pumps
i. Gas Displacement Pumps
ii. Kinetic Pumps
• Gas Transfer Pumps
By Lubrication
• Dry Vacuum Pumps
• Wet Vacuum Pumps
Geographical Coverage
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Application in the Oil and Gas Industry to Fuel Expansion of Vacuum Pumps Market
The oil and gas industries are some of the biggest sectors in the global business environment. Technological innovations in this sector have led to higher adoption of vacuum pumps for the process of oil recovery. Vacuum pumps are considered to be more efficient, cost-effective, and easier to use than traditional solutions such as steam ejectors. Various types of vacuum pumps including jet and liquid ring variants are effective in developing vacuum during crude oil distillation. These varied applications of vacuum pumps and their positive impact on boosting efficiency levels are anticipated to increase their adoption the oil and gas industry, resulting in sound growth in the vacuum pumps market.
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North America to Exhibit Highest Growth Potential
Rising investment in oil, chemicals, pharmaceuticals, power generation, and consumer electronics industries are expected to remain high in developed economies of North America. This is expected to create high-value business opportunities in the vacuum pumps market of North America. In this region, coal production per hour per employee is also expected to positively influence the demand for vacuum pumps. The cumulative force of these factors, coupled with the presence of key market players, is forecast to launch rewarding business opportunities in vacuum pumps market of North America.
Major Market Players
Some of the major market players in the global vacuum pumps market include Ingersoll Rand, Atlas Copco, Pfeiffer Vacuum GmbH, Flowserve Corporation, and Busch Vacuum Solutions.
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