Press release
Vacuum Pumps Market: Meticulous Research® Reveals Why This Market is Expected to Reach $ 7.57 Billion by 2030
Vacuum pumps remove gas molecules from a sealed volume to create a partial vacuum. These pumps are designed with various technologies based on their pressure requirements and application. Vacuum pumps can also be categorized according to the type of lubrication and sealing system. Vacuum pumps can be wet or dry lubricated.Meticulous Research®, in its latest publication on the global vacuum market, states that the global market is expected to reach $ 7.57 billion by 2030, at a CAGR of 4.6% from 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.
The global vacuum pumps market is segmented by type, lubrication, pressure, end-use industry and geography. The report has considered five major geographies: North America, Asia-Pacific, Europe, Latin America and Middle East & Africa.
Download Free PDF Sample Copy of the Report: https://www.meticulousresearch.com/download-sample-report/cp_id=5500
Based on geography, 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.
Based on type, 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, 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.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/vacuum-pumps-market-5500
Based on pressure, 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.
Based on end-use industry, 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.
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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