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Vacuum Pumps Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033
Vacuum Pumps Market Size
As per the report, the vacuum pumps market size has grown strongly in recent years. It will grow from $5.20 billion in 2023 to $5.50 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The vacuum pumps market size is expected to see strong growth in the next few years. It will grow to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
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The Rising Tide of the Food and Beverage Industry and Its Impact on Vacuum Pump Market Growth
The rising food and beverage industry is expected to propel the growth of the vacuum pumps market going forward. The food and beverage industry encompasses the production, processing, packaging, and distribution of food and drink products for consumption. The food and beverage industry is increasing due to shifting consumer preferences towards convenience foods, growing demand for healthy and organic options, and an expanding global population driving consumption. Vacuum pumps are utilized in the food and beverage industry to extend shelf life and maintain product quality by removing air and preventing oxidation during packaging and processing. For instance, in May 2021, according to the Australian Bureau of Statistics, an Australian government statistical agency, sales of food and non-alcoholic beverages in Australia's supermarkets, grocery stores, convenience stores, and specialty food stores amounted to 15.1 million metric tons in the fiscal year 2021-22, showing a surge compared to the 14.8 million metric tons sold in the preceding fiscal year of 2020-21. Therefore, the rising food and beverage industry is driving the growth of the vacuum pumps market.
Innovative Solutions Revolutionize Batch Processing Efficiency In Vacuum Pumps Market
Major companies operating in the vacuum pumps market are developing new products, such as dry-running vacuum pumps, to gain a competitive edge in the market. Dry-running vacuum pumps refer to devices that remove gas molecules from a sealed volume to create a partial vacuum or low-pressure environment. For instance, in March 2023, Flowserve Corporation, a US-based provider of flow control products and services, launched the SIHI Boost UltraPLUS dry-running vacuum pump. It is designed to significantly reduce cycle times for batch processes by up to 50% or more, making it an effective solution for load lock applications. This improved pump design retains the benefits of the original SIHI Boost pumps, including oil-free operation and full electronic synchronization, and further enhances performance by cutting re-acceleration time by up to 50%.
The vacuum pumps market covered in this report is segmented -
1) By Pump Type: Positive Displacement, Dry Vacuum, Centrifugal, Momentum Transfer
2) By Mechanism: Gas Transfer, Gas Binding
3) By Pressure: Low Vacuum Pumps, Medium Vacuum Pumps, High Vacuum Pumps, Ultra-High Vacuum Pumps, Extreme High Vacuum Pumps
4) By End-User: Automotive, Chemical And Petrochemical, Aerospace And Defense, Oil And Gas, Healthcare And Pharmaceuticals, Other End-Users
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Major companies operating in the vacuum pumps market are Atlas Copco AB, Agilent Technologies Inc., Ebara Corporation, Gardner Denver Holdings Inc., ULVAC Technologies Inc., Busch Vacuum Solutions, Pfeiffer Vacuum GmbH, Leybold GmbH, Anest Iwata Corporation, KNF Neuberger GmbH, Graham Corporation, Tuthill Corporation, Becker Pumps Corporation, VACUUBRAND GMBH + CO KG, Dekker Vacuum Technologies Inc., Gast Manufacturing Inc., Osaka Vacuum Ltd., Welch Vacuum Technology Inc., Wenling Tingwei Vacuum Equipment Co. Ltd, Kashiyama Industries Ltd.
Contents of the report:
1. Executive Summary
2. Vacuum Pumps Market Report Structure
3. Vacuum Pumps Market Trends And Strategies
4. Vacuum Pumps Market - Macro Economic Scenario
5. Vacuum Pumps Market Size And Growth
…..
27. Vacuum Pumps Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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