Press release
Vacuum Pumps Market to Witness Significant Growth Owing to Expansion of the Automotive, Healthcare, and Oil & Gas Industries
Vacuum Pumps Market
As per a report published by Research Dive, the global vacuum pumps market is expected to register a revenue of $9,401.4 million by 2031, growing from $5,353.5 million in 2021, at a healthy CAGR of 5.8%.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐ง๐จ๐ฐ @ https://www.researchdive.com/download-sample/3478
๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
Drivers: The increase in demand for semiconductor chips is one of the key drivers of the vacuum pumps market growth. The rise in adoption of numerous technologies such as artificial intelligence, 5G, and the Internet of Things (IoT) is driving demand for these chips. These technologies are becoming increasingly widespread in daily lives and their further expansion is expected to create an even larger demand for semiconductor chips in the upcoming years.
Opportunities: Increased usage of cryogenics in the beverage and microelectronics sectors, as well as fast technological progress in sectors such as aviation and astronomy, is predicted to drive demand for the vacuum pump market. In addition, increased R&D in introducing vacuum pumps into the medical sector is also anticipated to provide growth opportunities for the market. Moreover, the rising trend toward Industry 4.0 and the Internet of Things (IoT) is having an impact on the vacuum pump industry.
Restraints: The high installation prices of vacuum pumps are considered the major factor expected to hamper market growth.
๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐จ๐ง ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐๐ฎ๐ฎ๐ฆ ๐๐ฎ๐ฆ๐ฉ๐ฌ ๐๐๐ซ๐ค๐๐ญ
The COVID-19 pandemic had a significantโฏimpact on the worldwide vacuum pumps industry. The pandemic resulted in reduced production and demand for vacuum pumps by disrupting the worldwide supply chain and manufacturing processes. The pandemic also had an impact on the semiconductor and electronics industries. Demand for vacuum pumps decreased owing to the supply chain interruptions and a drop in consumer expenditure. Similarly, the chemical processing and pharmaceutical sectors witnessed a slowdown in demand due to the pandemic. The impact of the pandemic on the demand for electronic equipment has a substantial influence on one of the primary end-use sectors for vacuum pumps, the semiconductor and electronics sector. The pandemic resulted in reduced demand for vacuum pumps, forcing several manufacturing facilities to close or operate at reduced capacity.
๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
The report has fragmented the vacuum pumps market into multiple segments based on lubrication, pressure, end-user, and region.
Based on lubrication, the wet sub-segment of the vacuum pumps market is predicted to be the fastest growth in the forecast period. Wet vacuum pumps are water-based or oil-lubricated pumps that use water or oil for lubrication or sealing. Strategic investments in end-user sectors such as oil & gas and power generation are favorably benefiting the vacuum pump market because of increasing natural gas production.
Based on pressure, the medium vacuum pumps sub-segment is projected to have a dominant market share during the forecast period. Medium vacuum pumps are ideal for applications requiring faster pumping rates than a basic vacuum pump as they can attain pumping speeds of up to 1000 liters per second.
Based on end user, the automotive sub-segment is anticipated to show the fastest growth during the forecast period. The use of vacuum pumps in the automotive industry can help improve performance, efficiency, emissions control, and reliability, making them a key component in many automotive systems.
Based on region, the vacuum pumps market in Asia-Pacific is projected to have a dominant market share during the forecast period, attributable to the rise of the automobile, healthcare, oil & gas,โฏand aerospace sectors. Furthermore, presence of several electronic and semiconductor manufacturers in Asia-Pacific countries, such as Japan,โฏChina,โฏand India is driving the market expansion.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง @ https://www.researchdive.com/request-for-customization/3478
๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
Some of the leading vacuum pumps market players are Atlas Copco, Busch Vacuum Solutions (Busch Group), Becker Pumps Corporation, Ebara Corporation, GlobalVac & Air, Flowserve Corporation, Graham Corporation, Pfeiffer Vacuum GmbH, Ingersoll Rand, and ULVAC Inc.
These companies are implementing various strategies like introducing new products, forming collaborations, expanding their operations, entering joint ventures, and making agreements to bolster their market share and uphold their leadership across diverse regions. The report also summarizes several crucial aspects, such as the financial performance of key market players, SWOT analysis, product portfolio, and the latest strategic advancements.
๐๐จ๐ง๐ญ๐๐๐ญ:
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๐๐๐จ๐ฎ๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ข๐ฏ๐:
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable.
Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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