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Vacuum Valve Market Global Overview 2024: Technological Advances and Growth Opportunities
Vacuum Valve Market Trends
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According to The Business Research Company's, The vacuum valve market size has grown rapidly in recent years. It will grow from $1.4 billion in 2023 to $1.57 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to industrial manufacturing demand, semiconductor and electronics industry, healthcare and analytical instruments, research and development activities, energy and power generation.
The vacuum valve market size is expected to see rapid growth in the next few years. It will grow to $2.46 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to continued industrial applications, advancements in semiconductor technology, biomedical instrumentation, expansion in analytical instrumentation, renewable energy projects. Major trends in the forecast period include focus on energy efficiency, growing applications in thin-film deposition, environmental and regulatory compliance, R&D investments for enhanced performance, globalization of manufacturing.
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Market Drivers and Trends:
The increase in production of flat-panel displays for consumer electronics is expected to propel the growth of the vacuum valve market going forward. A flat-panel display is a type of video display that has a smaller size, weight, and power consumption than a cathode-ray tube (CRT). Flat-panel display (FPD) manufacturing necessitates vacuum and emission reduction equipment capable of handling large processing chambers and supplying high gas flow rates with high dependability. Vacuum valves allow a zero-humidity procedure while consuming less energy and weighing less, which is advantageous for flat-panel displays. For instance, according to Hindustan Times, an India-based daily newspaper, the market for flat-panel displays (FPD) was valued at $100 billion in 2020 and is expected to grow to over $125 billion by 2024. Therefore, the increasing production of flat-panel displays for consumer electronics is driving the growth of the vacuum valve market.
Major companies operating in the vacuum valve market are focused on developing new innovations, such as vacuum conveyors, to address material handling challenges. A vacuum conveyor is a type of conveyor system that uses suction to move bulk dry materials, such as powders, from one place to another within a factory or production facility. For instance, in December 2021, Piab, a Sweden-based company specializing in vacuum technology and automation solutions, introduced the piFLOWam vacuum conveyor developed specifically for additive manufacturing. The piFLOWam is made of stainless steel and can withstand material temperatures up to 140°F (60°C). The unit weighs 33 lbs (15 kg) and reaches a maximum feed pressure of 101.5 psi (7 bar). The piFLOWam has a minimal footprint, making it suitable for installation on top of 3D printers, intermediate vessels, or depowdering stations, even in constrained spaces.
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Major Key Players of the Market:
Samsung Electronics Co Ltd., Robert Bosch GmbH, Siemens Aktiengesellschaft, Intel Corporation, Panasonic Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., Parker Hannifin Corporation, ULVAC Inc., Emerson Electric Co, Danfoss Group, CKD Corporation, Agilent Technologies Inc., Cameron a Schlumberger Company, SMC Corporation, Pentair plc, MKS Instruments Inc., nVent Electric plc, VAT Group AG, AVK Group A/S, Pfeiffer Vacuum Technology AG, V-TEX Corporation, Kurt J. Lesker Company, Kitz SCT Corporation, BEL Valves Limited, Fisher Controls International LLC, HVA LLC, Flomatic Corporation, Shanghai Vacuum Valve Manufacturing Co Ltd., Nexans SA, Leybold GmbH, INFICON Holding AG, Brooks Automation Inc., Edwards Vacuum LLC, ANVER Corporation
Vacuum Valve Market 2024 Key Insights:
• The vacuum valve market size is expected to see rapid growth in the next few years. It will grow to $2.46 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%.
• Flat-Panel Display Catalysts For Growth Vacuum Valves Market
• Innovative Solutions In Material Handling With Piflowam Vacuum Conveyor Manufacturing
• Asia-Pacific was the largest region in the vacuum valve market share in 2023
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