Vacuum Pump Market valued at US$5.25 billion in 2021, to witness significant growth

The vacuum pump market was valued at US$5.25 billion in 2021.

NOIDA, UTTAR PARDESH, INDIA, December 8, 2023 /EINPresswire.com/ -- According to a new report published by Knowledge Sourcing Intelligence, forecasted between 2021 and 2028, the vacuum pump market was valued at US$5.25 billion in 2021 and is anticipated to propel significantly over the coming years.

The vacuum pump market is expanding rapidly as a consequence of increased automotive, healthcare, and oil and gas activity. Furthermore, the market is growing due to the increased use of vacuum pumps in automobiles for safety considerations, since they keep the engine running for a longer period, thereby prolonging the engine's service life. Furthermore, the implementation of regulatory standards to maintain clean rooms and surgical protocols, quick technical improvements, and a growth in the number of surgical procedures all contribute to an increase in the need for vacuum pumps in the healthcare industry.

A vacuum pump is a mechanical device that extracts gas from a chamber or sealed container to generate a vacuum or low-pressure condition. Because of the partial vacuum formed inside the chamber, gas molecules move from a higher-pressure area to a lower-pressure area. Using this process, the pump may empty the chamber, lowering the pressure to the appropriate level. Vacuum pumps are used in the production of chemicals, semiconductors, food packaging, and medicines. Vacuum pumps help in the removal of unwanted gases, moisture, and contaminants from process chambers to maintain efficient and sanitary operations. The expanding importance of nanotechnology in tandem with the increasing use of electronic devices has resulted in a greater demand for regulated vacuum conditions in material characterization, surface analysis, and nanofabrication processes. The increasing use of vacuum pumps to aid in testing and packaging operations in the electronics sector will contribute to market expansion. The increasing usage of electronic gadgets, driven by the increasing usage of consumer electronics such as smartphones, tablets, and video gaming systems, will drive industry growth.

The market is witnessing multiple collaborations and technological advancements, for instance, Atlas Copco confirmed the acquisition of the assets of Shandong Jinggong Pump Co., Ltd, a Chinese manufacturer that designs and manufactures liquid ring vacuum pumps and systems for the chemical and other industrial sectors, in November 2022.

Access sample report or view details: https://www.knowledge-sourcing.com/report/vacuum-pump-market

Based on type the global vacuum pump market is divided into rotary vane vacuum pumps, liquid ring vacuum pumps, diaphragm vacuum pumps, and others. Among these, the rotary vane pump is expected to capture a sizeable portion of the market over the forecast period. This market growth is ascribed to the versatility, efficiency, and reliability these pumps offer in handling various chemical processes. These pumps operate by creating a vacuum in a cylindrical vacuum chamber by using rotatory vane assembly therefore making them appropriate for applications that require a continuous and strong vacuum source. Furthermore, these pumps are capable of handling corrosive gases and vapours often found in chemical applications. Rotary vane vacuum pumps are a popular choice for guaranteeing the efficiency and safety of many chemical industrial processes due to their rugged design and ability to sustain vacuum levels.

Based on the method the global vacuum pump market is divided into gas transferring and gas capturing. Among these, the gas transferring pump is anticipated to grow significantly over the forecast period. Gas transfer pumps are vacuum pumps that work on the gas-transfer principle to produce vacuums by transferring gases through the pump. Rising industrialization, technical advancements, fast urbanization, and infrastructural expansion are driving the proliferation of gas transfer pumps.

Based on application the global vacuum pump market is divided into chemical, oil & gas, mining, food and beverage, and others. Among these, the chemical sector is poised to hold the major market share and is expected to grow with a healthy CAGR over the forecast period. The growing product demand in the chemical industry reflects the sector's continued need for efficient and dependable solutions to improve process control, productivity, and safety while addressing environmental concerns. Vacuum pumps help to safe working conditions by guaranteeing correct pressure management, which is critical in chemical production operations. Additionally, vacuum pumps are critical in a variety of chemical processes such as distillation, drying, and crystallization, where the removal of gases or vapours is required to maintain specified conditions.

Based on Geography the North American market is anticipated to expand significantly and register a healthy CAGR over the forecast period. North America is expected to dominate the vacuum pump market due to increased investments in end-user industries such as oil and gas, chemical, and power generation, where vacuum pumps are widely used to remove surface pollutants. The market growth is further attributed to the surge in shale gas production in the United States and the stabilization of oil prices, vacuum pumps are increasingly being employed in the chemical and oil and gas sectors. Furthermore, these applications usually work in harsher settings, which affects productivity and requires the oil and gas sector to replace obsolete equipment with cutting-edge technology.

As a part of the report, the major players operating in the global vacuum pump market, that have been covered are Ingersoll Rand, Atlas Copco AB, Flowserve Corporation, Busch Group, Pfeiffer Vacuum GmbH, Gardner Denver, Kakati Karshak Pvt ltd, VACUUBRAND GMBH + CO KG, VAKUO GmbH, Osaka Vacuum, Ltd.

The market analytics report segments the vacuum pump market using the following criteria:

• BY TYPE

o Rotary Vance Vacuum Pump
o Liquid Ring Vacuum Pump
o Diaphragm Vacuum Pump
o Others

• BY METHOD

o Gas Transfering
o Gas Capturing

• BY APPLICATION

o Chemical
o Oil & Gas
o Mining
o Food & Beverage
o Others

• BY GEOGRAPHY

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• United Kingdom
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• Israel
• Others

o Asia Pacific

• China
• Japan
• South Korea
• India
• Australia
• Others

Companies Profiled:

• Ingersoll Rand
• Atlas Copco AB
• Flowserve Corporation
• Busch Group
• Pfeiffer Vacuum GmbH
• Gardner Denver
• Kakati karshak Pvt ltd
• VACUUBRAND GMBH + CO KG
• VAKUO GmbH
• Osaka Vacuum, Ltd

Explore More Reports:

• Global Heat Pumps Market: https://www.knowledge-sourcing.com/report/global-heat-pumps-market
• Piston Pump Market: https://www.knowledge-sourcing.com/report/piston-pump-market
• Global Subsea Pump Market: https://www.knowledge-sourcing.com/report/global-subsea-pump-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn