Dry Vacuum Pumps Market to Exhibit US$ 3.22 Bn Revenue by 2028 owing to its Growing Popularity | Future Market Insights, Inc.
North America accounts for 23.7% share in the global sales of dry vacuum pumps. Demand for dry scroll vacuum pumps is steadily increasing from the pharmaceutical industry in China.
NEWARK, Del., Oct. 12, 2022 /PRNewswire/ -- The global dry vacuum pumps market is expected to bolster at an opulent CAGR of 6.1% over the projection period from 2022 to 2028. The global market is expected to be valued at US$ 2.25 Bn in 2022 and reach US$ 3.22 Bn by 2028. Growth in the global market accounted for around 3.2% market share of the global industrial pumps market in 2021. Sales of dry screw vacuum pumps are expected to remain high, whereas gains are predicted to remain steady for dry scroll vacuum pumps over the coming years.
According to Future Market Insight's study and comparison of the market dynamics and leading market trends of the dry vacuum pumps, it has been revealed that the market is primarily impacted by electronics and semiconductor supply and demand. Certain macroeconomic factors are responsible for predominantly influencing the dry vacuum pumps market including development in the electronics and semiconductors, and pharmaceutical and chemical industries along with certain innovation factors.
According to the FMI analysis, the change in BPS values noticed in the market for dry vacuum pumps in H1, 2022 - Outlook compared with H1, 2022 projected CAGR, is expected to be at a 42-unit decline. In comparison to H1-2021, the market is anticipated to decline by 30 basis points in H1-2022 as per the current estimation.
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Key Takeaways
- Dry vacuum pumps are majorly utilized for vacuum drying, mixing, de-aeration and filtration. Another vital usage of dry vacuum pumps is in particle conveying and material handling. Dry pumps are also used in scientific instruments, such as laser scanning microscopes. According to historical estimations done by FMI, the global dry vacuum pumps market witnessed a growth rate of 5.8% over the period of 2013 to 2021.
- Electronics and semiconductor products are witnessed as common products due to which the industry is adopting dry vacuum pumps for related applications including coating and drying. The predominant usage of dry vacuum pumps is in end-use industries, such as electronics and semiconductors, and pharmaceutical and chemical industries.
- Traditionally, all industrial operations took place with the help of oil-filled dry vacuum pumps. However, the urgent need for safety and cleanliness is driving the adoption of oil-less dry vacuum pumps for industrial and laboratory applications. Over the assessment period ranging from 2022 to 2028, global dry vacuum pump sales are anticipated to surge at a 6.1% CAGR.
- Since the inception of dry vacuum pumps, it has evolved into a high-value market and has been witnessing a healthy growth rate in the current scenario. It is expected to witness robust growth during the forecast period.
- In order to promote energy saving during operations and to keep the noise levels in check, dry running and contact-free dry pumps are anticipated to emerge as a lucrative solution over the last more than two decades all over the world.
- Some of the primary benefits associated with dry vacuum pumps incorporate steady performance, clean quality vacuum, easy integration and installation, sound shelf life, wide-opening doors, and a removable rear panel, which facilitates maintenance, and access to real-time data with no time gap. Owing to these aforementioned factors, the global dry vacuum pumps market is anticipated to have opulent growth in the near future.
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Competitive Landscape
Over recent times, key market players are focusing on collaborating with several sales and service companies in order to enhance market presence. This is emerging as one of the key strategies of prominent market players over the years. Besides this, mergers, acquisitions, and collaborations by large players will also drive sales of modern dry vacuum pumps substantially.
More Insights into the Dry Vacuum Pumps Market
The U.S. is expected to dominate the global dry vacuum pumps market owing to the rapid developments in industrial manufacturing, electronics and semiconductors, oil and gas, chemical and petrochemical industries, and other industries combined with an increase in business investments in oil-less vacuum pumps are expected to bolster growth in the market.
Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definitions
3. Market Viewpoint
3.1. Porter's five force analysis
3.2. Macro factors
3.3. Forecast Factors
3.4. Global Dry Vacuum Pumps Market: Value Chain
3.5. Opportunity Analysis
3.6. Market Dynamics
3.6.1. Drivers
3.6.2. Restraints
3.6.3. Opportunities
3.6.4. Trends
4. Market Forecast
4.1. Global Dry Vacuums Pumps Market Size and Forecast
4.2. Market Size Projections
4.2.1. Y-o-Y Projections
4.2.2. Absolute $ Opportunity Analysis
5. Global Dry Vacuum Pumps Market Analysis 2013–2021 and Opportunity Assessment 2022–2028, By Product Type
5.1. Introduction
5.1.1. Market Value Share Analysis By Product type
5.1.2. Y-o-Y Growth Analysis By Product type
5.2. Historical Market Size (US$ Mn) and Volume (Units) By Product type, 2013–2021
5.3. Market Size (US$ Mn) and Volume (Units) Opportunity Assessment By Product type, 2022-2028
5.3.1. Dry Screw Vacuum Pump
5.3.2. Dry Scroll Vacuum Pump
5.3.3. Dry Diaphragm Vacuum Pump
5.3.4. Dry Claw and Hook Pumps
5.3.5. Others
5.4. Market Attractiveness Analysis By Product Type
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