New Vacuum Pump Installation to Increase by 1.7X between 2021 and 2031

NEW YORK, Aug. 10, 2021 /PRNewswire/ -- Fact.MR projects the demand for vacuum pumps to grow at an impressive pace over the forecast period between 2021 and 2031. Sales of vacuum pumps are expected to rise at 1.7x spurred by increasing production of suction pumps for mechanical ventilators, especially amidst COVID-19.

Increasing application of vacuum pumps in diverse industries including, electronics & semiconductors, packaging, oil and gas will continue driving growth. Due to their wide array of benefits such as filling, conveying, evaporation, and material handling, vacuum pumps are gaining traction in aforementioned industries.

As per Fact.MR, electronics and semiconductor industry is the most lucrative segment, expanding at healthy rate of 7% CAGR during the assessment period. However, rising application of vacuum pumps in industrial manufacturing will account for the largest revenue share.

In addition to this, application of vacuum pumps in food processing and packaging sector is expected to gain momentum over the coming years. Rising application of vacuum pumps in these diverse end-use applications will continue fuelling their demand through the course of the assessment period.

Driven by these factors, the global vacuum pumps market is poised to expand at a steady pace of 6% CAGR during the forecast period.

"Integration of novel technologies such as artificial intelligence and machine learning has created scope for vacuum pumps application in electronics & semiconductor, packaging, and food-processing industries. This will in turn drive the market in the coming years," says a Fact.MR analyst.

Request Sample Here For More Information on How to Improve Your Vacuum Pump Market Footprint

https://www.factmr.com/connectus/sample?flag=S&rep_id=4889

Key Takeaways from Vacuum Pump Market Survey

• While dry pumps will hold the largest market share, regenerative vacuum pumps will exhibit faster growth over the forecast period
• Electronics and semiconductors, collectively, will exhibit high growth owing to the increasing adoption of renewable technology across East Asia
• Gas transfer vacuum pumps will account for over 58% of global market share
• Vacuum pump market across Germany expanded at around 4.5% CAGR during 2016 and 2020
• The U.S. is leading the vacuum pump market at the forefront, accounting for over 86% of market share in terms of value
• The U.K. is anticipated to be highly lucrative market for vacuum pumps during the forecast period

Key Drivers

• Increasing demand for vacuum pumps integrated with micro-electro-mechanical systems (MEMS) technology will fuel the growth
• Burgeoning demand for dry vacuum pumps for material handling and engine testing will bolster the market growth

Key Restraints

• High cost combined with compatibility issues in dry vacuum pumps is likely to create a challenge for the growth

Ask an Analyst Here If You Want To Learn More about the Regional Landscape of the Nano Crystalline Soft Magnetic Materials Market

https://www.factmr.com/connectus/sample?flag=AE&rep_id=4889

Competitive Landscape

As per Fact.MR, due to the presence of numerous companies in the vacuum pump market, the competition is severe. Some of the key players are therefore offering products at lower prices to gain competitive edge.

Integration of novel technologies such as artificial intelligence in vacuum pumps and compact solution for heavy-duty projects are the key strategies adopted by leading players.

In May 2021, Fieldpiece Instruments, the global industry leader in tools and test instruments for HVACR professionals, announced the launch of new-generation vacuum pumps that are small, lightweight, and portable that allows fast-timesaving vacuum evacuation to make the job easier and efficient.

In February 2020, Edwards launched the new nXRi high performance compact dry pump that has lower input power and zero maintenance, with real performance improvements and cost effective for a range of applications.

COVAL, a leading player, in 2019, offered a new Wash Down range of vacuum pumps that can be exposed to water and humidity and quickly dismounted, while still maintaining a high performance level.

Some of the leading players operating in the vacuum pump market profiled by Fact.MR are:

• Atlas Copco
• Ebara Corporation
• Busch Vacuum Solution
• Edward (Atlas Copco)
• Becker pumps Corporations
• Others

More Valuable Insights on Vacuum Pump Market

In its latest report, Fact.MR report on global vacuum pump market offers unbiased analysis, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021 and 2031. The study also provides detailed analysis on the market which is segmented on the basis of:

Pump Type:

• Positive Displacement
• Liquid Ring Vacuum Pumps
• Rotary Screw Pumps
• Rotary Root Pumps
• Dry Vacuum Pumps
• Dry Screw Vacuum Pumps
• Dry Scroll Vacuum Pumps
• Dry Diaphragm Vacuum Pumps
• Dry Clan & Hook Pumps
• Others
• Centrifugal Pumps
• Momentum Transfer
• Rotary Vane Vacuum Pumps
• Turbo Molecular Vacuum Pumps
• Regenerative Application

Lubrication:

• Dry
• Wet

Application:

• Assembly
• Conveying
• Dehydration/Drying
• Engine Testing
• Evaporation & Distillation
• Filling
• Holding/Chucking
• Manufacturing
• Material Handling
• Thermoforming
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa

Key Questions Covered in the Vacuum Pump Market Report 

• The report offers detailed insights into vacuum pump demand outlook for 2021-2031
• The market study also highlights projected sales growth for vacuum pump market between 2021 and 2031
• Vacuum pump market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
• Vacuum pump market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Explore Fact.MR's Coverage on the Industrial Goods Domain

Vacuum Loaders Market - Increasing customized vacuum loaders, leasing and innovation are some of the driving elements in this area. Furthermore, while the level of life of the people in developed economies such as South Korea and many countries in Europe has changed significantly, in the coming years, the adoption of vacuum loaders in low income countries is likely to rise at a faster rate. The food sector of the United States is the world's largest and offers vacuum loader companies the possibility to grow in this end use market.

Submersible Pump Market - Increased government wastewater expenditure and flourishing mechanisation of farming in developmental countries are in the foreseeable future major growth motors for submersible pumps. The pandemic COVID-19 has changed the market environment for pumps and has caused a deep impact on supply chains and manufacturing cycles due to domestic locks. In water applications, submersible pumps have played an important role over the years in the global market for submersible pumps.

Heat Pump Market - East Asia will continue to be one-third of the market leader in heat pumps, based on renewed construction and infrastructural development in the region. Increasing implementation of strong rules to reduce greenhouse gas emissions in the environment worldwide is expected to present heat pump manufacturers with new growth prospects. Premium or sophisticated heat pump output is usually limited but is a high market value. As a result, a significant level of consolidation is demonstrated for high-end goods in the heat pump sector.

About Fact.MR

Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to industrial goods & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we'll be an able research partner.

Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: [email protected]

SOURCE Fact.MR