The trend of adoption of a Smart vacuum Pump is increasing along with high-speed evacuation enabled with a high ultimate vacuum. The fuelled-up demand is driving the market for the Vacuum Pump Market.
Jersey City, New Jersey, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Vacuum Pump Market” By Technology (Gas Capture/Binding Pumps and Gas Transfer Pumps), By Lubrication (Dry Vacuum Pumps and Wet Vacuum Pumps), By Product Type (High Vacuum Pumps, Medium Vacuum Pumps, and Low Vacuum Pumps), By End-Use Industry (Chemical & pharmaceutical, Wood, Paper & Pulp, Oil & Gas, Food & beverages, Semiconductor & Electronics, and Others), and By Geography. According to Verified Market Research, the Global Vacuum Pump Market size was valued at USD 4,793.47 Million in 2019 and is projected to reach USD 6,626.91 Million by 2027, at a long-term CAGR of 6.21% from 2020 to 2027.
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Browse in-depth TOC on “Vacuum Pump Market”
202 - Pages
126 – Tables
37 – Figures
Global Vacuum Pump Market Overview
Vacuum pump technologies are considered either wet (lubricated) or dry (oil-free or dry running), which is depending on whether or not the gas is exposed to oil or water during the compression process. Vacuum pumps are categorized mainly into three types including positive displacement pumps, momentum transfer pumps, and entrapment pumps. The positive displacement vacuum pumps are the most popular pump and are used to create low vacuums. Momentum transfer vacuum pumps or kinetic pumps are the pumps where gas molecules are accelerated from the vacuum side to the exhaust side is known as a momentum transfer pump. And gas binding or entrapment pumps work using chemical reactions, are known to perform more effectively because they are usually placed inside the space or container to be vacuumed.
The versatility of vacuum pumps in numerous applications is a leading growth driver for the global vacuum pump market. The vacuum pumps can be used for pumping air and gases from a sealed or confined space. They are used in many different sectors such as food and beverage, processing, chemical & pharmaceutical, automobile, oil & gas, and a host of others. The rising purchase power of the middle-class population around the world, in addition to rapid technological developments in the electronics products such as computers, mobile phones, and tablets is another factor that is anticipated to boost semiconductor & electronics sales. This in turn expected to prove beneficial to the global vacuum pump market over the forecast period.
Furthermore, increasing the use of cryogenics in the beverages and microelectronics industries, along with rapid technology development in industries, including in aviation and astrophysics will further increase the demand for the Vacuum Pump Market. Moreover, increasing research and developments in incorporating vacuum pumps into the medical sector can offer a lucrative growth opportunity to the market. However, the high costs involved in product operation and maintenance might hinder the market growth.
The major players in the market are Gardner Denver Inc., Atlas Copco Group, Pfeiffer Vacuum GmbH, Ulvac Technologies, Graham Corporation, Ebara Corporation, Tsurumi Manufacturing Co Ltd, Dekker Vacuum Technologies Inc., Becker Pumps Corporation, Gast Manufacturing, Inc. (Idex Corporation).
Verified Market Research has segmented the Global Vacuum Pump Market On the basis of Technology, Lubrication, Product Type, End-Use Industry, and Geography.
Vacuum Pump Market, By Technology
Gas Capture/Binding Pumps
Gas Transfer Pumps
Vacuum Pump Market, By Lubrication
Dry Vacuum Pumps
Wet Vacuum Pumps
Vacuum Pump Market, By Product Type
High Vacuum Pumps
Medium Vacuum Pumps
Low Vacuum Pumps
Vacuum Pump Market, By End-Use Industry
Chemical & pharmaceutical
Paper & Pulp
Oil & Gas
Food & beverages
Semiconductor & Electronics
Vacuum Pump Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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