Market Size of Vacuum Pump Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vacuum Pump Market Analysis
The European Vacuum Pump Market is expected to register a CAGR of around 6.4% during the forecast period. The overall growth of the vacuum pump market is primarily driven by customers' investments in new production technology and, to a certain extent, by investments in production capacity. The growing adoption of vacuum pumps in oil and gas, electronics, medicine, chemical processing, and food and beverage is further driving the demand for vacuum pumps.
- Vacuum pumps are in high demand for business and commercial production, automotive, and other mechanically driven activities. As the technology grows, so does the function of vacuum pumps in the market, shaped by different innovations from various fields, even outside of mechanical and industrial works.
- According to the United Nations COMTRADE database on international trade, the EU imports of air or vacuum pumps, air or other gas compressors from Sri Lanka amounted to USD 38.57 thousand last year.
- One of the most common uses of vacuum pumps in the industry, or even in households, would be the significant contribution to fluid systems and waterworks. Vacuum pumps efficiently transport different fluids, such as fuel, water waste, and chemicals, from one place to another.
- The food and beverage sector is also utilizing these devices for dairy processing, sterilizing tea and spices, chocolate production, coffee roasting, deaeration of mineral water, etc., positively influencing the demand for vacuum pumps. In the process of food packaging, vacuum pumps can be used to exhaust air, which can extend food storage time and remove odors.
- According to the European Institute of Innovation & Technology (EIT) food in January 2022, to identify and assess new alternative protein ingredients from underutilized plant sources, such as legumes and oil seed press-cakes, the TASTE2MEAT project is developing knowledge-based strategies for high sensory quality meat alternatives by explicitly focusing on flavor and structure, thus driving the demand for vacuum pumps in the food and beverage industry.
- Due to the COVID-19 pandemic, the global supply chain and demand for vacuum pumps were disrupted, owing to which market adoption was severely impacted. Due to the production shutdown, countries such as the United Kingdom, Germany, and France observed a shortage of vacuum pumps during the pandemic.
