|Study Period:||2019- 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The global vacuum pump market was valued at USD 5.14 billion in 2020. It is expected to reach a value of USD 8.01 billion by 2026, registering a CAGR of 7.41% over the forecast period (2021-2026). The outbreak of the COVID-19 pandemic has affected the market for vacuum technologies in the initial months due to disruption of the supply chain and logistics. Still, later, it witnessed increased adoption of various other solutions. According to Altas Copco, order volumes for equipment also increased, mainly due to increased demand for vacuum equipment in the semiconductor industry. The order intake increased in Asia and Europe but decreased in North America. The overall growth was primarily driven by customers' investments in new production technology and, to a certain extent, by investments in production capacity. With such a change in the vacuum equipment market, the vacuum pumps demand witnessed heightened demand.
- Vacuum pumps play a significant role in the production process of semiconductor devices. The overall demand for the semiconductor IC market is driven by smartphones and other applications across consumer electronics, automotive, etc. These are caused by technology transitions, such as wireless technologies (5G) and artificial intelligence. Also, the trending usage of Internet of Things-based devices is expected to encourage the semiconductor industry to invest in this equipment.
- According to World Semiconductor Trade Statistics (WSTS), the global sales of semiconductors witnessed a year-on-year growth of 6.8% in 2020. Further, the global semiconductor market is expected to grow to USD 551 billion in 2021, representing a 25.1% growth rate. A confluence of factors, including the double-digit growth in the memory chips market (37.1% growth rate), has increased the sales of semiconductors in 2021 worldwide.
- The increasing application of MEMS technology in the vacuum pumps industry is expected to drive the market further. MEMS technology has many applications across numerous market verticals, specifically consumer electronics, such as tablets, smartphones, and video game systems.
- For instance, MEMS-based environmental hubs and gas sensor vacuum pumps are becoming more prevalent since people's perception of their immediate environment has changed. Due to pollution, the population cares more about the air they breathe, both within their houses and outside.
- Moreover, vacuum pumps also play a vital role in the pharmaceutical industry. These pumps are used in all manufacturing stages, including drying, distillation, degassing, crystallization, sublimation, and filling. Each vacuum pump is used as a part of a vacuum prime system design used to make intermediate products, active pharmaceutical ingredients, and bulk drugs. Such applications in various end-user industries make vacuum pumps vital elements that carry out critical tasks in the value chain.
- Further, the market has been witnessing activities to boost production capacities, driven by a high focus to capture the demand from the semiconductor industry. In October 2020, EBARA Precision Machinery Europe (EPME), an overseas group company of EBARA Corporation (EBARA) in Germany, announced a new center to overhaul dry vacuum pumps. This is expected to be the second overhaul center for EPME. Through this expansion, the company aims to manifest its long-term vision, E-Vision 2030. It mentioned that the EBARA Group would contribute to developing high-spec semiconductors necessary to address the increasing demand for Cloud, AI, IoT, automated driving (self-driving cars), and 5G through the provision of cutting-edge semiconductor manufacturing equipment.
Scope of the Report
The vacuum pump market study analyses the market trends and opportunities for different types of vacuum pumps, such as rotary vacuum pumps and reciprocating vacuum pumps, among others used in the various end-user industry applications. These pumps find application in the process, manufacturing industry, among others. The study scope is limited to revenues generated from the vacuum hardware. Components, maintenance, and other services offered separately are excluded from the scope of the study. The study captures qualitative and quantitative trends for the market segmentation by type, end-user application, and geography.
Further, only qualitative trend analysis is provided for the drill-down segmentation by type due to the feasibility and limitation of data validation for the sub-segment. Further, the report provides a study for the impact of COVID-19 on the market players and its stakeholders across the supply chain. The same has been considered for arriving at the current market estimation and for future projections.
|By End-user Application|
|Oil and Gas|
|Food and Beverages|
|Other End-user Applications (Wood, Paper and Pulp, etc.)|
|Middle East and Africa|
Key Market Trends
Oil & Gas Sector is Expected to Hold Significant Market Share
- Oil is a vital and versatile substance, used in different ways and in different forms for various applications. The Organization of the Petroleum Exporting Countries (OPEC) projects that the global oil product demand will reach around 109 million barrels per day by 2045, with transportation fuels such as gasoline and diesel anticipated to remain the most consumed products.
- Currently, most pumps and other installations in oil and gas have large operational expenditures compared to capital costs. This pushes their B/C ratio and increases their payback period. To avoid this problem, large vacuum apparatus such as vacuum pumps must be very efficient, reducing additional equipment running these pumps and having adequate control systems.
- Steam ejectors use a lot of energy in this industry and require huge capital and maintenance costs associated with the steam generation and pumping. To reduce this problem, a vacuum pump can effectively replace most of these steam injectors. This effectively reduces the high costs of generating steam and increases the benefits. The efficiency of this equipment is also very high as compared to steam processes. Therefore, more substantial savings and increased benefits are obtained when using these machines.
- Distillation is one of the standard processes in most refineries. This process requires the condensation of natural products such as naphtha. To effectively complete this process, the pump must perform as a condenser and distiller. After atmospheric distillation, a more significant fraction of crude oil is driven into the vacuum distillation unit, one of the most productive and critical equipment in the refinery. The vacuum in a distillation column is kept by a multistage steam ejector unit, including liquid ring vacuum pumps.
- Jet vacuum pumps are often combined with the liquid ring pumps to create a vacuum in crude oil distillation columns. Combining two pump types with a simple but appropriate control system facilitates low cooling water consumption, power, and motive medium. A player such as the GEA group offers jet vacuum pumps that are suited for this application. They convey large quantities of gas, which operate smoothly and need very little maintenance. A wide choice of materials means that corrosion can be reduced or eliminated.
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North America Accounts For Largest Market Share
- The increasing investments in the end-user industries, such as oil and gas, chemical, and power generation, significantly impact the vacuum pump market in the North American region due to the increasing natural gas production. Countries in the area, such as the United States and Canada, have abundant oil reserves, and they try to utilize their oil sands resources.
- The boom of shale gas in the United States and the stabilizing oil prices are driving the usage of vacuum pumps in the chemical and oil and gas industries. Additionally, these applications are often exposed to harsher conditions, resulting in low productivity, driving the oil and gas companies to replace existing equipment with advanced technologies.
- Energy production in the United States continues to expand rapidly. For instance, ExxonMobil, one of the major oil producers in the country, announced its plans to increase the production activity in the Permian Basin of West Texas by producing around 1 million BPD oil equivalent as early as 2024.
- The United States also pioneered various solar energy projects and remained a powerhouse in new renewable energy technologies. The US Department of Energy’s Energy Information Administration (EIA) estimated that the net capacity of the electric power sector in the country was estimated to be around 1.07 terawatts in 2020 and was expected to increase significantly in the future to reach approximately 1.7 terawatts by 2050.
- Furthermore, higher production of coal per employee hour could lead to higher usage of vacuum pumps to compensate for the increase in the production hours. Moreover, increased sales could lead to higher investments by the mining companies in vacuum pumps, as they are extensively used in mining plants. This could lead to coal plants installing many conventional and advanced vacuum pumps, thus, driving the demand for vacuum pumps in this region.
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The vacuum pumps market is highly fragmented due to the presence of prominent global and local players. Also, global investment in R&D in power generation infrastructure and facility upgrades in the oil and gas are the essential drivers who are giving intense rivalry among competitors. Key players are Gardner Denver Inc., Atlas Copco Group, Flowserve Corporation, etc. Some of the recent developments in the market are -
- August 2021 - Pfeiffer Vacuum announced its new HiPace 80 Neo turbopump, which features a more extended life before service and reduced vibration and noise emissions. These benefits are made possible with the new, advanced Laser Balancing system developed for turbopump rotors.
- February 2020 - Atlas Copco acquired Dekker Vacuum Technologies, Inc., a US supplier of vacuum equipment and service solutions for industrial applications. This acquisition is expected to complement the existing portfolio of the former in the liquid ring pump market and ensures a strong reputation serving diverse industrial needs in North America.
- May 2021 - Pfeiffer Vacuum introduced a new corrosive gas version of the diaphragm pump. This version features a gas ballast valve and excellent chemical and condensate compatibility. The unique choice of materials ensures significantly increased robustness in a wide range of processes.
- April 2020 - Busch Israel provided Vacuum Pumps for a Hospital in Palestine with urgently needed vacuum technology. Due to the corona crisis, hospitals are facing difficulties accommodating the increasing number of corona patients who need intensive medical care.
Table of Contents
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Industry Policies
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Popularity of MEMS Technology
5.1.2 Increasing Demand for Dry Vacuum Pump
5.2 Market Challenges
5.2.1 High Cost and Compatibility Issues
6. IMPACT of COVID-19 ON THE MARKET
7. MARKET SEGMENTATION
7.1 By Type
7.1.1 Rotary Vacuum Pumps
184.108.40.206 Rotary Vane Pumps
220.127.116.11 Screw and Claw Pumps
18.104.22.168 Roots Pumps
7.1.2 Reciprocating Vacuum Pumps
22.214.171.124 Diaphragm Pumps
126.96.36.199 Piston Pumps
7.1.3 Kinetic Vacuum Pumps
188.8.131.52 Ejector Pumps
184.108.40.206 Turbomolecular Pumps
220.127.116.11 Diffusion Pumps
7.1.4 Dynamic Pumps
18.104.22.168 Liquid Ring Pumps
22.214.171.124 Side Channel Pumps
7.1.5 Specialized Vacuum Pumps
126.96.36.199 Getter Pumps
188.8.131.52 Cryogenic Pumps
7.2 By End-user Application
7.2.1 Oil and Gas
7.2.4 Chemical Processing
7.2.5 Food and Beverages
7.2.6 Power Generation
7.2.7 Other End-user Applications (Wood, Paper and Pulp, etc.)
7.3 By Geography
7.3.1 North America
7.3.3 Asia Pacific
7.3.4 Latin America
7.3.5 Middle East and Africa
8. COMPETITIVE LANDSCAPE
*List Not Exhaustive
8.1 Company Profiles
8.1.1 Ingersoll Rand Inc.
8.1.2 Atlas Copco AB (Edwards)
8.1.3 Flowserve Corporation
8.1.4 Busch Vacuum Solutions (Busch group)
8.1.5 Pfeiffer Vacuum GmbH (Pfeiffer Vacuum Technology AG)
8.1.6 ULVAC Inc.
8.1.7 Graham Corporation
8.1.8 Global Vac
8.1.9 Becker Pumps Corporation
8.1.10 Ebara Corporation
8.1.11 Wintek Corporation
8.1.12 Tsurumi Manufacturing Co., Ltd.
9. INVESTMENT ANALYSIS
10. FUTURE OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Vacuum Pump Market market is studied from 2019 - 2026.
What is the growth rate of Vacuum Pump Market?
The Vacuum Pump Market is growing at a CAGR of 7.41% over the next 5 years.
Which region has highest growth rate in Vacuum Pump Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Vacuum Pump Market?
North America holds highest share in 2021.
Who are the key players in Vacuum Pump Market?
Ingersoll Rand Inc., Atlas Copco AB, Flowserve Corporation, Busch Vacuum Solutions (Busch group) , Pfeiffer Vacuum GmbH (Pfeiffer Vacuum Technology AG) are the major companies operating in Vacuum Pump Market.