Vacuum Pump Market Size
|Study Period||2018 - 2028|
|Market Size (2023)||USD 6.55 Billion|
|Market Size (2028)||USD 9.36 Billion|
|CAGR (2023 - 2028)||7.41 %|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Vacuum Pump Market Analysis
The Vacuum Pump Market size is expected to grow from USD 6.55 billion in 2023 to USD 9.36 billion by 2028, at a CAGR of 7.41% during the forecast period (2023-2028).
- A vacuum pump is a type of pump that draws gas particles from a sealed volume and leaves a partial vacuum behind. There are numerous applications for vacuum pumps across numerous industries. Vacuum pumps' adaptability in various applications is a crucial growth engine for the global vacuum pump market. Additionally, it is utilized in multiple applications, including cleaning, sealing, and others.
- Vacuum pumps are used in a wide variety of industrial and scientific applications. They manufacture CRTs, vacuum tubes, electric lamps, flight instruments, print presses, glass and stone cutting factories, suction-based medical applications, electron microscopy, photolithography, uranium enrichment, and composite molding.
- Due to their versatility, vacuum pumps are used in various applications. The oil and gas industry has adopted this machine to extract and compress the gas, which significantly impacts the market. The main growth drivers for the global vacuum pump market are rising crude oil production and the discovery of newer oilfields.
- Additionally, vacuum pumps are crucial to the manufacturing of semiconductor devices. Smartphones and other consumer electronics, automotive, and other applications drive the demand for semiconductor ICs. These are brought on by technological changes, including 5G wireless and artificial intelligence. Additionally, the semiconductor industry is anticipated to invest in this machinery due to the current popularity of Internet of Things-based devices.
- Vacuum pumps also have a significant impact on the pharmaceutical sector. All manufacturing processes use these pumps, including drying, distillation, degassing, crystallization, sublimation, and filling. Each vacuum pump is a component of a vacuum prime system used to create intermediate goods, active pharmaceutical ingredients, and large-scale pharmaceuticals. Vacuum pumps are essential components that perform essential tasks in the value chain because of these applications in various end-user industries.
- Moreover, to maintain a competitive edge in the market, many vendors continuously invest through a range of partnerships, product launches, acquisitions, and other activities. For instance, Atlas Copco completed the acquisition of HHV Pumps Pvt. Ltd in January 2022. The business develops and produces vacuum pumps and systems for use in a variety of industries. THHV Pumps is a top supplier of rotary vane pumps used in the production of refrigeration and air conditioning, vacuum pumps for the chemical and pharmaceutical industries, electrical power equipment, and general industry.
- Additionally, the market may have a profitable opportunity for growth due to growing research and development into the use of vacuum pumps in the medical industry. Additionally, vacuum pumps are expected to present growth opportunities for the market's players due to their increasing use in seawater desalination and their increasing significance in the photovoltaics value chain.
- Due to their wide-ranging applications and advantages, the market is anticipated to experience significant demand from several industries. However, improper vacuum pump installation, high power consumption, and increased product operation and maintenance costs could restrain market expansion.
- Due to supply chain and logistics disruptions brought on by the COVID-19 pandemic, the market for vacuum technologies was initially impacted. Later on, however, it saw a rise in adopting several other solutions. According to Altas Copco, order volumes for equipment also increased, primarily due to an increase in vacuum equipment demand across several regions in the semiconductor industry. The industries have begun to resume operations at levels equal to or higher than before the pandemic, so the market is anticipated to continue to expand.
Vacuum Pump Market Trends
Rotary Vacuum Pump Expected to Hold Significant Market Share
- The rotary vacuum pump is one of these types of pumps that is useful in various situations and used by professionals in multiple fields. These pumps, which use a positive displacement system, are most frequently used in the commercial, industrial, automotive, and Commercial industries. It can be used in laboratory and industrial settings as well. The fluids that are pumped most frequently in these situations are gas, oil, and water.
- The automotive sector is the one that employs rotary vane pumps the most. This kind of pump is used in the car's braking system, power steering system, automatic transmission, and supercharging system, among other places. Rotary vacuum pumps are used in the systems of different vehicle types, such as airplanes. Some air conditioners, espresso, and soft drink dispensers are other applications for this kind of pump.
- Moreover, the automotive industry is where rotary vane vacuum pumps are most frequently used, where they are essential parts of many different vehicle parts. For example, hydraulic fluid in power steering systems is pressurized using rotary vane pumps. Additionally, they are employed as fixed and variable output units in automatic transmissions. The demand for Rotary vane pumps is anticipated to increase significantly with the growth of the automotive industry. For instance, according to SIAM, domestic dispatches in India increased by 21% to 17,06,831 units in 2022-23 from 14,14,277 units in the preceding fiscal year.
- Rotating vacuum pumps can run dry with clean air or pump oil, gas, and other liquids in addition to the vacuum. The oil and gas industry is a sector that significantly boosts demand for Rotary vacuum pumps. Additionally, the market may benefit from a lucrative expansion opportunity due to growing research and development into the integration of vacuum pumps into the oil and gas industry.
- Middle-East and Africa, the region with the highest oil production, is anticipated to present vacuum pump suppliers with significant growth opportunities. For instance, Saudi Arabia produced 10,954 barrels of crude oil per day in 2021, according to British Petroleum (BP). These trends will help the market under study grow in the upcoming years.
- Air and gases can also be pumped out of a sealed or constrained space using rotary vacuum pumps. Food and beverage, processing, chemical and pharmaceutical, automotive, oil and gas, and a wide range of other industries all use them. Additionally, the market may benefit from a lucrative expansion opportunity due to growing research and development into the integration of vacuum pumps into these industries.
- For instance, Pfeiffer Vacuum released the first mass spectrometry-specific rotary vane pump with a hermetically sealed pump housing in November 2022. The SmartVane is a backup pump for mass spectrometers (ICP-MS, LC/MS) used in environmental, food, pharmaceutical, and clinical analytics. The vacuum pump is made to make sure there are no oil leaks, which prevents contamination. It is quieter than other pumps used for this type of application because its typical operating pressure is less than 10 hPA.
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North America to Hold Significant Market Share
- North America is expected to hold the largest market share of the Vacuum Pump Market over the forecast period, led by the United States, owing to high unmet needs, growing water scarcity, and increased demand for clean drinking water. Additionally, over the forecasted period, significant research and developments in pharmaceutical, healthcare, industrial manufacturing, and many other industries will help to meet the rising demand.
- The rising investments in end-user industries like oil and gas, chemical, and power generation significantly impact the vacuum pump market in the North American region. Oil sands are a plentiful source of oil for the region's nations, including the US and Canada. For instance, 97% of Canada's proven oil reserves are found in the oil sands, according to Natural Resource Canada.
- The processing of beverages is yet another industry that gains from using vacuum pumps. The beverage processing industry in the region is expected to offer the market plenty of opportunities due to recent technological developments and rising investment levels. For instance, Nestlé announced in January 2023 that it would expand a Wisconsin factory by USD 43 million in an effort to increase production of its Boost and Carnation Breakfast Essentials ready-to-drink (RTD) products. Such investments will increase the demand for vacuum pumps in the industry.
- Additionally, the US has been one of the leaders in developing new renewable energy technologies and has pioneered several solar energy projects. In the United States, energy production is still rising quickly. For instance, ExxonMobil, one of the major oil producers in the nation, recently announced plans to increase production activity in the West Texas Permian Basin by producing roughly 1 million BPD of oil equivalent by 2024. Such factors will accelerate market expansion by giving manufacturers more opportunities to meet demand.
- Vacuum pumps are most frequently used in the automotive sector, where they are essential in a range of automobile parts. According to Statistics Canada, the total number of road motor vehicles registered in Canada increased to 26.2 million in 2021, up 1.9% from 2020. Nine out of every ten motor vehicles registered in 2021 were light-duty, totaling 24.1 million. The need for vacuum pumps is anticipated to increase significantly due to investments in the region's automobile industry and expansion facilities.
- Due to their widespread use in mining plants, vacuum pumps may see an increase in investment by mining companies as coal sales in the North American region increase. The Energy Information Administration estimates that the United States consumed 133.7 MMst of coal in the first quarter of 2022. The 114.1 MMst reported in the fourth quarter of 2021 was 17.2% lower than this. Such developments could result in installing numerous conventional and cutting-edge vacuum pumps by coal plants, increasing the demand for vacuum pumps in this area.
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Vacuum Pump Industry Overview
The vacuum pump market is 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 that are giving intense rivalry among competitors. Key players are Gardner Denver Inc., Atlas Copco Group, Flowserve Corporation, etc.
In May 2022, Atlas Copco launched a new range of GHS VSD+ vacuum pumps. The new GHS 1402-2002 VSD+ series pumps have a new design for better performance, a smaller footprint, optimal oil separation, and an innovative new controller to support the use cases of Industry 4.0. The company offers these speed-driven screw pumps in three pumping speed classes.
In May 2022, Advik Hi-Tech, a leading automotive component manufacturer, announced that it had entered into an exclusive technology licensing agreement with Entecnia, Spain, for electric vacuum pumps for the braking systems of passenger cars. The partnership is expected to enable Advik to cater to OEMs entering the xEV's space as well as help them reduce CO2 emissions for ICE vehicles.
Vacuum Pump Market Leaders
Ingersoll Rand Inc.
Atlas Copco AB
Busch Vacuum Solutions (Busch group)
Pfeiffer Vacuum GmbH (Pfeiffer Vacuum Technology AG)
*Disclaimer: Major Players sorted in no particular order
Vacuum Pump Market News
- Mar 2023: Kaishan USA, a global manufacturer of industrial air compressors, has introduced the KRSV series of industrial vacuum pumps. The brand-new Kaishan KRSV oil-flooded rotary screw vacuum pumps come completely assembled and prepared to be plugged into any system or used independently right out of the box. The vacuum pumps are a market pioneer in energy efficiency and have a combination of variable speed drive and variable discharge port airend.
- Mar 2022: Ingersoll Rand introduced the new SVT Series of high efficiency, high capacity oil-lubricated rotary screw vacuum pumps for industries such as electronics and food and beverage. The SVT series is made to run intelligently and maintain ideal vacuum levels and flow rates by automatically changing the pump speed to match the actual demand, maximizing energy savings that can range from 30 to 50% when compared to other fixed-speed technologies.
- Jan 2022: Atlas Copco acquired HHV Pumps Pvt. Ltd, a company that designs and manufactures vacuum pumps and systems for applications used in various industries. The vacuum pumps offered by HHV Pumps are used for electrical power equipment, chemical and pharmaceutical industries, and the general industry. The acquisition is expected to help Atlas Copco further expand its market presence in the Asia-Pacific region.
Vacuum Pump Market Report - 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
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
4.5 Impact of COVID-19 on the Vacuum Pumps Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Crude Oil Production and the Newer Oilfields
5.1.2 Increasing Demand for Dry Vacuum Pump
5.2 Market Challenges
5.2.1 High Cost and Compatibility Issues
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Rotary Vacuum Pumps
126.96.36.199 Rotary Vane Pumps
188.8.131.52 Screw and Claw Pumps
184.108.40.206 Roots Pumps
6.1.2 Reciprocating Vacuum Pumps
220.127.116.11 Diaphragm Pumps
18.104.22.168 Piston Pumps
6.1.3 Kinetic Vacuum Pumps
22.214.171.124 Ejector Pumps
126.96.36.199 Turbomolecular Pumps
188.8.131.52 Diffusion Pumps
6.1.4 Dynamic Pumps
184.108.40.206 Liquid Ring Pumps
220.127.116.11 Side Channel Pumps
6.1.5 Specialized Vacuum Pumps
18.104.22.168 Getter Pumps
22.214.171.124 Cryogenic Pumps
6.2 By End-user Application
6.2.1 Oil and Gas
6.2.4 Chemical Processing
6.2.5 Food and Beverage
6.2.6 Power Generation
6.2.7 Other End-user Applications (Wood, Paper and Pulp, etc.)
6.3 By Geography
6.3.1 North America
6.3.4 Latin America
6.3.5 Middle-East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Ingersoll Rand Inc.
7.1.2 Atlas Copco AB (Edwards)
7.1.3 Flowserve Corporation
7.1.4 Busch Vacuum Solutions (Busch group)
7.1.5 Pfeiffer Vacuum GmbH (Pfeiffer Vacuum Technology AG)
7.1.6 ULVAC Inc.
7.1.7 Graham Corporation
7.1.8 Global Vac
7.1.9 Becker Pumps Corporation
7.1.10 Ebara Corporation
7.1.11 Wintek Corporation
7.1.12 Tsurumi Manufacturing Co. Ltd
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Vacuum Pump Market Research FAQs
How big is the Vacuum Pump Market?
The Vacuum Pump Market size is expected to reach USD 6.55 billion in 2023 and grow at a CAGR of 7.41% to reach USD 9.36 billion by 2028.
What is the current Vacuum Pump Market size?
In 2023, the Vacuum Pump Market size is expected to reach USD 6.55 billion.
Who are the key players in Vacuum Pump Market?
Ingersoll Rand Inc., Atlas Copco AB, Flowserve Corporation, Busch Vacuum Solutions (Busch group) and Pfeiffer Vacuum GmbH (Pfeiffer Vacuum Technology AG) are the major companies operating in the Vacuum Pump Market.
Which is the fastest growing region in Vacuum Pump Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Vacuum Pump Market?
In 2023, the North America accounts for the largest market share in Vacuum Pump Market.
Industrial Vacuum Pumps Industry Report
Statistics for the 2023 Industrial Vacuum Pumps market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Vacuum Pumps analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.