The report on the Global Vacuum Pumps Market published recently by Value Market Research, a popular market research company states that the global vacuum pumps market had a value close to USD 4.5 BN in 2019 and is estimated to touch USD 6.7 BN by 2026 with a CAGR of 6%. The high demand for vacuum pumps from the automotive, medical, semiconductors, chemical, energy and medical applications are responsible for propelling the growth of the global vacuum pumps market. The major application of vacuum pumps is to clean engines and machinery in order to extend their shelf life. Also, the increase in investment in the industries along with the rise in R&D of the major key players towards the production of small-scale and energy-efficient vacuum pumps is expected to foster market growth.
The vacuum pump is a device that is used to remove gas from an enclosed space by leaving a partial vacuum. These pumps are extensively used in plastic and composite molding, manufacturing of vacuums tubes and electric lamps, processing semiconductors, coating process, air conditioning systems and in various medical applications. The major areas of applications of vacuum pumps are automotive, energy, chemical, semiconductor and the healthcare sector. The increasing purchase power of the middle-class population around the world in addition to the rapid technological developments in electronic products such as computers, mobile phone and tablets are few of the other factors fuelling the market growth. However, impeller design, improper priming and clogging of the suction pipeline are causing restrictions to the growth of the market.
The report “Global Vacuum Pumps Market Report By Type (Liquid Ring Vacuum Pumps, Dry Vacuum Pumps, Rotary Vane Vacuum Pump, Turbo Molecular Vacuum Pump And Steam Jet Ejectors), End-User (Oil And Gas, Power, Chemical Processing, Pulp And Paper And Semiconductor) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026” covers the market and the market flow along with a segmentation by type, end-user, geography and key players.
By type, liquid ring vacuum pumps, dry vacuum pumps, rotary vane vacuum pumps, turbomolecular vacuum pumps and steam jet ejectors are the segments of the global vacuum pumps market where dry vacuum pumps have been identified as the leading segment as per the report.
By end-user, oil & gas, power, chemical processing, pulp & paper and semiconductor are the segments of the global vacuum pumps market where semiconductor has been found out to be the leading segment as per the report.
North America, Europe, Asia Pacific, Latin America and Middle East & Africa are the geographical segments of the global vacuum pumps market where North America has reportedly dominated this geographical segmentation.
The Report Segments Global Vacuum Pumps Market -
Players Profiled In the Report:
Atlas Copco, Dekker Vacuum Technologies, Inc., Ebara Corporation, Gebr. Becker GmBH, Kashiyama Industries, Ltd., KNF Neuberger GmBH, Pfeiffer Vacuum GmBH, Tsurumi Manufacturing Co., Ltd., Tuthill Vacuum & Blower Systems and ULVAC, Inc.
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