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Vacuum Pumps Market 2020| Industry Developments, Outlook, Current Trends by 2026

Author : Rahul Varpe | Published Date : 2020-09-08 

The global vacuum pumps market size is anticipated to depict quite an expansion in the years ahead, driven by the robust growth of the electronics and semiconductors sector worldwide. The advent of e-commerce and the rising number research programs undertaken, pertaining to nuclear fusion and nanotechnology, will also drive vacuum pumps industry growth.

The vacuum pumps market size is anticipated to surpass USD 7 billion by 2026.

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One of the main factors pushing vacuum industry trends is the increasing number of oil & gas production and exploration projects across the globe. As the demand for crude oil across the industrial and transportation segment increases, the number of exploration activities rise as well. Rising deployment of vacuum pumps to extract and process the crude oil will stimulate the industry expansion.

Quite overtly, this has made the oil and gas sector a rather important end-use industry segment for vacuum pumps market. In the U.S., the government lifted restrictions on the production of energy reserves worth USD 50 trillion, in 2016. The government also announced plans for employing close to 90% of the offshore territory in U.S. for O&G drilling and exploration projects, which will substantially increase the demand for vacuum pumps in the region.

In terms of the lubrication mechanism, dry vacuum pumps are witnessing quite a surge in demand, especially across the petrochemical, pharmaceutical, packaging, and chemical industries. Increasing demand for electronic gadgets among the millennials will stimulate product requirement, as vacuum pumps are needed for increasing production capacity for chips and semiconductors.

With respect to the technology landscape, kinetic vacuum pumps hold quite some industry share, as they use mechanical or vapor stream systems to help displace gas molecules via accelerating hem in the pumping direction. Kinetic pumps are mostly used to generate high or ultra-high vacuum environments. They include products like liquid jet pumps, ion transfer pumps, diffusion pumps, and turbomolecular pumps, and are priced slightly higher than their counterparts.

High vacuum pumps stand tall in the product hierarchy of this industry. They are used in applications like evaporation coating, space technology, mass spectroscopy, and electron microscopy – all of which require high vacuum. In order to enhance operations and make them more efficient however, they are used in combination with low and medium vacuum pumps and booster pumps.

Regionally, Latin America is one of major investment hotspots for vacuum pumps industry players. The market there is still at a nascent stage and will witness appreciable growth over the forecast timeframe on account of the presence of robust electronics and semiconductor manufacturing industries. The shifting focus of stakeholders in the U.S. to LATAM, on account of favorable government policies and low-cost labor will also drive vacuum pumps market trends.

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Major vendors of vacuum pumps industry have been deploying tried-and-tested as well as novel tactics to sustain in the business. For example, Gardner Denever, in 2018, took over Runtech Systems to expand vacuum, flow control technology, and pressure systems and services. In August 2017, Pfeiffer Vacuum bought Nor-Cal Products Inc., and has since then, strengthened its stance in vacuum pumps market.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

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