Market Research Future (MRFR) has published a cooked research report on the “Global Vacuum Pumps Market” that contains information from 2018 to 2032. The Vacuum Pumps market is estimated to register a CAGR of 4.90% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Vacuum Pumps market— CoVacuum pumpo AB, Becker Pumps Corporation, Busch Vacuum Solutions, Ebara Corporation, Flowserve Corporation, GlobalVac & Air, Graham Corporation, and Ingersoll Rand, Pfeiffer Vacuum GmbH, ULVAC Inc.
The global vacuum pumps market is accounted to register a CAGR of 4.90% during the forecast period and is estimated to reach USD 7.99 billion by 2032.
The primary purpose of a vacuum pump is to remove gas molecules from a confined space and leave a partial vacuum in its wake. In order to remove air and gases from a closed or limited environment, a vacuum pump is used, leaving no room for air or gas molecules. Basic maintenance is required to keep the machinery in working order because these sorts of pumps are susceptible to damage over time. In order to process semiconductors, vacuum pumps are most frequently employed to create electric lamps and vacuum tubes.
The vacuum pump market's overall expansion is primarily driven by consumer investments in new manufacturing technologies and, to a lesser extent, investments in production capacity. The growing use of vacuum pumps in the semiconductor, electricity, chemical processing, oil & gas, and oil & gas industries is another factor driving the need for them.
Access full report @ https://www.marketresearchfuture.com/reports/vacuum-pumps-market-11708
The global Vacuum Pumps market has been segmented based lubrication, pressure, and end user.
On the basis of lubrication, the market is segmented into dry and wet. The dry segment was attributed to holding the largest market share in 2022.
Based on pressure, the global Vacuum Pumps market has been segmented into the market is segmented into vacuum pumps, medium vacuum pumps, high vacuum pumps, ultra-high vacuum pumps, and extreme high vacuum pumps. The high vacuum pumps segment was attributed to holding the largest market share in 2022.
Based on end user, the global Vacuum Pumps market has been segmented into automotive, chemical and petrochemical, aerospace and defense, oil and gas, healthcare and pharmaceuticals, and others. The chemical and petrochemical segment was expected to hold the largest market share in 2022.
The global Vacuum Pumps market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Vacuum Pumps market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Vacuum Pumps market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Vacuum Pumps market comprises of Middle East, Africa, and Latin America.
In the year 2022, the North American vacuum pump market grew significantly. Due to the surge in shale gas production in the United States and the stabilizing oil prices, vacuum pumps are being used more and more in the chemical and oil and gas industries.
Moreover, the Europe market has been persistently growing over the forecast period. The expansion of natural gas production along with rising investments in end-user sectors including oil and gas, chemicals, and power generation are likely to propel the European vacuum pump market to a respectable growth rate during the forecast period.
Over the forecast period, the Asia Pacific Vacuum Pumps market is expected to rule the industry. The growing investments in end-user industries including oil and gas, chemical, and power generation have a significant impact on the vacuum pump market in the Asia Pacific region.
Furthermore, the rest of the world's Vacuum Pumps market is divided into the Middle East, Africa, and Latin America. The Latin America and MEA vacuum pumps market is a growing industry that is driven by the increasing demand for vacuum pumps in various end-use industries such as chemical processing, food and beverage, pharmaceuticals, and semiconductor manufacturing. Vacuum pumps are used to create and maintain a vacuum in a system or chamber, which is essential in many industrial processes.
Key Findings of the Study