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Vacuum pumps market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Dec 2020 | 32 Views
 
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Vacuum pumps market Outlook - 2027

A vacuum pump is a device that is used to remove gas molecules from any contained volume by leaving some amount of vacuum behind. These instruments are generally used to produce vacuum tubes and electric lamps for the processing of semiconductors. They are widely used in electron microscopy, flight instruments, stone and glass processing, and more. They provide numerous advantages like dry compression, ultimate vacuum, and no contamination. These devices hold major applications in industries like chemical & pharmaceutical, oil & gas, wood, paper & pulp, food & beverages, semiconductor & electronics, and others.   

Market scope and structure analysis:

                 Report Metric

                                      Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value ($Million)

  Segments covered

  Lubrication, technology, product type, end-use industry, and region

  Geographies covered

North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

 

Major players analyzed include Atlas Copco, Gardner Denver, Pfeiffer Vacuum Technology AG, ULVAC Inc., Agilent Technologies Inc., Leybold GmbH., Ebara Corporation., Shimadzu Corporation, Busch Vacuum Pumps and Systems, and Kashiyama Industries Ltd.

 

COVID-19 Scenario analysis:

  • COVID-19 pandemic has shut-down the production of various products in the vacuum pumps industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of vacuum pumps market significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Drivers, restraints, and opportunities

Growing demand for vacuum pumps from end-use industries like semiconductors, chemical, automotive, energy, and medical due to their major applications like cleaning of machinery and engines to increase the shelf life is expected to drive the growth of the vacuum pumps market in the upcoming years. Besides, huge investments in R&D by market leaders for the development of energy-efficient, small-scale vacuum pumps can potentially steer the growth of the vacuum pumps market during the forecast period. Besides, the growing adoption of vacuum pumps in industries like semiconductor, oil & gas, chemical processing, power, and others is anticipated to boost the demand for vacuum pumps in the next few years. However, high operational and maintenance costs associated with vacuum pumps can be a restraining factor that can hamper the market growth. Conversely, increasing demand for crude oil from industrial and transportation sectors worldwide can increase the adoption of vacuum pumps for processing and extracting crude oil. This factor is expected to provide lucrative growth opportunities for the vacuum pumps market in the upcoming years.

Trends in the vacuum pumps market

New technological breakt hroughs in liquid ring vacuum pumps

The vacuum pumps market has been witnessing new technological advancements and breakthroughs lately. For instance, Atlas Copco, a Swedish company announced a breakthrough in the liquid ring vacuum pumps technology in 2019. The product named LRP700-1000 VSD+ offers a wide range of features like energy and water savings, operating noise in the range of 65 dB(a), variable speed drive technology, smart monitoring, and remote controllability, and more. The company claims that among all the liquid ring vacuum pumps available, this product offers the highest level of economy and efficiency along with standard scope of supply high degree of build quality. Such breakthroughs in the vacuum pumps technology can create a significant positive impact on the growth of the vacuum pumps market in the upcoming years.

Growing supply and demand for crude oil

Rapid globalization and industrialization worldwide have led to an increase in demand for crude oil. The U.S. is the top oil-producing country in the world as of 2019 with an average of 17.87 million barrels per day. The average oil production of the U.S. has jumped from 15.6 million barrels per day in 2018. China is the largest importer of crude oil in the world with an average of 10.1 million barrels per day. Rising productivity, imports, and exports of oil have resulted in an increasing demand for crude oil. Since vacuum pumps are very essential for the processing and extraction of crude oil, the demand for vacuum pumps is anticipated to increase in the upcoming years. The above factors can propel the growth of the vacuum pumps market during the forecast period.

Key segments covered:

  Segments

                  Sub-segments

  Lubrication

  1. Dry
  2. Wet

  Technology

  1. Gas Capture/Binding Pumps
  2. Positive Displacement Pumps
  3. Gas Transfer Pumps
  4. Kinetic Pumps

  Product type

  1. High Vacuum Pumps
  2. Medium Vacuum Pumps
  3. Low Vacuum Pumps

  End-use industry

  1. Chemical & pharmaceutical
  2. Food & beverages
  3. Oil & gas
  4. Wood, paper & pulp
  5. Semiconductor & electronics
  6. Others

 

Key benefits of the report:

  • This study represents the analytical representation of the global vacuum pumps market combined with the ongoing trends and future predictions to determine investment opportunities.
  • The present market is thoroughly analyzed from 2019 to 2027 to enlighten the vacuum pumps market growth.
  • The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global vacuum pumps market.
  • Segmentation details of the global vacuum pumps market.
  • The report gives a comprehensive global vacuum pumps market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years. 

Questions answered in the global vacuum pumps market research report:

  • Who are the leading market players currently active in the global vacuum pumps market?
  • What are the ongoing trends that will affect the market in the upcoming years?
  • What are the driving elements, opportunities, and restraints in the market?
  • What are the possible outcomes in the future that would play an important role in determining key strategic steps?
 
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