The global vacuum pumps market report provides a detailed market insight on the market statistics (By Revenues, Units Sold), market segmentation based on the type of technology of vacuum pumps, end users, and leading competitors. The report’s scope includes an exhaustive study and survey analysis of 18 leading markets for vacuum pumps, with substantial market insights on other markets. Several macro and microeconomic factors have been considered in order to present the market analysis and forecast of the global vacuum pumps market.
According to MarkNtel Advisor’s report titled Global Vacuum Pumps Market Analysis, 2020, the global vacuum pumps market is currently in a mature stage of growth. The market size was around USD 6 billion in 2019, registering a considerable CAGR.
In terms of market segmentation based on application, the mass spectrometry contributed significantly to the vacuum pumps market specifically in the analytical instruments segment in 2019.
Rising investments in solar power are pushing the demand for rotary and kinetic vacuum pumps. Specialized pumps are of two types: cryogenic and getter. Specialized pumps are used for specific and customized applications in most end-user industries such as power, HVAC, etc.
Process Industry to Register Faster Growth
The process industry registered a substantial market share and is projected to continue as the second-fastest growing end-user application for vacuum pumps, due to robust growth in chemical industries in Asia-Pacific, Middle East, and African regions, as reported by MarkNtel Advisors in its research report Global Vacuum Pumps Market Analysis, 2020. Growing demand for vacuum pumps in fine chemicals, petrochemicals, pharmaceuticals, and plastics is expected to fuel the growth of the vacuum pumps market globally. In the thin-film industry, vacuum pumps find the majority of its application in optical coating and production of photovoltaic cells and display coatings, etc.
Robust growth in the semiconductor industry owing to the strong demand for electronic products coupled with increasing demand for coatings are expected to flourish the vacuum pumps market growth, thereby increasing its market share through 2025.
The other major market drivers for global vacuum pumps market include growth of vacuum processes in the semiconductor industry due to an increase in electronics manufacturing driven by digitization and IIOT.
MarkNtel Advisors’ report Global Vacuum Pumps Market Analysis, 2020 benchmarks several competitors on the basis of their offerings, sales strategies, market revenues, target markets, etc. The report highlights that Atlas Copco was the pioneer in the market in 2019. However, other major players operating in the market include Pfeiffer Vacuum Technology AG, Gardner Denver, Agilent Technologies, UVLAC, Ebara Corporation, Leybold GmbH., Busch Vacuum Pumps and Systems, Shimadzu Corporation, Kashiyama Industries Ltd., KNF Neuberger GmbH, Gast Manufacturing, etc.