According to MarkNtel Advisors’ research report titled “Global Vacuum Pump Market Analysis, 2020”, the market size of Global Vacuum Pumps is forecast to grow at a CAGR of around 7.46% during 2020-25. The report provides an in-depth market outlook and insights of market segments, key industry trends, factors impacting the regional sales of vacuum pumps, competitive benchmarking, technology upgrades etc.
The technological advancements in the electronics industry and increasing wafer size and miniaturization of electronic devices have been key factors stimulating the market growth of vacuum pumps globally. Moreover, the high reliability and performance of the product with low maintenance and operating cost are making it a favorable choice among the end-user industries. Also, the market value of vacuum pump in the end user industries including the semiconductors, thin films, coating and process manufacturing industries are growing at a rapid pace.
Apart from this, initiatives to prevent food wastage and the increasing shift of food and pharmaceuticals towards packaging from rigid to flexible are the key factors driving the coating market which is further is projected to drive the demand for vacuum pumps in the coming years.
Intensifying Demand for Electronic Gadgets to Uplift the Market Share for Semiconductor Industry
The semiconductor end-user industry is forecast to be the fastest-growing end-user industry in the Global Vacuum Pump market through 2025. The growing market size of the global electronics industry is, thus driving the demand for the vacuum pumps in the semiconductor industry. According to the Semiconductor Industry Association (SIA), the global market value of the semiconductors grew from USD 31.3 billion in 2017 to USD 37.6 billion in 2018, and is forecast to exceed USD 50 billion by 2024 Also, the growing demand for vacuum pumps in power, oil & gas, chemical processing, and semiconductor industries are expected to fuel the growth of vacuum pumps market globally. Moreover, the surging demand for photovoltaic (PV) modules products is also expected to proliferate the growth of thin-film PV manufacturing across different regions.
Sluggish Industrial Sectoral Growth in North America and Europe to Impact the Overall Vacuum Pump Market Growth
The Asia-Pacific region captured the majority market share in the Global Vacuum Pump market in 2019, followed by North America and Europe, as stated in the MarkNtel Advisors’ research report on “Global Vacuum Pump Market Analysis, 2020”. The sluggish growth in the end-user industries of the Vacuum Pump market is projected to result in a decline in the market position of these regions in the years to come. However, the vacuum pump market growth in Europe will be supported by increasing demand for vacuum pumps in the chemical industries, wafer fabrication material manufacturing industries, automotive industry, coatings industry and etc.
According to the MarkNtel Advisors research report, the key market players in the Global Vacuum Pump industry include Atlas Copco, Pfeiffer Vacuum, Gardner Denver, Inc., ULVAC, Inc., EBARA Corporation, Gebr Becker GmbH, Busch Production GmbH, Kashiyama Industries Limited, KNF Neuberger GmbH, Others. The market competitors are gradually investing in technology to exploit market opportunities across various geographies. The rapid technological growth is expected to open new avenues of development for the vacuum pump manufacturers.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What would be the growth rate or CAGR global vacuum pumps market during 2020-25?
A. The market size of global vacuum pumps market during 2020-25 is forecast to be around 7.29%
Q Which region would grab the highest market share during 2020-25?
A. It is forecast that Asia Pacific will dominate the market with majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating in global vacuum pumps market?
A. Atlas Copco, Pfeiffer Vacuum, Gardner Denver, Inc., ULVAC, Inc., EBARA Corporation, Gebr Becker GmbH, Busch Production GmbH, Kashiyama Industries Limited, KNF Neuberger GmbH are few of the leading players in the global vacuum pumps market.
Q. Does the report scope cover country wise market statistics also?
A. Yes, the scope of the report encompass detailed country statistics such as market size, market segmentation based on various subcategories
Q. Which end user segment would emerge as an opportunity area for players in vacuum pumps?
A. Semiconductors would continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of vacuum pumps across the globe