February 16, 2021
According to the business intelligence report titled ‘Global Vacuum Pumps Market Analysis, 2020’ available with Market Study report LLC, global vacuum pumps market is calculated to register a robust compound annual growth rate of 7.46% during the forecast period of 2020 to 2025.
The report states that ongoing technological advancements in the consumer electronics vertical coupled with increasing miniaturization as well as wafer size of electronic devices are stimulating the global vacuum pumps market outlook.
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Additionally, low operating as well as maintenance costs of vacuum pumps along with rising product adoption across various end-user verticals such as process manufacturing, coating, thin films, and semiconductors are further fueling the industry expansion.
Research analysts claim that favorable initiatives aimed at preventing food wastage, innovative product launches, shifting preferences of the food and pharmaceutical industries towards flexible packaging from rigid packaging, and strategic alliances by industry participants are positively swaying the global vacuum pumps market dynamics.
Speaking of product type, the overall market is bifurcated into specialized, dynamic, kinetic, reciprocating, and rotary among others.
With regards to end-user landscape, the semiconductor industry is projected to emerge as a major revenue generator for the market during the analysis timeframe. Increasing adoption of vacuum pumps across the sectors of chemical processing, oil & gas, and power along with escalating demand for photovoltaic module products are fostering the growth of the segment.
From a regional point of view, Asia-Pacific accounted for a majority of the global vacuum pumps market share in 2019 and is anticipated to amass lucrative gains over 2020-2025.
Alternatively, Europe is predicted to rise as lucrative growth avenue for the industry, on account of surging product demand in sectors of automotive, coatings, chemicals, and wafer fabrication material manufacturing.
Prominent companies that influence the global vacuum pumps market trends include Atlas Copco AB, Gardner Denver, Inc., Pfeiffer Vacuum, ULVAC, Inc., Gebr Becker GmbH, EBARA Corporation, Busch Production GmbH, KNF Neuberger GmbH, Kashiyama Industries Limited, Samson Group A/S, Shimadzu Corporation, PIAB AB, and Tuthill Corporation.