The vacuum pump is a device that removes gas molecules from a sealed volume in order to leave behind a partial vacuum. It works by exposure of a container to an environment of lower pressure and transferring the gas molecules from low to high pressure. Vacuum pumps are used for evacuation, circulation and deposition of gases in various industrial processes. The key applications of vacuum pumps include semiconductor and packaging, coating, material transport, research and development, manufacturing processes, pollution control and others.
The vacuum pump market size is estimated to be valued at US$ 7.5 billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2030. The market is driven by significant demand from the semiconductor industry where vacuum pumps are used for precision coating, evaporation, deposition, cleaning and material transportation. Rapid growth in miniaturization and scale of semiconductor chips has ramped up the demand for pumps that can deliver high vacuum levels. Additionally, rising use of vacuum technology in surface treatment and thin-film coating of products is supplementing the vacuum pump adoption across various industries including automotive, aerospace, packaging and metal processing.
Key Takeaways
- Key players operating in the vacuum pump market are 3M Company, Johnson & Johnson, Procter & Gamble, Reckitt Benckiser Group plc, and Ecolab Inc. These players are focusing on new product launches and expansion plans to strengthen their market presence.
- The semiconductor industry has been a major growth driver for vacuum pumps with increasing demand for smaller and more powerful chips. Rapid construction of new fabs along with capacity expansion of existing facilities is propelling vacuum pump procurement.
- Technological advances are allowing vacuum pump manufacturers to produce more compact, energy efficient and durable pumps without compromising on performance. The emergence of rootless mono or twin scroll pumps is enhancing capabilities for high vacuum applications.
Market Trends
- Dry pumps gaining traction - Dry vacuum pumps that require no oil are seeing higher preference compared to oil-sealed vacuum pumps as they eliminate maintenance requirements. Rising environmental regulations against use of oil make dry pumps more viable.
- Remote monitoring and servicing - Vacuum Pump Market Demand manufacturers are offering Industrial IoT-enabled models that can be monitored remotely. Remote diagnostics enable predictive maintenance and reduce downtime.
Market Opportunities
- Growth in MEMs and sensor manufacturing - The proliferation of MEMS in automotive, consumer electronics and other industries is opening up opportunities for vacuum equipment suppliers to tap the untapped potential.
- Market expansion in Asia Pacific - Countries like China, India, South Korea and Taiwan offer lucrative prospects for vacuum pump companies given strong manufacturing investments, evolving technological capabilities and cost advantages in the region.
Covid-19 impact on Vacuum Pump market growth
The COVID-19 pandemic has significantly impacted the Vacuum Pump market. In the pre-COVID scenario, the market was growing at a steady pace due to increasing demand from diverse end-use industries like healthcare, chemical, oil & gas etc. However, the outbreak led to lockdowns across countries which massively disrupted the supply chain and halted production activities. This brought the market growth to a standstill in 2020. With restrictions being gradually lifted in 2021, the market is showing signs of recovery but is yet to match the pre-COVID levels.
The healthcare segment was the most severely impacted initially due to focus being shifted completely towards tackling the pandemic. This led to postponement of various non-COVID procedures and diagnostics which affected the demand for vacuum pumps. With resumption of regular healthcare activities, this segment is recovering faster compared to others. In chemical industry, reduced production of various materials during lockdowns slowed down the market. However, demand has bounced back with restarting of plants. The oil & gas sector recovery is dependent on revival of global economy and fuel consumption. Overall, the post-COVID period will be crucial for Vacuum Pump market to regain momentum gradually across application segments. Continuous innovation in product offerings will also be important for long term growth.
Regions contributing most to Vacuum Pump market value
North America accounted for the largest share of the global Vacuum Pump market value in the pre-COVID period owing to strong healthcare, oil & gas and industrial manufacturing sectors in the US and Canada. Europe and Asia Pacific also emerged as major regions. Within Europe, Germany, France and UK concentrated considerable market worth. In Asia Pacific, China dominated the regional market followed by Japan, South Korea and India.
Fastest growing region for Vacuum Pump market
Among all regions, Asia Pacific is expected to witness the fastest growth in the post-COVID period for the Vacuum Pump market. This is because countries like China and India are spearheading the global economic revival and their manufacturing sectors are showing green shoots of recovery. Rising investments in healthcare infrastructure expansion and growing oil & gas sector will specifically drive the demand from Asia Pacific. Meanwhile, North America and Europe will also see steady gains aided by initiatives for strengthening domestic manufacturing base.
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