Industrial Vacuum Pumps Market Size, Share & Growth [2031]

Report Description

Industrial Vacuum Pumps Market Outlook 2031:

The global industrial vacuum pumps market was valued at USD 18,136.3 Million in 2022 and is anticipated to reach USD 28,452.9 Million by 2031, expanding at a CAGR of 5.3% during the forecast period.

A vacuum is a space empty of substance. In other words, it is the air pressure in a space that lies below atmospheric pressure. The vacuum plays a vital role in research in the fields of biology, chemistry, and physics. It is vital in many industrial processes.

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A vacuum pump is an equipment that removes air particles or gas molecules from a closed space in order to attain variance in pressure, producing a partial vacuum. These vacuum pumps are designed using a variety of technologies depending on the pressure requirements and applications they serve. The main function of a vacuum is to change the pressure in a controlled space to create a full or partial vacuum either chemically or mechanically.

Pressure will continuously try to match across connected regions as gas molecules move from high to low to fill the entire area of the controlled space. Therefore, if a low-pressure space is introduced, the gas naturally flows from the high-pressure area to the low-pressure area until they are of equal pressure.

Key Development in the Market

• May 2022: Atlas Copco, a vacuum pump manufacturer, introduced range of variable speed-driven oil-injected screw vacuum pumps. These pumps have new design for better performance, smaller footprints and longer maintenance intervals as well as an innovative new controller.

• March, 2023: Busch Group introduced sustainable and energy-efficient screw vacuum pumps. These pumps take up less space due to their optimized footprint and are also user-friendly as well as easy to handle.

Macro-economic Factors

Rising Industrialization

The industrial sector plays a key role in fostering socioeconomic resilience. Industrialization is driven by many factors, such as government policy, labor-saving inventions, entrepreneurial ambitions, and high demand for goods and services. Industrialization has a significant impact on the mass production of goods and services across the globe.

Thus, industrialization contributes to economic growth by enhancing productivity, innovations, and exports throughout the globe. This surged the manufacturing or production of various essential materials, such as food and beverage, semiconductors, chemicals, and pharmaceuticals.

The rising demand for semiconductors boosts the industrial vacuum pumps market, as these pumps are used to create a vacuum during semiconductor manufacturing. Therefore, industrialization impacts the manufacturing sector and leads to the growth of the industrial vacuum pumps market.

Inflation

Inflation refers to the rate of increasing prices over a certain period of time and decreasing purchasing power for both consumers and businesses. Inflation plays an important role in almost every industry and has a significant role in the industrial vacuum pumps market.

It affects the price of pumps, debt, and overall market. In 2022, the global inflation rate increased by around 8%. Inflation impacts the price of industrial vacuum pumps, which, in turn, impacts the end-use sectors for industrial vacuum pumps.

Unevenly rising prices of these pumps inevitably reduce the purchasing power of some end-use industries with low capital expenditure. Thus, the analysis of the inflation rate is an important factor in the study of the market.

Economic Growth

Economic growth refers to an increase in the level of economic activity in a country or region over the time. Typically, it is quantified by a gain in gross domestic product (GDP). Economic expansion is a crucial macroeconomic aspect that has a substantial impact on the industrial vacuum pumps market.

A growing economy often results in the expansion of firms and investments in new projects, which increases the demand for fast and efficient equipment, thereby increasing the demand for industrial vacuum pumps.

According to the Asian Development Bank, the gross domestic product (GDP) growth of India is expected to reach 6.4% in fiscal year (FY) 2023 and 6.7% in (FY) 2024, driven by private investment and private consumption on the back of government policies to improve logistics, transport infrastructure, and the business ecosystem.

Industrial Vacuum Pumps Market Dynamics

Market Driver- Increasing Demand for Semiconductors

Semiconductor manufacturing is a highly intricate process, which involve various types of wafer sizes, chips, process technologies, equipment, materials, and design tools. Some processes in semiconductor manufacturing are carried out under vacuum conditions. One of them include deposition process, which consists of depositing a material on the wafer through several technologies: PECVD (Plasma Enhanced Chemical Vapor Deposition), LPCVD (Low Pressure Chemical Vapor Deposition), PVD (Physical Vapor Deposition), SACVD (Sub-Atmospheric Chemical Vapor Deposition), or ALD (Atomic Layer Deposition).

The vacuum pumps are used to make sure that the processing environment is contaminant-free. The rising demand for consumer electronics increases the demand for semiconductors. This, in turn, boosts the demand for semiconductors, thus boosting the market.

Market Driver- Rising Demand from Food Manufacturing

Industrial vacuum pumps are used in various food manufacturing, such as sugar crystallization, corn evaporation, and vegetable oil deodorization. Vacuum pumps are used to make air-tight packaging seals for food, which reduce the growth of bacteria and mold. Vacuum pumps help to keep vegetables and fruits healthy and fresh directly after harvest.

Similarly, vacuum drying preserves vegetables and meat by supporting a maximum pressure, where the items are preserved and the water evaporates, thus creating a firm seal. The wide area of application of industrial vacuum pumps in the food and beverage industry fuels the market.

Market Restraint- High Cost and Environment Concerns

Rising energy costs and environmental concerns are making it increasingly difficult for companies to operate efficiently and sustainably. For instance, liquid ring pumps requires additional power in order to make and maintain the liquid ring.

This means that these pumps require large motors that use around 20% to 25% more energy than other pumps. This type of vacuum pumps consumes large amount of water during process. Furthermore, shortage of qualified professionals to install, monitor, and maintain complex, high-tech systems is likely to hamper the market.

Market Opportunity- Increasing Demand for Sustainable Options

The introduction of technologically advanced and energy-efficient vacuum pumps is fueling the market, addressing the needs for sustainable solutions. Smart vacuum pump play an important role in many manufacturing industries.

It assures that the system creates vacuum by routinely extending the evacuation time after the system reaches the predetermined vacuum level. Therefore, many industries are using smart vacuum pumps to provide an efficient process of vacuum solutions during the manufacturing processes.

Scope of the Industrial Vacuum Pumps Market Report  

The report on the global Industrial Vacuum Pumps Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Industrial Vacuum Pumps Market Segmental Outlook

Based on lubrication, the industrial vacuum pumps market is bifurcated into dry and oil-lubricated. The dry segment is expected to grow at a CAGR of 5.8% during the forecast period. Dry vacuum pumps are non-contact vacuum pumps that include oil-free or liquid-free sealing. They create a pure vacuum that prevents oil and water from diffusing or backflowing.

These pumps do not require regular maintenance, such as changing the oil or water, which makes them easy to handle. These pumps are indispensable in manufacturing processes of semiconductor devices, LEDs, FPDs, and solar batteries, which require a high degree of cleanliness. The applications of such pumps have increased in recent years, as it allows easy, clean exhaustion of gas from analyzers, such as electronic microscopes and mass spectrometers.

The oil-lubricated segment held substantial share of the market in 2022. Oil-lubricated industrial vacuum pumps are more reliable and slightly heavier than dry industrial vacuum pumps.

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Based on form, the industrial vacuum pumps market is categorized into gas transfer and gas capture. The gas transfer segment is expected to expand at a CAGR of 5.7% during the forecast period. Gas transfer industrial pumps are one of the most commonly used vacuum pumps. They are bifurcated into positive displacement pumps and kinetic vacuum pumps.

Positive displacement pumps are further divided into reciprocating vacuum pumps and rotary vacuum pumps. The positive displacement vacuum pumps are used to generate vacuums. The positive displacement vacuum pumps enlarge a cavity and allow gas molecules to move out of the sealed chamber or any other controlled space. After that, the cavity is closed and causes it to drain it to the atmosphere.

Gas is displaced by kinetic pumps by accelerating it in the direction of pumping, either by means of a directed vapor stream condensed at the end of the pumping section or by means of mechanical drive machinery. Vacuum pumps that are classified as gas-binding or gas-capture vacuum pumps condense the gas at the proper temperature or bind it to a particularly active substrate through gettering.

On the basis of pressure, the industrial vacuum pumps market is segmented into low vacuum, medium vacuum, high vacuum, ultra-high vacuum, and extreme high vacuum.

Vacuum pumps remove air molecules from a chamber or closed spaces. Vacuum ranges are characterized by the measurement of the absolute pressure of the system. If the pressure inside the chamber is lowered, it becomes difficult to extract the molecules. Therefore, the vacuum system designed for industrial applications required to be able to operate at a very large or high-pressure range. In other words, according to the applications, the vacuum pumps are available in different pressure ranges.

The high vacuum segment is expected to hold a significant market share in 2031, due to the increasing demand from manufacturing industries, which require efficient system to remove impurities and provide contamination free space. The medium vacuum segment is projected to grow at significant rate during the forecast period. This growth is attributed to the simple structure and ease of maintenance of medium vacuum pumps.

On the basis of the stage, the market is divided into single stage and multi-stage. Stage in pumps is the number of impellers in the pump. Single stage pumps consist of one impeller, whereas multi-stage pumps consist of at least two impellers.

The single stage segment held 57.1% market share in 2022, due to small size, simple structure, stable operation, and ease maintenance of single impeller, which makes it useful for many end-users. Single stage vacuum pumps are less expensive than multi-stage vacuum pumps. Single stage vacuum pumps exhaust into a built-in chamber in the pump that separates the oil from the pumped gas.

The multi-stage vacuum segment is expected to grow at a significant rate during the forecast period. This type of pumps are able to produce high pressure and power with a small motor. Multi-stage vacuum pumps are more energy-efficient than single stage vacuum pumps, thereby propelling the segment.

On the basis of the end-user, the market is categorized into food & beverage, energy and power, pharmaceutical, chemical, semiconductor, oil & gas, automotive, and others.

The food & beverage segment is anticipated to expand at a considerable CAGR during the projected period. Industrial vacuum pumps are used in food freeze drying systems where vacuum levels required. Vacuum technology helps to avoid spoilage, maintain the flavor, and enhance safety of food and beverage in the packaging. Another industry which uses industrial vacuum pumps is the chemical industry, they are used for distilling and degassing, industrial vacuum pumps allow the removal of air which has leaked into the material.

The semiconductor segment is expected to expand at a CAGR of 7.5% during the forecast period. Industrial vacuum pumps are used in semiconductor manufacturing to reduce impurities to prevent any contamination during the processes, such as ion implant, deposition, and lithography. Rising advancements in vacuum pumps continue to enhance the reliability and efficiency of these pumps for semiconductor production.

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Regional Outlook

On the basis of regions, the global industrial vacuum pumps market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia Pacific accounted for a large market share in 2022. Asia Pacific (APAC) is expected to exhibit exceptional growth in the market, due to rapid industrialization and urbanization. The presence of large-scale industries, such as semiconductors, electronics, and automotive, in the emerging countries, including India, China, and Japan, are anticipated to boost the market in the region. Furthermore, increasing investments in pharmaceuticals and chemical industries contribute to the growth of the industrial vacuum pumps market.

The market in North America registered a significant growth in 2022, due to the well-established industrial sector in this region. The US is the main contributor, with the presence of major pump manufacturers and surge in industrial activities. The increasing demand from oil & gas, pharmaceutical, and food & beverages industries boost the market in this region.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Industrial Vacuum Pumps Market

• Historical, Current and Projected Market Size in terms of Value

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on Global Industrial Vacuum Pumps Market Performance