SELBYVILLE, Delaware, Nov. 27, 2019 /PRNewswire/ -- According to a latest report by Global Market Insights, Inc. the vacuum pumps market is expected to cross US$ 7 billion by 2026. Continuous upsurge in growth of semiconductor and electronics industry will induce vacuum pumps demand in the projected time period.
Rising oil and gas exploration and production activities across the globe is the key driver influencing vacuum pumps market growth. Rising demand for crude oil from the transportation and industrial sector is escalating the exploration activities. Increasing utilization of vacuum pumps for extracting and processing the crude oil will escalate the industry size.
Dry vacuum pumps will foresee significant growth over the study timeframe with its application in industries including packaging, petrochemical, chemical, pharmaceutical etc. Rising demand for electronic devices and gadgets among the younger generation will require an increased production capacity for semiconductor and chips, thereby promoting dry vacuum pump demand over the study timeframe.
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Some major findings of the vacuum pumps market report include:
- China leads the vacuum market with prevailing semiconductor and electronics industry
- Nanotechnology and nuclear fusion research program to drive the product demand
- Emergence of e-commerce to enhance product accessibility and availability
- High industry rivalry leading to industry growth.
Kinetic pumps hold substantial share with their adoption to displace the gas molecules by accelerating them in the pumping direction by mechanical or vapor stream systems. These are used for generating high to ultra-high vacuum environments. They are relatively high priced and include products such as turbomolecular pumps, liquid jet pumps, diffusion pumps, ion transfer pumps, etc.
High vacuum pumps possess strong growth potential and are used in applications such as mass spectroscopy, evaporation coating, electron microscopy, and space technology requiring high vacuum. However, they are used in combination and medium and low vacuum backing and booster pumps for efficient operation.
Browse key industry insights spread across 324 pages with 518 market data tables & 15 figures & charts from the report, "Vacuum Pumps Market Size By Lubrication (Dry, Wet), By Technology (Gas Capture/Binding Pumps, Gas Transfer Pumps [Positive Displacement Pumps, Kinetic Pumps]), By Product (Low Vacuum, Medium Vacuum, High Vacuum), By Industry (Chemical & Pharmaceutical, Semiconductor & Electronics, Oil & Gas, Food & Beverages, Wood, Paper & Pulp), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/vacuum-pump-market
Oil & gas sector holds significant share with high dependence on crude oil. In 2016, the U.S., lifted the restrictions on USD 50 trillion production of energy reserves. Further, the government announced plans of employ over 90% of the U.S. offshore territory for oil and gas drilling and exploration, thereby escalating the vacuum pumps market size.
Latin America is at a nascent stage and will witness steady growth with presence of semiconductor & electronics industry is led by medium scale manufacturing plants in Mexico and Brazil. Shifting focus of the U.S. based vacuum pump end-user companies towards Latin America owing to lenient government policies and low-cost labor force will be a key driving factor for the regional growth over the forecast period.
The industry players are adopting multiple strategies to distinguish themselves and to gain a competitive edge over other participants. For instance, in 2018, Gardner Denever acquired of Runtech Systems in order to expand flow control technology, vacuum and pressure systems and services. Further, in August 2017, Pfeiffer Vacuum acquired Nor-Cal Products Inc., to strengthen its position in the vacuum technology industry.
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Partial chapters from report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Vacuum pumps industry 360° synopsis, 2015 - 2026
2.1.1. Business trends
2.1.2. Lubrication trends
2.1.3. Technology trends
2.1.4. Product by industry trends
2.1.5. Industry trends
2.1.6. Regional trends
Chapter 3. Vacuum Pump Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2015 - 2026
3.3. Industry ecosystem analysis
3.3.1. Profit margin analysis
3.3.2. Value addition
3.3.3. Distribution channel analysis
3.3.4. After sales service
3.3.5. Vendor matrix
3.3.5.1. List of key manufacturers/distributors
3.3.5.2. List of key/potential customers
3.3.5.3. List of service providers
3.4. Innovation & Sustainability
3.4.1. Patent analysis
3.4.2. Technology trends
3.4.3. Comparison of equipment
3.4.4. Future trends
3.5. Industry impact forces
3.5.1. Growth drivers
3.5.2. Industry pitfalls & challenges
3.6. Regulatory landscape
3.7. Growth potential analysis
3.8. Regional price trends
3.8.1. Cost structure analysis
3.8.1.1. R&D cost
3.8.1.2. Manufacturing & equipment cost
3.8.1.3. Raw material cost
3.8.1.4. Distribution cost
3.8.1.5. Operating cost
3.8.1.6. Miscellaneous cost
3.8.2. Price by lubrication
3.8.3. Price by technology
3.8.4. Price by product
3.8.5. Price by industry
3.9. Company market share analysis, 2018
3.9.1. Strategy dashboard
3.9.2. Key stakeholders
3.10. Porter's analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrant
3.10.4. Industry rivalry
3.10.5. Threat of substitutes
3.11. PESTEL analysis
Browse complete table of contents @ https://www.gminsights.com/toc/detail/vacuum-pump-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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