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(EstateNewsWire.com, June 04, 2018 ) Vacuum Pump Market-Analysis of Growth, Trends and Forecasts (2018-2023) Report provides an Extensive Research on the fast-evolving Vacuum Pump Market. It also gives Competitive Landscape of the Leading Companies with Regional and Global Analysis of the Market till 2023.
The global vacuum pump market was valued at USD 2.16 billion in 2017, and is expected to reach a value of USD 3.06 billion by 2023, recording a CAGR of 5.9% over the forecast period (2018 - 2023).
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Vacuum pumps are witnessing substantial demand from various end-user verticals, as the operations involved in these verticals are extremely susceptible to corrosion, due to constant exposure to several harsh environments, emphasizing the need for vacuum pumps to comply with various industry regulations.
The major players include:
Gardner Denver Inc., Atlas Copco Group, Sihi Group Bv, Busch Pumps And Systems, Pfeiffer Vacuum Gmbh, Ulvac Technologies, Busch Pumps And Systems, Pfeiffer Vacuum Gmbh, Graham Corporation, Tuthill Corporation, Becker Pumps Corporation, Ebara Corporation, Dekker Vacuum Technologies Inc., Tsurumi Manufacturing Co. Ltd
There has been a considerable rise in the number of small-scale vacuum pumps manufacturing players setting up shops in the developing regions during the recent past, as they combine with OEMs across the borders to manufacture low-cost pumps for use in the end-user industries.
The demand for retrofitting is much higher than new installations, as the vacuum pumps have now become an integral part of the manufacturing equipment across a majority of end-user verticals.
Increasing Focus on Set-up and Cost Minimization with Dry Vacuum Pumps
Regarding maintenance, dry pumps typically need a check-up after every 4 to 5 years, due to the absence of touching parts, thus, increasing the product life. Latest generation dry pumps that utilize energy-efficient motors integrated into the pump offer a better energy footprint in normal operation, as compared to oil-sealed pumps, thus, increasing their efficiency. Additionally, a stand-by mode in dry vacuum pumps offers additional energy savings and an extension of bearing life/service intervals.
Oil & Gas Industry held the Largest Share of the Market in 2017
Vacuum pumps find various applications in the oil & gas industry, in all areas of exploration, extraction, refinement, and distribution. The global oil & gas industry remains unpredictable, with instabilities in the crude oil prices. This instability has been directly impacting the demand for pumps from the industry, thus, challenging its growth. Also, the depressed upstream investments in the current scenario of low crude oil prices are also affecting the growth of vacuum pumps in this industry.
Middle-East & Africa expected to Witness the Fastest Growth during the Forecast Period
Middle East has been leveraging the benefits of increase in the global oil demand. However, a series of factors are currently showing an adverse impact on the economy in this region. Consequently, countries, such as Saudi Arabia and Iraq, are cutting down oil production, in compliance with the recent oil deal, which has been dramatically impacting the growth among oil-exporting countries, and which, may slow down the market for vacuum pumps. While the landmark agreement boosted oil prices by the end of 2016, other key producers are increasing shale oil production. Iran is expected to emerge as a major player, as the country is leveraging its return to the international markets.
On the other end, Saudi Arabia is expected to perform poorly, as it is responsible for the major share of the oil reduction under the OPEC agreement.
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Reasons to Purchase this Report:
The report provides key information on the factors driving and challenging the growth of the vacuum pump market.
The report provides a well-rounded perspective of the various technologies and different types of vacuum pumps models, such as dry compressing and liquid sealed pumps.
Provides various insights about the applications and trends of vacuum pumps in various industry verticals, such as semiconductors, oil & gas, and food & beverage.
Provides detailed analysis on geographical trends, with market forecast projected up to 2023.
Information about the top 12 vendors, along with business strategies and analyst view.
3 months of analyst support, along with the Market Estimate sheet (in Excel).
Key Developments in the Market
September 2017 - Atlas Copco, acquired the operating assets of C.H. Spencer & Company Co., a US distributor and service provider of industrial compressors, pumps, and related products.
February 2017 - Gardner Denver provided clean and efficient solutions for Popular German Brewer. The Früh brewery is known for its Kölsch beer that is sold worldwide. The compressed air specialists at Hermann Mönnichs GmbH recommended a regulated-speed CompAir, PureAir machine to work with the brewery's piston compressor from the Champion series to achieve the high-hygiene standards required by the brewery.
Table of Content:
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Global Vaccum Pump Market-Segmentation
6. Competitive Intelligence – Company Profiles
7. Investment Analysis
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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