Market Trends of Vacuum Pump Industry
Rotary Vacuum Pump Expected to Hold Significant Market Share
- The rotary vacuum pump is one of these types of pumps that is useful in various situations and used by professionals in multiple fields. These pumps, which use a positive displacement system, are most frequently used in the commercial, industrial, automotive, and Commercial industries. It can be used in laboratory and industrial settings as well. The fluids that are pumped most frequently in these situations are gas, oil, and water.
- The automotive sector is the one that employs rotary vane pumps the most. This kind of pump is used in the car's braking system, power steering system, automatic transmission, and supercharging system, among other places. Rotary vacuum pumps are used in the systems of different vehicle types, such as airplanes. Some air conditioners, espresso, and soft drink dispensers are other applications for this kind of pump.
- Moreover, the automotive industry is where rotary vane vacuum pumps are most frequently used, where they are essential parts of many different vehicle parts. For example, hydraulic fluid in power steering systems is pressurized using rotary vane pumps. Additionally, they are employed as fixed and variable output units in automatic transmissions. The demand for Rotary vane pumps is anticipated to increase significantly with the growth of the automotive industry. For instance, according to SIAM, domestic dispatches in India increased by 21% to 17,06,831 units in 2022–23 from 14,14,277 units in the preceding fiscal year.
- Rotating vacuum pumps can run dry with clean air or pump oil, gas, and other liquids in addition to the vacuum. The oil and gas industry is a sector that significantly boosts demand for Rotary vacuum pumps. Additionally, the market may benefit from a lucrative expansion opportunity due to growing research and development into the integration of vacuum pumps into the oil and gas industry.
- Middle-East and Africa, the region with the highest oil production, is anticipated to present vacuum pump suppliers with significant growth opportunities. For instance, Saudi Arabia produced 10,954 barrels of crude oil per day in 2021, according to British Petroleum (BP). These trends will help the market under study grow in the upcoming years.
- Air and gases can also be pumped out of a sealed or constrained space using rotary vacuum pumps. Food and beverage, processing, chemical and pharmaceutical, automotive, oil and gas, and a wide range of other industries all use them. Additionally, the market may benefit from a lucrative expansion opportunity due to growing research and development into the integration of vacuum pumps into these industries.
- For instance, Pfeiffer Vacuum released the first mass spectrometry-specific rotary vane pump with a hermetically sealed pump housing in November 2022. The SmartVane is a backup pump for mass spectrometers (ICP-MS, LC/MS) used in environmental, food, pharmaceutical, and clinical analytics. The vacuum pump is made to make sure there are no oil leaks, which prevents contamination. It is quieter than other pumps used for this type of application because its typical operating pressure is less than 10 hPA.
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North America to Hold Significant Market Share
- North America is expected to hold the largest market share of the Vacuum Pump Market over the forecast period, led by the United States, owing to high unmet needs, growing water scarcity, and increased demand for clean drinking water. Additionally, over the forecasted period, significant research and developments in pharmaceutical, healthcare, industrial manufacturing, and many other industries will help to meet the rising demand.
- The rising investments in end-user industries like oil and gas, chemical, and power generation significantly impact the vacuum pump market in the North American region. Oil sands are a plentiful source of oil for the region's nations, including the US and Canada. For instance, 97% of Canada's proven oil reserves are found in the oil sands, according to Natural Resource Canada.
- The processing of beverages is yet another industry that gains from using vacuum pumps. The beverage processing industry in the region is expected to offer the market plenty of opportunities due to recent technological developments and rising investment levels. For instance, Nestlé announced in January 2023 that it would expand a Wisconsin factory by USD 43 million in an effort to increase production of its Boost and Carnation Breakfast Essentials ready-to-drink (RTD) products. Such investments will increase the demand for vacuum pumps in the industry.
- Additionally, the US has been one of the leaders in developing new renewable energy technologies and has pioneered several solar energy projects. In the United States, energy production is still rising quickly. For instance, ExxonMobil, one of the major oil producers in the nation, recently announced plans to increase production activity in the West Texas Permian Basin by producing roughly 1 million BPD of oil equivalent by 2024. Such factors will accelerate market expansion by giving manufacturers more opportunities to meet demand.
- Vacuum pumps are most frequently used in the automotive sector, where they are essential in a range of automobile parts. According to Statistics Canada, the total number of road motor vehicles registered in Canada increased to 26.2 million in 2021, up 1.9% from 2020. Nine out of every ten motor vehicles registered in 2021 were light-duty, totaling 24.1 million. The need for vacuum pumps is anticipated to increase significantly due to investments in the region's automobile industry and expansion facilities.
- Due to their widespread use in mining plants, vacuum pumps may see an increase in investment by mining companies as coal sales in the North American region increase. The Energy Information Administration estimates that the United States consumed 133.7 MMst of coal in the first quarter of 2022. The 114.1 MMst reported in the fourth quarter of 2021 was 17.2% lower than this. Such developments could result in installing numerous conventional and cutting-edge vacuum pumps by coal plants, increasing the demand for vacuum pumps in this area.
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