February 21, 2024
Vacuum Pump Market

The Vacuum Pump Market is Expected to be Driven by Rising Adoption in the Semiconductor Industry

The Vacuum pump is a device that removes gas molecules from a sealed volume in order to leave behind a partial vacuum. They are essential pieces of equipment for various industries including semiconductor, coating, packaging, chemical processing, and metals processing. They are used for processes that require an evacuated environment inside a vacuum chamber like vapor deposition, evaporation of surfaces, sputtering, and material modification in vacuum annealing. The global vacuum pump market is dominated by dry vacuum pumps like turbomolecular pumps, cryogenic vacuum pumps, positive displacement pumps, and entrapment pumps. Roughing pumps are also commonly used as they act as a primary vacuum pump to attain a high vacuum.

The global Vacuum Pump Market is estimated to be valued at US$ 7.5 Mn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The “Vacuum Pump Market is Expected to be Driven by Rising Adoption in the Semiconductor Industry” as highlighted in the heading. The growing demand for semiconductors from the consumer electronics and automotive industries is driving significant investments in fab capacity expansions worldwide. This is fueling the demand for vacuum pumps in various semiconductor vacuum processing applications such as physical vapor deposition, ion implantation, reactive ion etching, and vacuum furnaces. Vacuum pumps are indispensable parts of the semiconductor fabrication process and any fluctuation in their demand is directly linked to the semiconductor industry’s growth. Additionally, rising focus on miniaturization of electronic components is pushing semiconductor manufacturers to manufacture at the 7 nm node and below which requires more precise and cleaner environments that augment vacuum pump usage. These factors are expected to propel the growth of vacuum pumps market over the forecast period.

Segment Analysis
The global vacuum pump market is segmented into portable and stationary vacuum pumps. Among them, the stationary vacuum pump segment dominates the market with over 60% share. Stationary vacuum pumps are installed at a fixed location for continuous and bulk material handling applications in various industries like oil & gas, chemical, semiconductor, etc. They offer higher flow rates and efficiencies compared to portable vacuum pumps.

PEST Analysis
Political: Regulations regarding workplace safety and emission control have increased the demand for high-quality vacuum pumps.

Economic: Growth in the end-use industries like healthcare, semiconductor, oil & gas is positively impacting the vacuum pump market. Recovery of global economy post-pandemic is further supporting market growth.

Social: Increasing consumer spending on healthcare and rising environmental awareness are influencing vacuum pump adoption across industries.

Technological: Developments in materials and designs are resulting in compact, energy-efficient and durable vacuum pump models. Many players are integrating new innovations like IoT connectivity.

Key Takeaways
Global Vacuum Pump Market Size is expected to witness high growth over the forecast period. Asia Pacific dominates the market currently.

Regional analysis: The Asia Pacific accounts for over 35% share of the global vacuum pump market led by China. Presence of a large number of semiconductor and electronics manufacturing units along with rapid growth of healthcare and pharmaceutical industries in the region are fueling vacuum pump demand.

Key players operating in the vacuum pump market are 3M Company, Johnson & Johnson, Procter & Gamble, Reckitt Benckiser Group plc, and Ecolab Inc. These companies have a widespread distribution network and offer multiple vacuum pump series to cater to the bulk requirements of industries.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it