Global Vacuum Pump Market To Show Robust Growth Accelerated By Rising Demand From Semiconductor Industry

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Global Vacuum Pump Market To Show Robust Growth Accelerated By Rising Demand From Semiconductor Industry
The global Vacuum Pump Market is estimated to be valued at US$ 6.51 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Vacuum pumps are mechanical devices used to create or maintain vacuum for several industrial processes. Vacuum pumps help draw out undesirable gases from sealed containers, vacuum systems, and apparatus in numerous industries such as semiconductor & electronics, packaging, industrial manufacturing, coating, and others. Vacuum pumps help facilitate processes such as evaporation, sputtering, chemical vapor deposition (CVD), and etching during semiconductor chip manufacturing. 

Market Key Trends:

The semiconductor industry has been witnessing strong growth over the past few years on account rising demand for consumer electronics as well as increasing adoption of IoT devices and industrial automation worldwide. According to Semiconductor Industry Association, the global semiconductor industry sales grew 26.2% to reach US$ 555 billion in 2021. Vacuum pumps play a crucial role in various semiconductor manufacturing processes such as evaporation, sputtering, and CVD. Thus, robust expansion of the semiconductor industry has fueled the demand for high-performing vacuum pumps from major players. The trend is expected to continue and drive the overall growth of the vacuum pump market during the forecast period.

Segment Analysis:

The global vacuum pump market is segmented by technology into entrapment pumps, gas transfer vacuum pumps, and gas displacement pumps. Gas transfer vacuum pumps dominate the market and accounts for over 35% share. They offer high efficiency and can transfer gases from one place to another with high precision. These pumps are suitable for applications requiring continuous high or ultra-high vacuum like electronics & semiconductors manufacturing.

Key Takeaways:

The Global Vacuum Pump Market Size is expected to witness high growth over the forecast period of 2023 to 2030.

Regional Analysis:

The Asia Pacific region currently dominates the market and is expected to witness the fastest growth over the next few years. This is attributed to increasing electronics and semiconductor manufacturing industries in countries like China, Japan, South Korea and others. North America and Europe are also significant markets driven by well-established industries.

Key players analysis:

Key players operating in the vacuum pump market are Tsurumi Manufacturing Co. Ltd., Ingersoll Rand Inc., Wintek Corporation, Atlas Copco AB, Ebara Corporation, Flowserve Corporation, Becker Pumps Corporation, Busch Vacuum Solutions (Busch group), Global Vac, Pfeiffer Vacuum GmbH (Pfeiffer Vacuum Technology AG), Graham Corporation, and ULVAC Inc.

Explorer more information on this topic, Please visit -

https://www.insightprobing.com/vacuum-pump-market-growth-and-forecasts-analysis-2/ 

Explore more trending article on this topic - 

 

https://diveintoinsights123.weebly.com/blog1/fastest-growing-segment-fueling-the-growth-of-global-vacuum-pump-market 

 

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