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I AgreeAnalysis of Europe Vacuum Pumps market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Vacuum pumps sales across Europe are estimated to reach a market valuation of US$ 4.23 billion by the end of 2032, up from US$ 2.3 billion in 2022, with the market growing at an impressive CAGR of 6.2% during the forecast years 2022-2032. The top 5 manufacturers in the Europe vacuum pumps market account for around 41% market share.
Report Attributes |
Details |
---|---|
Europe Vacuum Pumps Market Size (2021A) |
US$ 2.18 Billion |
Estimated Market Value (2022E) |
US$ 2.3 Billion |
Forecasted Market Value (2032F) |
US$ 4.23 Billion |
Europe Market Growth Rate (2022-2032) |
6.2% CAGR |
Germany Market Share (2021) |
~19.1% |
Germany Growth Rate (2022-2032) |
~6.6% CAGR |
Market Share of Top 5 Companies |
~41% |
Key Companies Profiled |
|
European market growth is mainly attributed to the diversified application of vacuum pumps in several end-use industries. Also, product innovation and development being undertaken by prominent manufacturers in the Europe vacuum pumps market will aid industry expansion.
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Vacuum pumps are devices that generate a vacuum in a sealed chamber by drawing out molecules. Vacuum pumps are finding increased application in several end-use industries such as food and beverages, healthcare, medical, etc.
Vacuum pumps also play a significant role in the production of semiconductor devices, and the market is benefitting from the ever-increasing manufacturing of smartphones and automotive and consumer electronics. The use of IoT-based devices is a currently ongoing trend that is anticipated to encourage the semiconductor industry over the coming years.
Vacuum pumps are also used in the pharmaceutical industry in several stages such as distillation, drying, degassing, crystallization, filling, sublimation, etc. Such diversified applications of vacuum pumps in various end-use industries are anticipated to support market growth and provide a gain of 67 BPS over the assessment period.
According to Fact.MR, a market research and competitive intelligence provider, the Europe vacuum pump market witnessed 4.3% CAGR from 2017 to 2021. Fact.MR projects the market to expand at 6.2% CAGR during the 2022-2032 assessment years.
Market share analysis of vacuum pump types and countries is provided in the image in a nutshell. Under vacuum pump type, positive displacement vacuum pumps dominated the market with 23.7% share in 2021.
“Diversified Application in End-use Industries Aiding Market Expansion”
Companies in Europe manufacturing vacuum pumps are offering tailored vacuum systems that are not only durable but are safe as well, taking into account hostile and explosive environments such as in the oil and gas industry.
Vacuum pumps are being used for the application of compression, biogas production, crude oil distillation, seawater de-aeration, etc. Vacuum pumps are also being deployed in minefields and during the mining of ores requiring degassing of emissions released during drilling and blasting operations. Vacuum pumps also find application in wastewater purification, desalination, backwashing and filtration and wastewater disposal.
With vacuum systems finding application in diversified industries, companies are adding products that can deliver superior efficiency, require minimum maintenance, are low cost, and provide a long service life.
“Shift towards Solar Power Generation with Advancing Semiconductor Industry to Provide Lucrative Opportunities”
Prominent vacuum pump suppliers in the European market are offering oil-based vacuum pumps and dry vacuum pumps for the semiconductor industry. They are being deployed in mounting circuit boards, fixing components, blowing and injection, extraction, and other uses as well.
Rising awareness about the use of renewable resources such as solar energy is paving the way for the extensive production of semiconductors. Vacuum pumps play a significant role in the manufacturing of semiconductors where suitable and favorable conditions for their processing can only be achieved under a vacuum.
Thus, the shift towards solar power generation in the advancing semiconductor industry is anticipated to propel vacuum pump sales growth in the European market.
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The Germany vacuum pump market and NORDICS vacuum pump market hold 19.1% and 19.2% share, respectively, of the overall vacuum pump market in Europe. These markets are projected to register CAGRs of 6.6% and 4% during the forecast years of 2022-2032.
High growth in these regions is attributed to factors such as augmented government spending on urbanization owing to rising concerns regarding pollution, wastewater management, etc., to create a sustainable environment.
Huge spending by these governments on infrastructural development is aiding the demand creation for vacuum pumps. Along with this, mounting demand from medical, pharmaceutical, and packaging industries is also driving market growth in these countries.
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The European vacuum pump market, under lubrication type, is segmented into dry vacuum pumps and wet vacuum pumps.
The wet lubrication segment leads with 75.7% share in the Europe vacuum pump market and the segment is projected to register 5.9% CAGR over the assessment period because of the various advantages offered by wet vacuum pumps.
These pumps offer reliable operation, easy processing and maintenance, and provide uniform results, owing to which, they are witnessing enhanced demand traction in several application areas.
Dry vacuum pumps hold 24.3% share in the overall market and are projected to rise at the rate of 5.4%. These pumps aid in keeping product purity intact, require less attention, and also minimize contamination in oil and other industries.
The European vacuum pump market, under pump type, is segmented into centrifugal pumps, positive displacement pumps, momentum transfer, dry vacuum pumps, and regenerative pumps.
Amongst them, positive displacement vacuum pumps lead the market with 23.7% share and are projected to see demand increase at 5.7% CAGR through 2032. These pumps can produce a consistent flow rate due to changes in pressure. Furthermore, the viscosity and flow rate of positive displacement pumps are positively correlated, as when one increases, the other increases as well, leading to high demand for positive displacement vacuum pumps.
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Prominent players in the Europe vacuum pump market are investing in research and developmental activities to introduce vacuum pumps that can meet the specific needs of end users and are efficient at the same time. Rising investments in strategic and research activities to differentiate one from the other are making the market competitive.
Fact.MR has provided detailed information about the price points of key manufacturers of vacuum pumps positioned across countries in Europe, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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The Europe vacuum pump market is currently valued at US$ 2.3 billion.
The European market for vacuum pumps is anticipated to reach US$ 4.23 billion by 2032.
Between 2017 and 2021, vacuum pump demand in Europe increased at 4.3% CAGR.
Prominent players in the vacuum pump market in Europe are Atlas Copco, Busch Vacuum Solutions, Edwards Vacuum, Leybold GmbH, and Gebr. Becker GmbH.
Germany leads the European vacuum pump market accounting for 19.1% share in 2022.
Positive displacement vacuum pumps account for around 23.7% market share.