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SAN FRANCISCO , March 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Compressors and Vacuum Pumps - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE What's New for 2022?
Edition: 21; Released: February 2022 Executive Pool: 37179 Companies: 509 - Players covered include Aerzener Maschinenfabrik GmbH; Ariel Corporation; Atlas Copco AB; Baker Hughes Company; Bauer Compressors Inc.; Becker Pumps Corporation; Burckhardt Compression AG; Busch LLC; Dekker Vacuum Technologies, Inc.; Ebara Corporation; Flowserve Corporation; Graham Corporation; Ingersoll Rand , Inc.; Pfeiffer Vacuum GmbH; Siemens AG; Sulzer Ltd.; Tsurumi Manufacturing Co., Ltd.; Tuthill Corporation; ULVAC Technologies, Inc. and Others. Coverage: All major geographies and key segments Segments: Product Segment (Positive Displacement Compressors, Dynamic Compressors, Rotary Vacuum Pumps, Liquid Ring Vacuum Pumps, Diaphragm Vacuum Pumps, Other Product Segments) Geographies: World; USA ; Canada ; Japan ; China ; Europe ; France ; Germany ; Italy ; UK; Spain ; Russia ; Rest of Europe ; Asia-Pacific ; Australia ; India ; South Korea ; Rest of Asia-Pacific ; Latin America ; Argentina ; Brazil ; Mexico ; Rest of Latin America ; Middle East ; Iran ; Israel ; Saudi Arabia ; UAE; Rest of Middle East ; Africa .
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Global Compressors and Vacuum Pumps Market to Reach $43.6 Billion by 2026 Compressed air is a vital utility in manufacturing, process, assembly, mining industries as important as electricity, gas, chilled water, air handling, heating and cooling. It is generated onsite in close proximity to the location of consumption through electrically powered compressors and related equipment. Compressed air powers a staggering array of industrial tasks given its safety over either electricity or gas. The importance of compressed air can be put into perspective by the fact that it has direct impact on process throughput, manufacturing productivity, efficiency, product quality, and process waste control. Compressors are therefore the most ubiquitous electromechanical workhorse equipment used widely in homes, commercial establishments, and industries such as heavy machinery, general manufacturing, engineering, water pumping, process industries, mining energy generation, oil and gas exploration and distribution, power plants, petrochemicals, automobile service centers, textiles and chemical industry, among others.
Amid the COVID-19 crisis, the global market for Compressors and Vacuum Pumps estimated at US$35.4 Billion in the year 2022, is projected to reach a revised size of US$43.6 Billion by 2026, growing at a CAGR of 4.6% over the analysis period. Positive Displacement Compressors, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$25 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Dynamic Compressors segment is readjusted to a revised 4.4% CAGR for the next 7-year period. In post COVID-19 period, the compressors and vacuum pumps market is likely to witness moderate business opportunities despite persisting macroeconomic challenges. Some of the opportunities that potentially encourage a moderately higher recovery include diminished apprehensions over China's near-term growth and upward growth revisions supported by fiscal stimulus policies; and anticipated gradual normalization of economic conditions in most developing and emerging markets worldwide. Marginally recovering commodity and oil prices brightens the outlook for commodity and oil-exporting emerging markets in post COVID-19 period. Compressor innovations of utmost commercial value will be the development of innovative miniaturized compressors with high pressure-to-mass ratio, vibration resistant compressors, micro compressors for aerospace and medical applications, compressors with noiseless operation even at high pressure, oil-free compressors for hospitals, dental clinics, food or electronic production plants, and innovations in water injected rotary screw air compressors that use water as a lubricant. Also poised to benefit the market is breakthroughs in the design of smart compressors.
The U.S. Market is Estimated at $8.9 Billion in 2022, While China is Forecast to Reach $9.7 Billion by 2026 The Compressors and Vacuum Pumps market in the U.S. is estimated at US$8.9 Billion in the year 2022. China , the world`s second largest economy, is forecast to reach a projected market size of US$9.7 Billion by the year 2026 trailing a CAGR of 5.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada , each forecast to grow at 3.5% and 3.8% respectively over the analysis period. Within Europe , Germany is forecast to grow at approximately 4.3% CAGR.
Rotary Vacuum Pumps Segment to Reach $6.1 Billion By 2026 A rotary piston vacuum pump provides high volumetric efficiency over a wide range of pressures. Key application areas of rotary vacuum pumps include petrochemical, chemical, pharmaceutical and manufacturing industries, and other application areas include semiconductor, communications, electronics, food, scientific instruments and vacuum furnace industries. In the global Rotary Vacuum Pumps segment, USA , Canada , Japan , China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.8 Billion will reach a projected size of US$5.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia , India , and South Korea , the market in Asia-Pacific is forecast to reach US$686.5 Million by the year 2026, while Latin America will expand at a 4.8% CAGR through the analysis period. More
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