According to the research report titled ‘Vacuum Pumps Market Size By Lubrication (Dry, Wet), By Technology (Gas Capture/Binding Pumps, Gas Transfer Pumps [Positive Displacement Pumps, Kinetic Pumps]), By Product (Low Vacuum, Medium Vacuum, High Vacuum), By Industry, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report, global vacuum pumps market is projected to reach a valuation of USD 7 billion by the end of the forecast period 2019-2026.
 

Rapid growth in semiconductor and electronics manufacturing is augmenting global vacuum pumps market demand. Increasing oil & gas exploration and production activities in view of escalating demand for crude oil in transportation and industrial sector is further propelling the industry growth. Research in nanotechnology and nuclear fusion, and rising penetration of e-commerce are the other factors anticipated to enhance market development in the upcoming years.
 

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In terms of lubrication, dry segment is expected to witness an increased demand over the analysis period. This can be largely ascribed to extensive product application in semiconductor and chip production to fulfill surging demand for electronic devices and gadgets among the younger population.
 

Moving to technology segmentation of global vacuum pumps industry, kinetic gas transfer pumps are anticipated to capture considerable market share in the forthcoming years. The product demand is fueled by application in generating high to ultra-high vacuum environments. These pumps displace gas molecules by accelerating them in pumping direction through vapor stream or mechanical systems.
 

Considering product type, high vacuum segment holds strong growth potential as these pumps find use in critical applications like mass spectroscopy, electron microscope, evaporation coating, and space technology.
 

Speaking of industry, oil & gas segment is slated to grow considerably in the upcoming years chiefly on the back of favorable government initiatives encouraging offshore exploration and production activities.
 

From a geographical perspective, Latin America vacuum pumps market is anticipated to record substantial growth through 2026. Steady growth of semiconductor and electronics industry along with shifting focus of U.S.-based players towards Latin America on account of lenient government policies and availability of low-cost labor are fostering the segmental expansion.
 

Major players in the industry are Metallurgical High Vacuum Corp., Anchor Pump, Westmoor Ltd., Travaini Pumps USA Inc., The Busch Group, PPI Pumps Pvt. Ltd., Dekker Vacuum Technologies Inc., Gebr. Becker GmbH, Gast Manufacturing Inc., KNF Neuberger GmbH, Kashiyama Industries Ltd., and Shimadzu Corp. among others.