Global Laboratory Vacuum Pumps Market

Global Laboratory Vacuum Pumps Market Size, Share, Growth Analysis, By Type(Dry Vacuum pumps, Water based pumps), By Application(Chemical, Pharmaceutical) - Industry Forecast 2024-2031

Report ID: SQMIG35B2139 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 75

Global Laboratory Vacuum Pumps Market Dynamics

Laboratory Vacuum Pumps Market Drivers

Rising Research and Development Activities

  • The rising emphasis on R&D operations across several industries, including pharmaceuticals, chemicals, and biotechnology, is what is driving the global market for laboratory vacuum pumps. These industries rely significantly on laboratory vacuum pumps for a variety of tasks, including filtration, distillation, and solvent evaporation.

Demand from Emerging Economies

  • Market Growth is being aided by rising industrialization and laboratory expansion in developing nations. The demand for laboratory equipment, especially vacuum pumps, is rising as a result of increased R&D spending in nations like China and India.

Laboratory Vacuum Pumps Market Restraints

High Cost

  • Pumps used in laboratories may be pricey to buy and install. Advanced vacuum pump technologies may not be adopted by small and medium-sized laboratories due to the significant initial capital expenditure needed.

Environmental Hazards

  • Environmentally friendly dry vacuum pumps are becoming more popular as a result of environmental legislation and worries about the usage of oil-sealed vacuum pumps due to their oil emissions. Manufacturers of conventional vacuum pumps may face difficulties as a result of this change.
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Global Laboratory Vacuum Pumps Market size was valued at USD 1.49 Billion in 2022 and is poised to grow from USD 1.58 Billion in 2023 to USD 2.55 Billion by 2031, at a CAGR of 6.2% during the forecast period (2024-2031).

The global laboratory vacuum pumps market is marked by fierce competition among well-established players and the emergence of innovative entrants. Leading companies consistently allocate resources to research and development endeavors, aimed at broadening their product portfolios and maintaining a competitive edge. Notable industry leaders like Agilent Technologies Inc., Atlas Copco AB, and EBARA CORPORATION have solidified their positions as key market participants, offering a diverse array of laboratory vacuum pumps and associated accessories. These industry titans prioritize technological advancements, product diversification, and strategic partnerships to uphold their foothold in the market. 'Agilent Technologies Inc. (Santa Clara, California, USA)', 'Atlas Copco AB (Stockholm, Sweden)', 'EBARA CORPORATION (Tokyo, Japan)', 'ULVAC, Inc. (Chigasaki, Japan)', 'Edwards Vacuum LLC (Crawley, United Kingdom)', 'Pfeiffer Vacuum Technology AG (Asslar, Germany)', 'Welch Vacuum (Skokie, Illinois, USA)', 'KNF Neuberger Inc. (Trenton, New Jersey, USA)', 'VACUUBRAND GMBH + CO KG (Wertheim, Germany)', 'Leybold GmbH (Cologne, Germany)', 'Shimadzu Corporation (Kyoto, Japan)', 'Vooner FloGard Corporation (LaGrange, Georgia, USA)', 'Gardner Denver Holdings, Inc. (Milwaukee, Wisconsin, USA)', 'Busch Vacuum Solutions (Virginia Beach, Virginia, USA)', 'Gast Manufacturing, Inc. (Benton Harbor, Michigan, USA)', 'Becker Vacuum Pumps (Wuppertal, Germany)', 'Osaka Vacuum, Ltd. (Osaka, Japan)', 'Ebara Technologies, Inc. (Sacramento, California, USA)', 'Alcatel Vacuum Technology France (Annecy, France)', 'Tuthill Vacuum & Blower Systems (Springfield, Missouri, USA)'

The rising emphasis on R&D operations across several industries, including pharmaceuticals, chemicals, and biotechnology, is what is driving the global market for laboratory vacuum pumps. These industries rely significantly on laboratory vacuum pumps for a variety of tasks, including filtration, distillation, and solvent evaporation.

Solutions with a Focus on Customization: The particular requirements of many industries and applications are being met by manufacturers through the provision of specialized and specialized vacuum pump solutions. The desire for specialized solutions that improve laboratory procedures is reflected in this development.

Notably, North America has emerged as the frontrunner in this market, boasting the largest market share and exhibiting a promising CAGR of 5.82% during the forecast period.

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