Vacuum Pumps Market - 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), Industry & Forecast, 2023-2032

Vacuum Pumps Market - 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), Industry & Forecast, 2023-2032

Global Vacuum Pumps Market size will expand at over 7.4% CAGR between 2023 and 2032, driven by the appreciable growth of the pharmaceutical industry across North America and Europe. According to the European Federation of Pharmaceutical Industries and Associations, in 2021, global pharmaceutical sales were dominated by North America, comprising 49.1% of the total, while Europe accounted for a comparatively lower share of 23.4%.

With their robust pharmaceutical industries, these regions require sophisticated vacuum pump systems for various critical applications, including pharmaceutical manufacturing and research. As these sectors continue to expand and innovate, the demand for high-performance vacuum pumps is expected to rise, driving market growth and technological progress in the field.

The overall vacuum pumps market is categorized based on lubrication, technology, product, industry, and region.

Medium vacuum pumps industry could register significant growth over 2023-2032 due to their versatility and efficiency across various industries. These pumps strike a balance between high and low vacuum applications, making them suitable for a wide range of processes such as electronics manufacturing, research, and chemical processing. Their ability to handle diverse tasks while offering energy efficiency and reliability has contributed to their increased adoption, meeting the evolving demands of modern industrial applications.

Regarding industry, the vacuum pumps market share from the oil and gas segment could expand notably through 2032 due to their crucial role in enhancing production and safety. They assist in removing unwanted gases, vapors, and contaminants from oil and gas processing systems, ensuring the quality and purity of extracted resources. Besides, these pumps aid in minimizing emissions, optimizing refining processes, and maintaining the integrity of equipment. As the industry seeks greater efficiency and environmental compliance, the utilization of vacuum pumps is on the rise in this sector.

Europe vacuum pumps industry outlook will strengthen over 2023-2032. Europe's robust manufacturing, automotive, and pharmaceutical sectors rely on vacuum pump technology for various critical applications, such as materials handling and production processes. Additionally, the growing emphasis on sustainability and energy efficiency has spurred demand for more advanced vacuum pump systems, further driving the industry's expansion in the region. These factors collectively contribute to the high growth witnessed by the vacuum pumps industry in Europe.