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According to a new research report by Global Market Insights, the vacuum pumps market will hit $6.5bn by 2025.

Chemical manufacturing and processing industry growth is a major influencing factor for the vacuum pump systems sales. The global chemical market will reach close to $5.5 trillion in 2025, with a bulk share accounted by China-dominated Asia Pacific region.

Industrially emerging nations such as India, Indonesia, Thailand, etc. also offer a promising future to the chemical industry growth. Requirement of clean and dry reaction chambers for critical applications will boost the regional vacuum pump market demand throughout the forecast years.

Rebounding of the petrochemical sector after the fallout earlier this decade will also signify the vacuum pump system market in the coming few years. These products have versatile applications throughout the upstream, midstream, and downstream oil & gas industry. These applications include oil & gas recovery, field gas boosting, vacuum reactors, etc. With the increase in the crude oil prices, the U.S. oil & gas companies are responding fast by increasing the expenditure in drilling activities.

The quick recovery of the country’s shale oil producers after 2014 will also signify the developments in the industry, which will further propel the industrial vacuum pumps demand over the forecast period.

The vacuum pump market has been segmented, based on lubrication, into dry and wet types. Wet industrial vacuum pump include water as well as oil lubricated machines and are capable of providing higher pumping speeds than the dry types. This segment will witness growth with a CAGR of around 6% from 2018 to 2025.

Based on vacuum pump technology, the market is classified into gas capture/binding, and gas transfer types. Gas transfer products are further classified into kinetic and positive displacement types. Kinetic pumps segment will witness healthy growth, crossing USD 3 billion in 2025. Gas capture/binding products will generate more than USD 1 billion annually by the conclusion of the forecast span.