Vacuum Pump Market

The global market for vacuum pumps is poised for growth, with consumption expected to rise with a CAGR of +2.0% reaching 227M units by 2030. In terms of value, the market is forecasted to increase with a CAGR of +3.7% reaching $52.3B by 2030. China leads in both consumption and production of vacuum pumps, with the United States and Brazil also playing significant roles. The article also covers trends in imports and exports of vacuum pumps, with notable growth rates in certain countries such as Singapore and South Korea.

Market Forecast

Driven by increasing demand for vacuum pumps worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 227M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $52.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Vacuum Pumps

In 2022, consumption of vacuum pumps increased by 3.6% to 194M units for the first time since 2019, thus ending a two-year declining trend. Overall, consumption recorded a relatively flat trend pattern. Global consumption peaked at 228M units in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global vacuum pump market value stood at $39B in 2022, surging by 8.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $48.4B. From 2020 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

China (52M units) remains the largest vacuum pump consuming country worldwide, accounting for 27% of total volume. Moreover, vacuum pump consumption in China exceeded the figures recorded by the second-largest consumer, the United States (23M units), twofold. Brazil (19M units) ranked third in terms of total consumption with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +3.7%. In the other countries, the average annual rates were as follows: the United States (+1.0% per year) and Brazil (-4.4% per year).

In value terms, the United States ($9.2B) led the market, alone. The second position in the ranking was held by India ($2.9B). It was followed by South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States was relatively modest. The remaining consuming countries recorded the following average annual rates of market growth: India (+11.1% per year) and South Korea (+1.9% per year).

The countries with the highest levels of vacuum pump per capita consumption in 2022 were the UK (113 units per 1000 persons), Canada (98 units per 1000 persons) and Brazil (88 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by India (with a CAGR of +14.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Vacuum Pumps

In 2022, production of vacuum pumps was finally on the rise to reach 184M units for the first time since 2019, thus ending a two-year declining trend. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 12%. Over the period under review, global production hit record highs at 221M units in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, vacuum pump production totaled $31.8B in 2022 estimated in export price. Over the period under review, production, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15% against the previous year. Global production peaked at $43.6B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of vacuum pump production was China (59M units), accounting for 32% of total volume. Moreover, vacuum pump production in China exceeded the figures recorded by the second-largest producer, Brazil (17M units), threefold. The third position in this ranking was held by the United States (14M units), with a 7.6% share.

In China, vacuum pump production expanded at an average annual rate of +4.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (-5.2% per year) and the United States (-0.1% per year).

Imports

World Imports of Vacuum Pumps

Global vacuum pump imports rose slightly to 53M units in 2022, growing by 3.2% on 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.3% against 2017 indices. The growth pace was the most rapid in 2021 when imports increased by 23% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, vacuum pump imports stood at $5.7B in 2022. The total import value increased at an average annual rate of +4.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 20% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports By Country

The United States (10M units) and Germany (7.8M units) were the largest importers of vacuum pumps in 2022, recording near 19% and 15% of total imports, respectively. It was distantly followed by China (2.4M units), creating a 4.6% share of total imports. Belgium (2.4M units), the UK (2.2M units), Hungary (2M units), Spain (2M units), France (1.9M units), Brazil (1.7M units), Mexico (1.5M units), South Korea (1.5M units), Poland (1.5M units) and Singapore (1.4M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +30.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.1B), the United States ($819M) and Germany ($379M) appeared to be the countries with the highest levels of imports in 2022, with a combined 40% share of global imports. South Korea, Singapore, the UK, France, Belgium, Mexico, Spain, Brazil, Poland and Hungary lagged somewhat behind, together comprising a further 23%.

Among the main importing countries, Belgium, with a CAGR of +13.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average vacuum pump import price amounted to $107 per unit, growing by 3.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 12%. Global import price peaked at $120 per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($451 per unit), while Hungary ($15 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Vacuum Pumps

In 2022, shipments abroad of vacuum pumps increased by 0.1% to 43M units, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when exports increased by 18%. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, vacuum pump exports reached $5.6B in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 21% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

The shipments of the three major exporters of vacuum pumps, namely China, Germany and Italy, represented more than half of total export. Japan (2.8M units) took the next position in the ranking, followed by France (2.6M units) and Mexico (2.2M units). All these countries together took approx. 18% share of total exports. Singapore (1.4M units), Hungary (1.4M units), the United States (1.1M units), South Korea (1.1M units), the Czech Republic (0.9M units), Turkey (0.9M units) and the Netherlands (0.9M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +23.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest vacuum pump supplying countries worldwide were Germany ($1.1B), Japan ($852M) and South Korea ($535M), together comprising 45% of global exports. China, the United States, Italy, France, the Czech Republic, the Netherlands, Mexico, Singapore, Turkey and Hungary lagged somewhat behind, together comprising a further 37%.

Among the main exporting countries, Turkey, with a CAGR of +17.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average vacuum pump export price stood at $131 per unit in 2022, picking up by 5.5% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($489 per unit), while Hungary ($16 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform