The MEA Vacuum Pumps Market, By Application Range (Low Vacuum Pressure, Medium Vacuum Pressure and High and Ultra-high Vacuum Pressure), By Type (Entrapment Pumps (Adsorption Pump, Getter Pump, Cyropump, and Condenser Pump), Gas Transfer Pumps, (Positive Displacement Pumps and Kinetic Vacuum Pumps)), By End-use Application (Oil & Gas, Industrial and Manufacturing, Power, Chemical Processing, Semiconductor and Electronics and Others (Pharmaceutical, Aviation))- MEA Forecast to 2030”, is expected to be valued at US$ 1,050.71 Million by 2030, exhibiting a CAGR of 11.1% during the forecast period (2022-2030), as highlighted in a report published by Coherent Market Insights.
A vacuum pump is a device that removes gas molecules from a sealed volume so as to leave behind a partial vacuum. The different pressure range includes the rough vacuum, process vacuum, industrial vacuum, semiconductor process vacuum, thin-film deposition (non-Semiconductor), instrumentation manufacturer’s pressure range, and vacuum pressure for R&D activities. Furthermore, vacuum pumps are majorly used in various sectors such as oil and gas, industrial and manufacturing, power, chemical processing, semiconductor, and electronics.
The MEA Vacuum Pumps Market was valued for US$ 404.9 Mn in 2021 is expected to exhibit a CAGR of 11.4 % during the forecast period (2022 to 2030).
Key Developments
- Major market players are focused on mergers and acquisitions, in order to enhance market presence. For instance, in February 2020, Atlas Copco AB acquired Dekker Vacuum Technologies, Inc., a supplier of vacuum equipment.
- Key players are involved in product launches, in order to gain a competitive edge in the market. For instance, in January 2020, Atlas Copco AB launched DZS 100-400 VSD+ series of air-cooled, oil-free claw vacuum pumps for hazardous applications.
MEA Vacuum Pumps Market - Impact of Coronavirus (Covid-19) Pandemic:
Many countries such as UAE, Jordan, and Iran have imposed lockdowns owing to the COVID-19 pandemic. Due to the Lockdown, there was a shortage of workers at the vacuum pump manufacturing facilities. Furthermore, with less manpower, the manufacturing facilities started struggling to move the products. In addition to this, due to the shortage of transportation facilities such as Trains and Heavy-duty Vehicles, manufacturers were unable to ship their cargo. Owing to the above-mentioned factors, during the pandemic MEA Vacuum Pumps Market has shown slow growth.
But, According to coherent market research analysis, this situation will come under control in upcoming years.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/mea-vacuum-pumps-market-4111
Browse 150 market data tables* and 90 figures* on “MEA Vacuum Pumps Market- Global Forecast to 2030”
Key Trends and Analysis of the MEA Vacuum Pumps Market:
- Europe union is expected to import 20% of its electricity demand from MEA region by the method of transcontinental energy and power linking grids across the EU-MEA by end of 2020. Significant portion of the energy is expected to be generated from solar farms. According to the European commission's Institute for Energy, it would require the capture of just 0.3% of the light falling on the Sahara and Middle Eastern deserts to meet all of Europe's energy needs. Germany based Desertec Industrial Initiative has pledged to provide 15% of Europe’s electricity latest by 2050 by means of power transmission lines stretching across the desert and the Mediterranean. The estimated investment of the initiative is US$ 400 Bn and is supported by major German companies namely; Siemens AG, E.ON SE, and Deutsche Bank AG. In the last two decades, investment worth US$ 2 Bn was made in various Arab Interconnection Projects.
- With 58% dependency on food imports, the MEA region is one of the most vulnerable regions in the world with regard to food security. Algeria, Libya, Egypt, Morocco, and Tunisia are already facing food security challenges. Countries in the MEA region make expenditure as high as 0.15% to 0.62% of their GDP on food subsidies. To avert situations like future food crises, MEA is investing in food production in countries where food is imported in order to secure its food supplies. Currently, Saudi Arabia encourages Saudi investors to invest abroad in agriculture by providing funds, credit, and logistics solutions. This strategy is expected to be a key trend adopted by all oil-exporting countries in the MEA region.
- Major companies operating in the MEA vacuum pumps market are Gardner Denver, Inc., Sterling SIHI GmbH, Pfeiffer Vacuum GmbH, Ebara Corporation, ULVAC, Inc., Dekker Vacuum Technologies, Inc., Oerlikon Leybold Vacuum GmbH, Graham Corporation, Atlas Copco AB, and Tuthill Corporation.
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