Harnessing the Potential of Vacuum Pumps
Meticulous Research ® —a leading global market research company, published a research report titled, ‘ Vacuum Pumps Market by Type (Gas Transfer Pumps, Gas Bindings/Entrapment Pumps), Lubrication (Dry Vacuum Pumps, Wet Vacuum Pumps), Pressure, End-use Industry and Geography - Global Forecasts to 2030 .’ The vacuum pumps market is projected to reach $7.57 billion by 2030 from an estimated $5.51 billion in 2023, at a CAGR of 4.6% during the forecast period of 2023 to 2030. The growth of the vacuum pumps market is driven by the rising adoption of vacuum pumps in the mining industry, the growing significance of vacuum pumps in the chemicals industry, and the growth in the automotive sector. However, the high-power consumption of vacuum pumps restrains the growth of this market. The rising adoption of vacuum pumps for seawater desalination and the growing importance of vacuum pumps in the photovoltaics value chain are expected to create growth opportunities for the...