About this market
With the increased application of vacuum pump systems in laboratories and semiconductor processing, there is a growing demand for laboratory vacuum pumps. The use of laboratory vacuum pumps is increasing to optimize performance across the range of applications, from mass spectroscopy to filtering, drying, degassing, distillation, gel dryers, and evaporation. Vacuum pumps are known to be effective tools in a laboratory, which helps in decreasing the filtration times through high-power vacuum suction. Laboratory vacuum pumps are used to provide rapid chamber evacuation, chamber environment exchange, and high throughput capability. With the rising applications in the semiconductor industry, the adoption of laboratory vacuum pumps will increase during the forecast period. Technavio's analysts have predicted that the laboratory vacuum pumps market will register a CAGR of over 4% by 2023.
Increasing initiatives by market vendors
Many vendors in the global laboratory vacuum pumps market are conduction workshops to create awareness about the efficiency of vacuum pumps, and they showcase a range of videos and presentations on their websites to reach a larger audience and gain considerable market sales.
Presence of operational issues
The performance of laboratory vacuum pumps is influenced and governed by a range of factors, such as the presence of numerous components in a pump. Issues occurring in laboratory vacuum pumps include horsepower leakage, pump stalls, overloading of the electric motor, and discharge of oil from oil mist eliminator, which may hinder the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the laboratory vacuum pumps market during the 2019-2023 period, view our report.
The market appears to be fragmented and with the presence of several companies including Agilent Technologies and EBARA, the competitive environment is quite intense. Factors such as increased application of vacuum pump systems in laboratories and semiconductor processing and the increasing initiatives by market vendors, will provide considerable growth opportunities to laboratory vacuum pumps. Agilent Technologies, EBARA, Gardner Denver, Graham, and ULVAC are some of the major companies covered in this report.