A new analysis report on the market, “Turbomolecular Pump Market,” which is forecasted between 2023 and 2028 has been published by Knowledge Sourcing Intelligence.
The Turbomolecular Pump Market is estimated to reach a market size worth US$1,933.372 million by 2028.
The turbomolecular pump market is currently witnessing substantial growth propelled by the increasing demand from rapidly expanding industries such as automotive and electronics coupled with continuous research and development efforts in the field of turbomolecular pumps. These sectors heavily rely on turbomolecular pumps for applications like vacuum coating, semiconductor manufacturing, and research laboratories. The growing industry demand coupled with ongoing innovation is fueling the significant growth of the turbomolecular pump market.
As per the report, the turbomolecular market is expected to grow at a steady pace.
A turbomolecular pump is a specialized type of vacuum pump designed to achieve and sustain high levels of vacuum by utilizing a rapidly spinning rotor. It functions through kinetic principles and bears some resemblance to a turbopump.
Various product launches and technological advancements happening in the market for instance in August 2021, Leybold, the world’s oldest vacuum pump manufacturer, introduced its range of advanced turbomolecular pumps with higher pumping speeds of 1350 and 1450 l/s. With this enhancement, the new TURBOVAC 1350 i/iX and TURBOVAC 1450 i/iX models can cater to a wider array of industrial and scientific applications.
The market for turbomolecular pumps can be categorized into three distinct types based on their product design such as oil-lubricated type, magnetically suspended type, and hybrid. These classifications enable customers to choose the most suitable turbomolecular pump based on their specific requirements and preferences.
The evolving turbomolecular pump market encompasses a wide range of specialized instruments and technologies, which can be categorized into three main segments: nanotechnology instruments, analytical instruments, and industrial vacuum processing equipment. Each segment serves a distinct purpose within their respective fields.
The turbomolecular pumps market finds various applications in analytical instrumentation, semiconductor manufacturing, research and development activities, and other related fields. These pumps play a critical role in creating and maintaining vacuum conditions necessary for accurate analysis and measurement in analytical instrumentation.
Asia- Pacific region is expected to hold a significant market during the forecasted period based on geographical segmentation. The significant market share can be attributed to the robust growth observed in the industrial and automotive sectors. Leading countries such as China, Japan, South Korea, and India are driving market growth due to expanding automotive and semiconductor production. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2022, automotive production in China witnessed a 3% growth, while India experienced a significant surge of 24%. South Korea also saw a notable increase with a 9% rise in automotive production. Additionally, according to the Taiwan Semiconductor Industry Association, in 2021, the total revenue of the Taiwan IC industry, encompassing design, manufacturing, packaging, and testing, reached an impressive NT$ 4,082.0 billion, reflecting a significant growth of 26.7% compared to the previous year.
The research includes coverage of Agilent, Atlas Copco, Busch, Ebara Technologies, KYKY Technology Co. LTD., Osaka Vacuum, Ltd., Pfeiffer Vacuum GmbH, and Shimadzu Corporation as significant market players in the turbomolecular pump industry.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/turbomolecular-pump-market
This analytics report segments the turbomolecular market on the following basis:
- By Product
- Oil-Lubricated Type
- Magnetically Suspended Type
- By Type
- Nanotechnology Instruments
- Analytical Instrumentation
- Industrial Vacuum Processing
- By Application
- Analytical Instrumentation
- Research & Development
- By Geography
- North America
- South America
- United Kingdom
- The Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America