Overview of the Global Market for Vacuum Pumps and Air or Gas Compressors

Market Size for Vacuum Pumps and Air or Gas Compressors

For the third year in a row, the global market for vacuum pumps and air or gas compressors recorded growth in sales value, which increased by 6.1% to $X in 2022. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 7.8% against the previous year. Over the period under review, the global market hit record highs in 2022 and is likely to see gradual growth in years to come.

Production of Vacuum Pumps and Air or Gas Compressors

In value terms, production of vacuum pumps and air or gas compressors rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by 8.5%. Over the period under review, global production of attained the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports

In 2022, overseas shipments of vacuum pumps and air or gas compressors decreased by -8% to X units for the first time since 2015, thus ending a six-year rising trend. The total export volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 20% against the previous year. As a result, the exports reached the peak of X units, and then shrank in the following year.

In value terms, exports of vacuum pumps and air or gas compressors amounted to $X in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 20%. Over the period under review, the global exports of reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

China dominates compressors structure, amounting to X units, which was near 62% of total exports in 2022. Taiwan (Chinese) (X units), Germany (X units), Japan (X units), Mexico (X units), Hong Kong SAR (X units), Thailand (X units), Poland (X units) and the United States (X units) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to vacuum pump and air or gas compressor exports from China stood at +3.3%. At the same time, Poland (+9.6%), Mexico (+9.6%), Japan (+3.6%) and the United States (+1.8%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.6% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Germany (-1.2%), Thailand (-1.8%) and Taiwan (Chinese) (-6.4%) illustrated a downward trend over the same period. While the share of China (+9.5 p.p.) and Mexico (+1.9 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Taiwan (Chinese) (-5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Germany ($X) and the United States ($X) constituted the countries with the highest levels of exports in 2022, together comprising 44% of global exports.

Among the main exporting countries, China, with a CAGR of +7.9%, recorded the highest rates of growth with regard to 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 export price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, with an increase of 9.5% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.7%), while the other global leaders experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports

In 2022, after five years of growth, there was decline in supplies from abroad of vacuum pumps and air or gas compressors, when their volume decreased by -2.9% to X units. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 24%. As a result, imports reached the peak of X units, and then reduced in the following year.

In value terms, imports of vacuum pumps and air or gas compressors amounted to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 19%. Over the period under review, global imports of reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, the United States (X units), followed by India (X units), Germany (X units), Mexico (X units) and Thailand (X units) represented the main importers of vacuum pumps and air or gas compressors, together mixing up 38% of total imports. Hong Kong SAR (X units), the UK (X units), Turkey (X units), Japan (X units), Poland (X units), Russia (X units), France (X units) and Italy (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +8.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X) constitutes the largest market for imported vacuum pumps and air or gas compressors worldwide, comprising 15% of global imports. The second position in the ranking was taken by Germany ($X), with a 7.1% share of global imports. It was followed by Mexico, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +4.6%. In the other countries, the average annual rates were as follows: Germany (+2.2% per year) and Mexico (+1.4% per year).

Import Prices by Country

In 2022, the average import price for vacuum pumps and air or gas compressors amounted to $X per unit, increasing by 5.3% against the previous year. Over the period under review, the import price, however, recorded a noticeable curtailment. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 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 the United States ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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