Cryopump Market Expected to Reach $1.2 Billion by 2032—Allied Market Research
WILMINGTON, DELAWARE, UNITED STATES, April 12, 2024 /EINPresswire.com/ — A cryopump serves as a specialized vacuum pump utilized across engineering, scientific research, and manufacturing industries to achieve and maintain ultra-high vacuum (UHV) conditions. Operating on the principle of cryogenic cooling, the cryopump efficiently condenses and captures gases from a vacuum chamber by subjecting them to extremely low temperatures.
Commonly found configuration types of cryopumps are flat and straight. Out of these two segments, the flat segment held a higher market share in terms of revenue in 2020. The flat design allows for easy integration into existing vacuum systems or equipment, making them suitable for retrofitting or upgrading existing setups. The same segment is expected to dominate the cryopump market forecast by growing with the highest CAGR.
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The cryopump market size was valued at $580.20 million in 2020, and is estimated to reach $1.2 billion by 2032, growing at a CAGR of 6.4% from 2023 to 2032.
The straight segment also holds a considerable share of the market. The straight design allows for flexibility in installation and orientation, making them adaptable to various vacuum system configurations. Straight cryopumps are commonly used in semiconductor manufacturing processes, such as etching, sputtering, and chemical vapor deposition, where high pumping speeds are essential for maintaining clean and controlled vacuum environments.
Moreover, the cryopump market analysis also includes cooldown duration of cryopumps, which includes 90 minutes and less, and more than 90 minutes. In 2020, the more than 90 minutes segment dominated the cryopump market, in terms of revenue, and is expected to maintain this trend during the forecast period. These are often utilized in applications where prolonged, continuous operation is expected, and the initial cooldown time is less critical compared to overall pump performance.
On the other hand, the 90 minutes and less segment is expected to grow with a higher CAGR during the forecast period. These cryopumps are often favored in scenarios where frequent starts and stops are required or in processes where short cooldown times are critical for efficiency and productivity.
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The market is driven by the growth in the semiconductor industry in most parts of the world such as India, China, Vietnam, Malaysia, UAE, Saudi Arabia, Europe, and others. Moreover, the high installation and maintenance cost of cryopumps is a restraining factor for the market growth. On the other hand, the rising spending on R&D activities is anticipated to provide growth opportunities for the cryopump market growth.
In 2022, Asia-Pacific dominated the global cryopump market, in terms of revenue. Moreover, the market in Europe is anticipated to grow with the highest CAGR, owing to growth in industrialization in the region.
The cryopump market is witnessing an obstruction in growth due to economic downturn, which is a result of Ukraine-Russia war.
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Top Key Players:
SHI Cryogenics Group, Leybold Products GmbH, Ulvac Cryogenics, Inc., Trillium, Vacree Technologies Co.,Ltd, Pfeiffer Vacuum GmbH, Atlas Copco AB, Ebra Corporation, Nikkiso Co., Ltd, Elliott Group, LLC., Nikkiso
Key Findings Of The Study
The report provides an extensive analysis of the current and emerging Cryopump market trends and dynamics.
Depending on configuration, the flat segment dominated the cryopump market, in terms of revenue in 2020, and the same segment is projected to grow at a significant CAGR during the forecast period.
By cooldown duration, the more than 90 minutes segment dominated the cryopump market share in terms of revenue generated in 2020, and the 90 minutes and less is anticipated to grow with a higher CAGR during the forecast period.
Depending on crossover rating, the less than 250 Torr-Liter segment is projected to grow at a significant CAGR during the forecast period.
In 2020, the Asia-Pacific region held the largest market share in terms of revenue.
The key players within the Cryopump market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the Cryopump industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
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