Vane Pumps Market Forecasts from 2023 to 2028

The vane pump market is estimated to grow at a CAGR of 5.94% to reach US$3.422 billion by 2028 from US$2.285 billion in 2021.

Vane pumps are one type of rotary positive displacement pump that helps provide constant flow at varying pressures. The vane pump market is expected to experience significant growth in the projected period due to increased use in various end-user industries such as automotive, oil and gas, and construction. Various upcoming projects related to these segments in countries like the USA, India, and China are anticipated to propel the vane pump market growth. For instance, in February 2023, the Union Petroleum Minister of India inaugurated the launch of HPCL Rajasthan Refinery (HRRL), in Barmer, Rajasthan, India. The refinery is anticipated to have a processing capacity of 9 million tonnes of crude oil, and the operation will start in the year 2024. Such new projects in various countries are anticipated to increase the market demand for vane pumps.

Increasing use in the automobile industry

The increasing use of vane pumps in the automotive, oil and gas, and chemical industries is anticipated to fuel the vane pump market in the projected period. The rising demand for electric vehicles, increasing use of oil and gas, and increasing demand for chemicals will boost the demand for vane pumps in these industries. Vane pump can handle low-viscosity fluids, such as solvents, ammonia, alcohol, and LPG efficiently and is expected to surge the vane pump market growth. The increasing car ownership in developing countries can also be one of the reasons for increased demand. For instance, according to the International Energy Agency, car ownership currently in India is 22 cars per 1, 000 people but by the year 2040 car ownership is anticipated to increase to 150 cars per 1, 000 people, a growth of 775%. Hence, such increasing demand for various end-use products is growing, which will boost the vane pump market growth in the projected period.

Rise in petroleum consumption

In 2022, according to the U.S. Energy Information Administration, the United States witnessed an average daily petroleum consumption of approximately 20.28 million barrels, with a portion of this total, approximately 1.17 million barrels per day, being attributed to biofuels. Within the biofuels, ethanol fuel accounted for 1.002 million barrels per day, while biodiesel, renewable diesel, and other biofuels combined for 0.164 million barrels per day. It's important to note that the overall consumption of petroleum in the U.S. for 2022 increased by around 2% in comparison to the preceding year, 2021, and showed a more substantial 12% surge when compared to the levels seen in 2020. Hence, such growing end-user industries are anticipated to provide a boost to vane pumps in the projected period.

The United States is anticipated to be the fastest-growing country in the North American region

Vane pumps are essential to the effective fluid transfer and power systems used for the thriving automobile industry in the United States. The expansion of these significant vane pump end-users in the United States has been boosted by favourable investment inflows and an expanding customer base.

Furthermore, the vane pump marketis also anticipated to grow due to the increasing utilization of semiconductors. For instance, the bipartisan CHIPS and Science Act of 2022, which was built to make historic investments that will position American workers, communities, and companies to win the race for the 21st century, was signed into law by President Biden. Investments in R&D, science and technology, supply chains, and national security will all strengthen American manufacturing ultimately fueling the demand for vane pumps.. This significant increase in registration can be attributed to the rise in the use of vane pumps in the country.

Market Key Developments

• In May 2023, the new DVS vacuum pump series from Atlas Copco was created with the demand profile in mind. The end product is the DVS series, dry rotary vane pumps that operate without oil or noise and do not pollute processes.
• In November 2022, the first hermetically sealed rotary vane pump for mass spectrometry was offered by Pfeiffer Vacuum, a top producer of vacuum technology. The SmartVane is a backup pump for mass spectrometers (ICP-MS, LC/MS) used in pharmaceutical and clinical analytics, food and environmental analytics, and other related fields.

Segmentation:

By Type

• Unbalanced Vane Pump
• Balanced Vane Pump
• Flexible Vane Pump
• Others

By Component

• Shaft
• Casing
• Rotor
• Cam Ring
• Impeller
• Sliding Vane

By End-Users

• Oil & Gas
• Automotive
• Food & Beverages
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• United Kingdom
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Others