Vacuum Degassing Machine Market Size, Share, Growth, and Industry Analysis, By Type (Commercial Vacuum Degasser, Industrialized Vacuum Degasser, Others), By Application (HVAC & Water-Purification System, Oil & Gas Mining, Package & Light Industry, HPLC, Others) and Regional Forecast to 2028

Updated On: 15 April 2024

vacuum degassing machine market REPORT OVERVIEW

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The global vacuum degassing machine market size was USD 397.7 million in 2022 and is expected to reach USD 467.8 million by 2028, exhibiting a CAGR of 2.7% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, vacuum degassing machine experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

In electronic components including hard drives, cassette tapes, computers, cartridge tapes, clips, or diskettes, undesired magnetic fields are typically reduced or eliminated via vacuum degassing machine. If there are any such obvious occurrences, the degaussers magnetic field either eliminates or neutralizes the undesired magnetic fields. To reduce the magnetism of the commercial vessel, these devices are now widely utilized in warships. The new warships have degaussing equipment built in. Given the benefits of doing so, it is preferable for ancient ships to have their degaussers retrofitted.

The fluidic direction of the degassing process is used for reliable and accurate performance. It is used to improve instrument accuracy by eliminating bubbles. As the degassing device helps to eliminate bubbles, which improves instrument throughput and eliminates the requirement for manual flow path correction, it is anticipated that the will expand market in the future. In the oil and gas, plastic production, and other industries, degassing techniques are frequently utilized. The demand is anticipated to increase in the near future due to ongoing research and development and technological developments in efficient manufacturing and processing.

COVID-19 Impact: Disturbance in Supply Chain to Deplete Market Growth

The worldwide vacuum degassing machine market growth has been significantly impacted by the COVID-19 outbreak. This is due to a disruption in the supply network. To help the vacuum degassing machine business expand, the government has recommended a variety of steps. However, large corporations have finally found novel approaches and equipment to address issues and preserve the market.  Over the anticipated timeframe, this will result in significant market expansion.

LATEST TRENDS

"Oil and Gas Mining Industries to Stimulate Market Development  "

In oil and gas mining, vacuum degassing machines are used to extract gases that are dissolved from liquids. The dissolved gases are brought out of the mixture and sucked into the vacuum pump by employing a vacuum device in order to produce a vacuum on the liquid's surface. The elimination of air and other gases within sealed containers is done in the package and light industry using a vacuum degassing machine. Another name for this procedure is vacuum packaging. It is a packaging technique that entails emptying a container of air before sealing it.

vacuum degassing machine market SEGMENTATION

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• By Type

Based on type; the market is divided into commercial cacuum degasser, industrialized vacuum degasser, others

Commercial cacuum degasser is the leading part of the type segment.

• By Application

Based on the application; the market is divided into HVAC & water-purification system, oil & gas mining, package & light industry, HPLC, others

HVAC & water-purification system is the leading part of the application segment.

DRIVING FACTORS

"Improved Signature Control by the Equipment to Aid Market Expansion  "

Degaussing techniques also provide a number of benefits, including improved signature control, help with problem management, and magnet maps. In naval warfare, degaussing solution devices are used to shield ships from hostile mines. This will lead to positive growth for the degaussing solution sector within the market.

"Medium Vessel Category to Foster Industry Progress "

The vacuum degassing machine market is divided into three segments based on vessel type: medium vessels, large vessels, and small vessels. Over the projection period, it is anticipated that the medium vessel category will continue to have a significant market share. Corvettes, destroyers, and submarines are examples of medium-type vessels. The growing demand for degaussing operations to defend submarines from enemy underwater mines can be attributed to the fact that medium vessel types have been adopted more frequently by the navies of different nations.

RESTRAINING FACTORS

"Lack of Electromagnetic Power to Limit the Market Evolution "

Modern stainless steel vessels come equipped with degaussing devices, but enemy ships are able to identify lighter warships made of carbon fiber or other composite materials. Additionally, the degaussing technologies are unable to lessen the hazard because of a lack of electromagnetic power. This may serve to limit the vacumm degassing machine market.

vacuum degassing machine market REGIONAL INSIGHTS

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"Rising Defence Industry in Asia Pacific to Support Market Advancement "

Over the course of the projection period, Asia Pacific will experience the vacuum degassing machine market share quick rise. This expansion might be ascribed to rising defense industry spending and restructuring initiatives by businesses that produce naval vessels. The Asia Pacific area will also see tremendous expansion concurrently.

Disputes over territory, which have prompted an increase in the deployment of degaussing systems, are the primary driver of the degaussing system's expansion in this region. Due to an increase in conflicts on the eastern and western coastlines of the seaboard in addition to conflicts in the Asia Pacific area, there has also been an increase in military spending to safeguard naval vessels.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The report provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

List of Market Players Profiled

• Spirotech (Netherlands)
• Elgin (U.S.)
• Derrick (U.S.)
• Quantachrome Instruments (U.S.)
• SunChrom (Germany)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.