United States's Vacuum Pumps and Air or Gas Compressors Market to Reach $13.7B by 2035, Growing at a CAGR of +1.5% in Volume and +3.0% in Value - News and Statistics - IndexBox

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IndexBox has just published a new report: U.S. - Air Or Vacuum Pumps And Air Or Other Gas Compressors - Market Analysis, Forecast, Size, Trends and Insights.

The United States market for vacuum pumps and air or gas compressors is projected to experience steady growth in both volume and value over the next decade. With an anticipated CAGR of +1.5% in volume and +3.0% in value, the market is expected to reach 98M units and $13.7B by 2035, reflecting the increasing demand for these products.

Driven by increasing demand for vacuum pumps and air or gas compressors in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.5% for the period from 2024 to 2035, which is projected to bring the market volume to 98M units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2024 to 2035, which is projected to bring the market value to $13.7B (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of vacuum pumps and air or gas compressors was finally on the rise to reach 83M units for the first time since 2021, thus ending a two-year declining trend. The total consumption volume increased at an average annual rate of +1.9% over the period from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak volume of 92M units. From 2022 to 2024, the growth of the consumption of remained at a somewhat lower figure.

The value of the market for vacuum pumps and air or gas compressors in the United States expanded slightly to $9.9B in 2024, picking up by 4.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.3% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2024 and is expected to retain growth in years to come.

Production of vacuum pumps and air or gas compressors in the United States totaled 19M units in 2024, remaining relatively unchanged against the previous year's figure. The total output volume increased at an average annual rate of +2.5% over the period from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 13%. Production of peaked at 21M units in 2019; however, from 2020 to 2024, production failed to regain momentum.

In value terms, production of vacuum pumps and air or gas compressors stood at $6.5B in 2024. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 13%. Production of peaked at $7.3B in 2014; however, from 2015 to 2024, production remained at a lower figure.

In 2024, purchases abroad of vacuum pumps and air or gas compressors increased by 4.7% to 75M units for the first time since 2021, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.4% from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when imports increased by 16%. As a result, imports attained the peak of 83M units. From 2022 to 2024, the growth of imports of failed to regain momentum.

In value terms, imports of vacuum pumps and air or gas compressors totaled $7.6B in 2024. In general, total imports indicated a perceptible increase from 2013 to 2024: its value increased at an average annual rate of +4.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +56.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 21% against the previous year. Imports peaked in 2024 and are likely to see steady growth in the immediate term.

In 2023, China (29M units) constituted the largest vacuum pump and air or gas compressor supplier to the United States, accounting for a 40% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Mexico (14M units), twofold. The third position in this ranking was taken by Japan (5.1M units), with a 7% share.

From 2013 to 2023, the average annual growth rate of volume from China totaled +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+3.1% per year) and Japan (+4.2% per year).

In value terms, Mexico ($2.2B) constituted the largest supplier of vacuum pumps and air or gas compressors to the United States, comprising 30% of total imports. The second position in the ranking was held by China ($773M), with an 11% share of total imports. It was followed by Japan, with a 10% share.

From 2013 to 2023, the average annual growth rate of value from Mexico amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.9% per year) and Japan (+3.9% per year).

Turbo, rotary and reciporating displacement compressors (27M units), compressors for refrigeration equipment (24M units) and hand or foot-operated air pumps (15M units) were the main products of imports of vacuum pumps and air or gas compressors to the United States, with a combined 87% share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by turbo, rotary and reciporating displacement compressors (with a CAGR of +3.1%), while imports for the other products experienced more modest paces of growth.

In value terms, vacuum pumps and air or gas compressors with the largest imports in the United States were turbo, rotary and reciporating displacement compressors ($3.8B), compressors for refrigeration equipment ($2.8B) and vacuum pumps ($883M), with a combined 99% share of total imports.

Among the main product categories, turbo, rotary and reciporating displacement compressors, with a CAGR of +6.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

The average import price for vacuum pumps and air or gas compressors stood at $101 per unit in 2024, approximately mirroring the previous year. Over the period under review, import price indicated a moderate increase from 2013 to 2024: its price increased at an average annual rate of +3.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, import price for vacuum pumps and air or gas compressors increased by +48.8% against 2020 indices. The most prominent rate of growth was recorded in 2022 when the average import price increased by 21% against the previous year. The import price peaked at $101 per unit in 2023, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplied products. In 2024, the product with the highest price was turbo, rotary and reciporating displacement compressors ($143 per unit), while the price for hand or foot-operated air pumps ($2.7 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by turbo, rotary and reciporating displacement compressor (+3.5%), while the prices for the other products experienced more modest paces of growth.

In 2023, the average import price for vacuum pumps and air or gas compressors amounted to $101 per unit, surging by 18% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2022 an increase of 21% against the previous year. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($161 per unit), while the price for Vietnam ($20 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, shipments abroad of vacuum pumps and air or gas compressors decreased by -8.3% to 11M units for the first time since 2021, thus ending a two-year rising trend. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of 14%. Over the period under review, the exports of attained the maximum at 13M units in 2017; however, from 2018 to 2024, the exports stood at a somewhat lower figure.

In value terms, exports of vacuum pumps and air or gas compressors fell modestly to $4.2B in 2024. Over the period under review, exports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2023 when exports increased by 12%. The exports peaked at $5.2B in 2014; however, from 2015 to 2024, the exports remained at a lower figure.

Mexico (5.6M units), Canada (3.4M units) and Germany (517K units) were the main destinations of exports of vacuum pumps and air or gas compressors from the United States, with a combined 78% share of total exports. Japan, South Korea, the UK, Brazil and Saudi Arabia lagged somewhat behind, together comprising a further 9.4%.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +11.4%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($1.4B), Canada ($821M) and the UK ($244M) were the largest markets for vacuum pump and air or gas compressor exported from the United States worldwide, with a combined 57% share of total exports.

In terms of the main countries of destination, the UK, with a CAGR of +14.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Compressors for refrigeration equipment (5.4M units), turbo, rotary and reciporating displacement compressors (3.8M units) and vacuum pumps (1.5M units) were the main products of exports of vacuum pumps and air or gas compressors from the United States, with a combined 96% share of total exports.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by turbo, rotary and reciporating displacement compressors (with a CAGR of +5.2%), while the other products experienced mixed trend patterns.

In value terms, vacuum pumps and air or gas compressors with the largest exports in the United States were turbo, rotary and reciporating displacement compressors ($2.3B), compressors for refrigeration equipment ($1.3B) and vacuum pumps ($455M), with a combined 97% share of total exports.

Vacuum pumps, with a CAGR of +3.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main product categories over the period under review, while shipments for the other products experienced mixed trend patterns.

In 2024, the average export price for vacuum pumps and air or gas compressors amounted to $380 per unit, growing by 6.7% against the previous year. Overall, the export price, however, showed a mild reduction. The most prominent rate of growth was recorded in 2023 an increase of 9.9% against the previous year. Over the period under review, the average export prices reached the peak figure at $458 per unit in 2013; however, from 2014 to 2024, the export prices remained at a lower figure.

There were significant differences in the average prices for the major types of exported product. In 2024, the product with the highest price was air compressors mounted on a wheeled chassis for towing ($16 thousand per unit), while the average price for exports of hand or foot-operated air pumps ($43 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: refrigerator compressor (+2.8%), while the prices for the other products experienced more modest paces of growth.

The average export price for vacuum pumps and air or gas compressors stood at $356 per unit in 2023, increasing by 9.9% against the previous year. Over the period under review, the export price, however, saw a perceptible curtailment. The export price peaked at $458 per unit in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($1.1 thousand per unit), while the average price for exports to Canada ($242 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for vacuum pump and air or gas compressor in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles