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Vacuum Pump Market in China will likely to witness around 7% CAGR by 2025

Author : Rahul Varpe | Published Date : 2019-04-18 

Global Market Insights provides a detailed overview of Vacuum Pump market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Vacuum Pump market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Significant growth in pharmaceutical industry in emerging economies such as Europe and North America will boost the sales of vacuum pump positively in future. Vacuum pumps are used during the manufacturing of active pharmaceutical ingredients (APIs), intermediate products and bulk drugs to maintain the perfect reaction environment. In 2017, the U.S. minimal spending on pharma products crossed USD 450 billion. Upsurge in research & development investment in medical sector coupled with outbreak of various diseases owing to the change in food habits, lifestyle and climatic conditions are the factors that will have significant impact on the sales of medicine, and thus will drive the vacuum pump market in coming years.

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Development in chemical industry is the key factor impacting the sales of vacuum pump positively in coming years. Global chemical industry is likely to register around USD 5.5 billion by 2025 and China accounts the major share in the entire industry. This is all due to the existence of various small as well as medium scale manufacturers which caters the native demand, and this trend is expected to follow throughout the forecast period.

Developing economies like Indonesia, India and Thailand and will spur the chemical market growth in Asia Pacific region. Extensive usage of the product in chemical industry for many critical applications, such as in maintaining clean & dry reaction environments, will propel the regional vacuum pump market demand over the forecast spell.

On the basis of lubrication, the market is segregated into wet and dry. Among these, dry vacuum segment will register annual growth with around 6% CAGR in future as the pumps don't require any kind of lubrication and also provide dust & contamination free environment. This feature makes these pumps suitable for various applications in pharma industry.

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On the basis of technology, the industry is divided into gas transfer and gas capture/binding vacuum pumps. Among these, gas transfer pumps will capture around 80% of entire market share and dominate the overall technology segment. The gas transfer pumps segment is further bifurcated into kinetic type and positive displacement type. These types of pumps are extremely high-pressure machines and find application in chemical conveyance, energy sector, etc.

Oil & gas sector will dominate the entire end-user segment with an estimated CAGR of 6% over the forecast years. Upsurge in investments for production & exploration activities with current changes in policies related to production of oil & gas specially in North America is crucial factor for vacuum pump market growth by 2025.

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On the basis of region, China vacuum pumps industry will likely to witness around 7% CAGR in future, with revenue more than USD 2 billion by 2025. Prevalence of basic chemical and consumer electronic products manufacturing industries in China will bolster the regional market demand over the forecast timeframe.

The major players in the vacuum pump market include DEKKER, Shimadzu, Busch, Becker, Pfeiffer, Atlas Copco, Ebara, Agilent, ULVAC, Kashiyama, etc.

 

Related News: https://www.reuters.com/brandfeatures/venture-capital/article?id=101765

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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