July 27, 2020
According to the recent research report titled ‘Global Industrial Vacuum Pump Market: Analysis By Product Type, End User Industry, By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) - By Region (Americas, Europe, APAC, MEA), By Country available with Market Study Report LLC, global industrial vacuum pump market is expected to register a y-o-y growth rate of 5.82% throughout the forecast period.
Global industrial vacuum pump market is majorly driven by increasing demand for automation, along with rapid industrialization, and growth in emerging countries. Escalating industrial base and technological advancements are likely to fuel the market growth. Additionally, factors such as rapid urbanization in developing countries, along with growing demand from food & beverages and healthcare industries, in consort with surging energy demand and development of large manufacturing projects are driving the global industrial vacuum pump industry expansion.
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As per the report, government initiatives in the emerging economies for development of oil & gas and power sector and rapid urbanization is likely to influence global industrial vacuum pump market size. Industrial activities and rapid urbanization in developing countries, along with surging demand for electricity are the factors that are projected to foster the market growth in the forthcoming years..
Based on product type, global industrial vacuum pump market is divided into rotary vane vacuum pump, liquid ring vacuum pump, dry vacuum pump, and others. Elaborating on the end user scope, the market is bifurcated into power, semiconductor & electronics, chemical, oil & gas, and others.
Major contenders in global industrial vacuum pump market are Cutes Corp., Dekker Vacuum Technologies, Tuthill Corp., Becker Pumps Corp., Ebara Corporation, Graham Corporation, Flowserve Corp., Gardner Denver, Pfeiffer Vacuum, and Atlas Copco AB among others.