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The market is expected to grow significantly owing to the rise in the demand for automation along with rapid industrialization growth in emerging economies. The rapid urbanization in developing economies, with rising demand from food and beverages as well as healthcare industries, coupled with the development of large manufacturing projects and burgeoning energy demand is driving the market of industrial vacuum pump. Also, robust growth in energy and manufacturing sector over the historical period coupled with significant capital expenditure in expansion and installation of manufacturing units in emerging economies has driven the demand of industrial vacuum pump during the forecast period.
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Global Industrial Vacuum Pump Market by Product Types, End-users, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026 Report By
The globalindustrial vacuum pump market is expected to expand at a substantial CAGR during the forecast period, 2020–2026. Vacuum pump is a mechanical device which is used to create vacuum by removing gas molecules from a sealed volume. Growing adoption of vacuum pumps in power, oil & gas, chemical processing, and semiconductor industries is driving the demand for vacuum pumps. Moreover, rising investment in these industries is also expected to benefit the market of vacuum pumps globally. Rise in demand for industrial vacuum pumps in pharmaceutical and bio-tech industries for controlling contamination that arises from process plant, is one of the factors driving this market. The demand for power has been rising across the globe and this is leading to widespread expansion activities in the power industry and this, in turn is anticipated to boost the global industrial vacuum pumps market. Increase in trend of using digital equipment and strong growth in the semiconductor manufacturing sector are anticipated to fuel this market during the forecast period. Semiconductor is one of the key application areas of industrial vacuum pumps across the globe. Dynamic industrial development and rise in population are key factors boosting the industrial vacuum pumps market. Request for sample@https://dataintelo.com/request-sample/?reportId=8543
Market Trends, Drivers, Restraints, and Opportunities: • Growing electricity demand, rapid urbanization and industrial activities in developing countries, growing population and dynamic industrial development, and rising in demand for industrial vacuum pumps in pharmaceutical and bio-tech industries is considered to drive the global industrial vacuum pump market during the forecast period. • Stringent environmental laws and regulations by various governments, non-industrial pump manufacturers in developing countries enter the attractive industrial pump segment by taking advantage of their low-cost manufacturing base and distribution network, fluctuations in currency exchange rate, as well as fluctuations in raw material prices, risk net revenue and operating margin of global manufacturers are considered as restraints and it will hamper the growth of the global industrial vacuum pump market during the forecast period. • Introduction and adoption of advanced technology can create opportunity and this will boost the global industrial vacuum pump market during the forecast period.
Ask for discount@https://dataintelo.com/ask-for-discount/?reportId=8543 Competitive Landscape: The world leading players in the global industrial vacuum pump market include Atlas Copco, Gardner Denver, Pfeiffer Vacuum, Tuthill, ULVAC,Oerlikon Corporate, Graham Corporation, Dekker Vacuum Technologies, Becker, Gast Manufacturing, IDEX Corporation, Busch, KNF Neuberger, Tsurumi Manufacturing, Ebara Corporation, PPI Pumps, and Vooner FloGard Corporation. The global industrial vacuum pumps market is highly concentrated with the top manufacturers accounting for approximately 45% to 50% market share in recent times. Enquiry Before Buying@https://dataintelo.com/enquiry-before-buying/?reportId=8543
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