Industrial vacuum pumps: Key market research findings
- The demand from the packaging industry drives the market
- The APAC region dominates the market geographically
- Key vendors—Atlas Copco, Gardner Denver, Pfeiffer Vacuum, Tuthill, and ULVAC
Technavio’s market research analysts expect the global industrial vacuum pump market to grow at a CAGR of over 5% between 2016 and 2020. The market is driven primarily by the increasing demand for vacuum pumps from the packaging industry. Vacuum packaging involves removal of air (oxygen) from containers/packages to preserve the wholesomeness and freshness of the content. The demand for vacuum packaging machinery is mainly prevalent in North America, especially the US, Canada, and Mexico. In 2015, APAC dominated the global industrial vacuum pump market by accounting for 44% of the market share. The growth of the market in this region can be attributed to the widespread and rapid industrialization and urbanization. The growth of growth of process industries such as water, food and beverage, and oil and gas is likely to propel growth in the market during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the industrial vacuum pump segments by end-user.
“The growing demand from the semiconductor industry is the latest trend in the global industrial vacuum pump market. Some of the manufacturing steps in the industry involve the use of industrial vacuum pumps to convert the silicon chips into memory chips, CPUs, and graphic processors. The demand for industrial vacuum pumps is likely to increase with the growing demand for computers, laptops, and mobile phones in the coming years,” Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
In2015, the process industry segment dominated the global industrial vacuum pump market by accounting for a market share of almost 39%. Among process industries, the chemical processing industry is the largest end-user of industrial vacuum pumps. Other consumers of industrial vacuum pumps in the process industry segment include cement, pulp, and paper, sugar mills, food packaging, and pharmaceutical industries, wherein the usage of these pumps have scientific or medical applications.
The key vendors in the global industrial vacuum pump market include Atlas Copco, Gardner Denver, Pfeiffer Vacuum, Tuthill, and ULVAC. The global industrial vacuum pump market consists of many international players, and most of these players have a broad range of vacuum pumps for all end-user applications. This has created high competition in the market. The key players in the market are expected to diversify their geographical presence with a focus on APAC during the forecast period.
A more detailed analysis is available in the Technavio report, Global Industrial Vacuum Pump Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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