Rising demand for electronic products to drive vacuum pump market over 2018-2025
Date: 2018-07-16   Author: Saipriya Iyer  Category: #market

Rising demand for electronic products to drive vacuum pump market over 2018-2025

The robust technological enhancement in electronic components will reportedly be a prime factor driving vacuum pump market. With the rise in middle class incomes and the subsequent increase in affordability and standards of living, the demand for semiconductors and electronic components will rise up by several notches, fueling vacuum pump industry share.

Five trends defining vacuum pump market:

  • Gas transfer technology emerged dominant in vacuum pump market in 2017, accounting for over 80% of the overall share. The technology is apparently inclusive of kinetic and positive displacement pumps used in power generation, chemical transportation, oil pipelines, and other heavy-duty applications.
  • Asia Pacific dominated the overall vacuum pump market in 2017, holding 50% share, owing to the robust presence of numerous semiconductor and chemical companies in the region. The continent also houses myriad small and medium-sized companies manufacturing vacuum pumps.
  • Oil & gas sector emerged dominant in 2017, accounting for over USD 1 billion in vacuum pump market. The growth can be attributed to the recent improvement in the O&G business space in tandem with the increasing investments in exploration and drilling activities.
  • Germany vacuum pump market size was pegged at USD 150 million in 2017. The region is expected to witness substantial growth in the years ahead, primarily on account of the hefty presence of chemical & pharmaceutical companies in the region.
  • The semiconductor & electronics industry will reportedly be the fastest growing segment in vacuum pump market over 2018-2025. The growth can be credited to the rapid digitization trends and rising electronic component sales across the globe.

Apparently, the competitive spectrum of vacuum pumps industry is rather diverse, comprising firms that have been undertaking myriad growth strategies to sustain in this business sphere. Ulvac, Pfeiffer Vacuum, Ebara Corp., Gardner Denver, Shimadzu, and Agilent are some of the firms that form a part of this industry.

About Author

Saipriya Iyer

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

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