Global Industrial Vacuum Pump Market Report
According to a research report published by Azoth Analytics in June 2019, the Global Industrial Vacuum Pump Market was valued at USD 2,274.85 million in the year 2018. Global Industrial Vacuum Pump market is expected to grow mainly due to rapid urbanization in emerging economies, development of larger projects in construction, water and waste water sector along with robust industrialization growth in automotive, oil and gas and another prominent industrial sector.
The Azoth Analytics research report titled Global Industrial Vacuum Pump Market has analysed and segmented the Industrial Vacuum Pump By Product Type (Dry Vacuum Pump, Liquid Ring Vacuum Pump, Rotary Vane Vacuum Pump, Others), By End User Industry (Oil and Gas, Chemical, Semiconductor Electronics, Power, Others), By Region (Americas, Europe, Asia Pacific, Middle East Africa) and By Country (U.S, Canada, Mexico, Brazil, Germany, France, Italy, United Kingdom, China, Japan, India, South Korea) for the historical period of 2014-2018 and the forecast period of 2019-2024.
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Global Industrial Vacuum Pump market is expected to grow significantly owing to rise in the demand of automation along with rapid industrialization growth in emerging economies. Further expanding industrial base and advancement in the technology is anticipated to propel the market growth. The rapid urbanization in developing economies, with rising demand from food and beverages as well as healthcare industries, coupled with development of large manufacturing projects and burgeoning energy demand is driving the market of industrial Vacuum Pump.Rising industrialization and Expansion of manufacturing sector in Asia pacific region, backed with growing global electricity demand are the key factors which is driving the market of industrial Vacuum Pump in the region. Expansion in infrastructure due to large population shift in cities and high standard of living has also increased the demand of vacuum pumps. China is one of the biggest consumers of Industrial Vacuum Pump in APAC region on the account of its massive industrial base which manufacture automobiles, primary metals, chemicals, paper, food & beverage, defence equipment and oil production. Moreover, America based companies are focussing on implementation in latest vacuum Pumps by developing variable speed technology which offers a superior energy efficient feature on Liquid ring Vacuum pump. Additionally, increasing production activity with the power of internet of things (IOTs) is anticipated to support the market for industrial Vacuum Pump in Europe region. Rise in economic and social development in African countries like Nigeria, South Africa and Angola with its growing Chemical, mining & metal and food & beverage sector placed the demand of Industrial Vacuum Pump Market.
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