NEW YORK, Sept. 01, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, China vacuum pump market share is expected to reach $1.9 billion by 2024, citing a CAGR of 8.7% during forecast period. Growing demand for vacuum pumps from industries including oil & gas, chemical & pharmaceutical, food & beverages, and energy & power. Moreover, rising purchasing power of middle-class population, in addition to rapid technological developments in electronics, is further expected to drive the market, according to P&S Intelligence.
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Based on type, China vacuum pump market has been divided into positive displacement, momentum transfer, regenerative, and others, wherein others include, entrapment, venturi, and steam ejector. Positive displacement vacuum pump market registered largest market revenue share in 2018. The growth is primarily driven by steady demand from end-user industries namely, food & beverage (F&B), and chemical & pharmaceutical. China’s F&B industry is estimated to register a revenue of $22 billion by the end of 2019, with an average revenue per user (ARPU) currently amounting to about $28.
Browse report overview with 36 tables and 27 figures spread through 92 pages and detailed TOC on "China Vacuum Pump Market Research Report: By Type (Positive Displacement, Momentum Transfer, Regenerative), Application (Oil & Gas, Semiconductor & Electronics, Chemical & Pharmaceutical, Mining & General, Food & Beverages, Energy & Power) – Industry Analysis and Growth Forecast to 2024" at: https://www.psmarketresearch.com/market-analysis/china-vacuum-pump-market
On the basis of application, China vacuum pump market has been categorized into chemical & pharmaceutical, semiconductor & electronics, F&B, mining & general, energy & power, oil & gas, and others, wherein others include pulp and paper and medical applications. Of these applications, semiconductor & electronics segment is expected to register highest growth during the 2019-2024. Vacuum pumps play significant role in the production process of electronic products and semiconductor equipment. Chinese officials have set the semiconductor industry a goal of reaching $305 billion in output by 2030, and meeting 80% of domestic demand.
Central China region is expected to register fastest growth in the forecast period. Central provinces are attracting investments in high-tech manufacturing via Made in China 2025. Also, the rise in presence of machinery and consumer-oriented industries such as automobile and auto parts manufacturing expected to provide healthy growth to the vacuum market in the region in the coming years.
Smart vacuum pump use frequency inverter technology to deliver consistent and optimal performance while using different range of frequency and voltage. This type of pump is light in weight and has twin-cylinders to deliver high-speed evacuation. Smart vacuum pumps operate at low power as compared to traditional vacuum pumps and are controlled by a microprocessor-controlled frequency inverter driving unit to deliver high starting torque. These pumps have low inrush current compared to traditional pumps and don’t require circuit breakers leading to reduced system costs.
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Some of the key players in China vacuum pump market include Guangdong Kenflo pump Limited, Zibo Vacuum Equipment Plant Co., Ltd, Zibo Water Ring Vacuum Pump Factory Co., Ltd, Flowserve SIHI Germany GmbH, Atlas Copco AB, Pfeiffer Vacuum Technology AG, Gardner Denver Holdings Inc., ULVAC, Inc., EBARA Corporation, Shimadzu Corporation, Leybold GmbH, Kashiyama Industries Ltd., KNF Neuberger GmbH, and Gebr. Becker GmbH.
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