Chinese Vacuum Pump Market a $1.9 Billion Investment Opportunity by 2024

Momentum-transfer, positive-displacement, and regenerative are the three major types of such devices. Positive-displacement vacuum pumps further come in the diaphragm, rotary-vane, piston-pump, liquid-ring, and dry-screw types.

Among these, liquid-ring-type positive-displacement pumps saw the highest usage during 2014–2018, as these can be used for different gases, by altering the discharge temperature, thereby offering more flexibility. The major applications of such devices are vacuum condensation, vacuum distillation, ash and air handling, moisture extraction, and mineral beneficiation, in an array of industries, including oil & gas, petrochemical, chemical, seawater deaeration, distillery, fertilizer, pharmaceutical, sugar, paper, railways, power, food & beverage, textile, and mineral.

A key vacuum pump market in China opportunity is the development of smart vacuum pumps. With the use of the frequency inverter technology, they work with a range of voltages and frequencies, to offer optimal and consistent performance.

Among these, the use of vacuum pumps in the chemical & pharmaceutical sectors is significant. Here, such equipment is primarily used for distillation, drying, filtration, solvent recovery, crystallization, and gas boosting, apart from the degassing of oils, glues, polymers, and water.

In 2018, China was the largest producer of chemicals and also their largest user, holding a 37.0% share of the global chemical sales. The major reasons for the growth of the chemical sector in the country are the easy availability of labor and raw materials at low costs, government subsidies, and relaxed environmental norms.

Similarly, the national pharmaceutical sector is prospering, on account of the rising investments in research and development and setting up of production plants by global industry giants.

Get Sample With Technical Innovation : https://www.psmarketresearch.com/market-analysis/china-vacuum-pump-market/report-sample

With the growing burden of several diseases, which is leading to the expansion of the overall healthcare niche, the demand for pharmaceutical products is increasing. This is why of all the application areas of vacuum pumps — semiconductor & electronics, chemical & pharmaceutical, mining & general, food & beverages, oil & gas, and energy & power — chemical & pharmaceutical was their largest user during the historical period.

Read More

How Growing Demand in Pharmaceutical Industry is Driving Growth of Chinese Vacuum Pump Market?

China vacuum pump market is being driven by the growing demand for such devices from the pharmaceutical, semiconductor, and chemical industries. In 2018, the sale of such equipment generated $1.2 billion, and the market is projected to progress at a CAGR of 8.7% during the forecast period (2019–2024) to value $1.9 billion by 2024. A vacuum pump is used to remove all the air and gas molecules from an area to create a partial vacuum.

The industry in China is currently growing faster than most other countries due to the increasing investments, favorable government policies, and easily available labor at low cost. In 2018, China accounted for almost 40.0% of the global chemicals production.

Such devices can handle fluids of high and low or even variable viscosity and liquids with a high amount of entrapped gas or air molecules., which makes them the preferred choice among industries which process food, beverages, and other substances.

Based on type, the vacuum pump market in China is classified into regenerative, momentum transfer, positive displacement, and other pumps. During the historical period (2014–2018), the positive displacement classification led the market in terms of revenue as well as total sales.

Thus, the deployment of vacuum pumps would rise in China to meet the set targets of semiconductor & electronics and chemical & and pharmaceutical production.

Read More