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.
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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.
This post was originally published on Raleigh Recorder