The analysts forecast global industrial vacuum pump market to grow at a CAGR of 5.22% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global industrial vacuum pump market for 2016-2020.
The following companies are the key players in the global industrial vacuum pump market: Atlas Copco, Gardner Denver, Pfeiffer Vacuum, Tuthill, and Ulvac. Other Prominent Vendors in the market are: Oerlikon, DEKKER Vacuum Technologies, Dr. Ing. K. Busch, Ebara, Gast Manufacturing - IDEX, Gebr. Becker, Graham, KNF Neuberger, PPI Pumps, Tsurumi Manufacturing, And Vooner FloGard.
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According to the Industrial Vacuum Pump market report key growth driver is the rising demand for the packaging industry. Even though there are other flexible package forms that allow reduction in volume of the contents, thereby making the package more compact. Reduction of the residual oxygen content in the package restricts the growth of aerobic bacteria, thus extending the shelf life of the product by 5-10 years.
The global Industrial Vacuum Pump market analyst said a trend that will boost market growth is the rising demand from the pharmaceutical and biotech industries. In both, the pharmaceutical and the biotechnology sectors, considerable effort goes into effectively controlling contamination from various sources that include people, raw materials, finished products, process plant and equipment, and accommodating-services. This is vital because even an infinitesimal amount of contamination will affect the efficacy of the end-product. Further, R&D in pharmaceutical and biotechnology sectors plays a very important role, covering a wide range of areas that include biopharmaceuticals, toxicology, forensic, metabolic, clinical, and diagnostics.
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Global Industrial Vacuum Pump Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Vacuum pumps are used to remove gas molecules from a sealed space or enclosure or a package. Despite the emergence of solid state electronics, vacuum pumping technology has evolved and its application has grown significantly. This technology plays a central role in at least 70 general manufacturing uses such as compression and drying that cover a wide range of industries. The global industrial vacuum pump market caters to key end-users such as the semiconductor, solar cell manufacturing, flat-panel display, and scientific instrumentation industries.
Further, the report states that one challenge that could hamper market growth is volatility in oil and gas prices.
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