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Expanding Chemical & Pharmaceutical Industry Driving Chinese Vacuum Pump Market
by Deepak Kumar Sr. SEO ExecutiveIn 2018, the Chinese vacuum pump market generated $1.2 billion and is projected to advance at an 8.7% CAGR during the forecast period (2019–2024). The market is witnessing growth due to the expanding chemical & pharmaceutical industry, rising demand from the semiconductor industry, and increasing demand for dry vacuum pumps.
When type is taken into consideration, the China vacuum pump market is categorized into momentum transfer, positive displacement, regenerative, and others (which include venturi vacuum pump, steam ejector, and entrapment pump).
Vacuum pump is used for removing gas molecules from a confined space in order to create a partial vacuum. The device applies a suction force using different techniques for removing the fluid from a sealed volume.
Among these, the market was dominated by the positive displacement category during the historical period (2014–2018) and is projected to hold the largest share of the market during the forecast period as well, both in terms of value and volume. This category is further classified into rotary vane, dry screw pump, liquid ring, diaphragm, piston pump, and others.
In terms of application, the Chinese vacuum pump market is divided into semiconductor & electronics, mining & general, oil & gas, chemical & pharmaceutical, food & beverages, energy & power, and others (which include pulp & paper industry and medical applications).
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Out of these, the chemical & pharmaceutical application accounted for the largest share of the market during the historical period and is predicted to retain its position during the forecast period, in terms of value. This is because vacuum pumps are widely utilized in the pharmaceutical industry.
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About Deepak Kumar 
Sr. SEO Executive
133 connections, 0 recommendations, 367 honor points.Joined APSense since, May 30th, 2017, From New York, United States.
Created on Mar 25th 2020 10:59. Viewed 355 times.
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