Vacuum Pumps Market - MEA Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2025
Albany, NY -- (SBWIRE) -- 12/07/2015 -- According to a new market report published by Transparency Market Research "Vacuum Pumps Market - MEA Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2025" the MEA market for vacuum pumps, in terms of revenue, was valued at US$ 199.5 Mn in 2014 and is forecast to grow at a CAGR of 11.1% during the period 2015 to 2025. Energy demand growth and resurgence of large project activity after economic slowdown are some key factors driving the growth of vacuum pumps market. In addition, growth of more process industries in the region across verticals is further expected to drive the growth of this market over the forecast period.
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The MEA vacuum pumps market was dominated by the low vacuum pressure range with a market share of around 45% in 2014. Packaging and conveying industries in MEA are driving the market for low vacuum pressure range pumps. Medium vacuum pressure pumps with market share of around 39% in 2014 are forecast to grow at a significant rate during the forecast period 2015 to 2025. Process industries, inclusive of petrochemical, chemical, pharmaceutical, plastics, food & beverages, textile and power industries are expected to drive the demand for medium low vacuum pressure range pumps in the MEA region.
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Entrapment pumps and gas transfer pumps are two different types of vacuum pumps. The MEA vacuum pumps market was dominated by the gas transfer pumps with a market share of around 61% in 2014. In gas transfer vacuum pumps, momentum is created with a piston or propeller kind of device in the pumps which pushes the gas around the inner parts of the pump. The piston in the pump accelerates the gas and air molecules, creating an area of low pressure. The segment is projected to remain dominant in the region throughout the forecast period due to usage in the oil & gas industry.
By end-use application sector, oil & gas sector with over 36% held the largest market share in the overall MEA vacuum pumps market in terms of revenue in 2014. Small scale industries into manufacturing sector, power and process industries are increasingly deploying vacuum technologies comprising different types of vacuum pumps for various processes.
GCC countries led the MEA vacuum pumps market in 2014 with the share of about 30% in 2014 of the overall MEA vacuum pumps market due to strong industrial and manufacturing activities in the region. Export of non-oil products has increased during the last two decades leading to the diversification of exports from primary products basically oil and petrochemical products. The market in Iran is expected to overtake the GCC countries during the forecast period. On account of new opportunities in countries in North and South Africa and rest of MEA region, vacuum pumps market is expected to grow at a CAGR of 11.1% during the forecast period 2015 to 2025.
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The key manufacturers in vacuum pumps market are Gardner Denver, Inc., Pfeiffer Vacuum GmbH, ULVAC, Inc., Oerlikon Leybold Vacuum GmbH, Atlas Copco AB, Tuthill Corporation, Graham Corporation, Dekker Vacuum Technologies, Inc., Ebara Corporation and Sterling SIHI GmbH among others.
The MEA vacuum pumps market has been segmented as follows:
MEA Vacuum Pumps Market, by Application Range
Low vacuum Pressure
Medium vacuum Pressure
High and Ultra-high vacuum pressure
MEA Vacuum Pumps Market, by Type
Gas Transfer Vacuum Pumps
MEA Vacuum Pumps Market, by End-use Application
Oil & Gas
Industrial and Manufacturing
Semiconductor & Electronics
MEA Vacuum Pumps Market, by Country
Rest of MEA
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