Transparency Market Research Added A New "Vacuum Pumps Market Research Report" And Its Full Database.
Albany, NY -- (SBWIRE) -- 06/13/2017 -- Spurred by rapid urbanization and industrialization, demand for energy in the Middle East and Africa is rising at a considerable pace. Additionally, the resurgence of large projects post the economic rebound is also being noticed in the region. These factors are creating opportunities conducive to the growth of the vacuum pumps from the Middle East and Africa (MEA) market.
In a new report, titled "Vacuum Pumps Market - MEA Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2025," Transparency Market Research presents a holistic analysis of the various factors influencing growth of the vacuum pumps market in the MEA. Based on in-depth research, the report has pegged the overall value of the MEA vacuum pumps market at US$199.5 mn in 2014. The market, according to the report, is poised to surge at a CAGR of 11.1% between 2015 and 2025.
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Vacuum technology enables replacing of processes that could have an adverse impact on the environment. It includes vacuum pumps and other components such as leak detectors and measuring devices. Demand for vacuum pumping primarily arises for applications in vacuum packaging of food, environment-friendly charging of air-conditioners and refrigerators, evacuation of lamps and CRTs.
The vacuum pumps market in the Middle East and Africa is significantly gaining from the rising demand from process industries located in the region. Based on application range, the market was dominated by the low vacuum pressure range segment with a share of 44% in 2014. Growth witnessed by this segment is predominantly driven by the demand from the packaging and conveying industries. However, the market is witnessing rising demand for medium vacuum pressure pumps from petrochemical, pharmaceutical, chemicals, plastics, textile, food and beverages, and power industries. The segment is thus expected to report rapid growth during the forecast period.
Based on end-use segments, the oil and gas industry led the MEA vacuum pumps market in 2014, accounting for a share of 36% in the market. Besides this, small scale industries in the manufacturing sector of MEA and power and process industries are increasingly deploying vacuum technologies comprising of varied design and processes. This has been giving a major boost to the market for vacuum pumps in MEA.
The MEA vacuum pumps market was led by the GCC countries in 2014. GCC countries accounted for a share of almost 30% in the market in 2014. The strong industrial growth, coupled with the expanding manufacturing sector, has been boosting the vacuum pumps market across GCC countries. However, the growing share of the manufacturing sector in the GDP of GCC countries has indicated a paradigm shift from primary export products and the adoption of export diversification model. The market in Iran is therefore expected to surpass GCC countries during the forecast period.
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South Africa, countries located in North Africa, and rest of MEA will also exhibit lucrative prospects for the vacuum pumps market. To study the completion prevailing in the market, the report also profiles some of the leading companies operating therein. These include Pfeiffer Vacuum GmbH, Gardner Denver, Inc., Oerlikon Leybold Vacuum GmbH, ULVAC, Inc., Dekker Vacuum Technologies, Inc., and Sterling SIHI GmbH among others.