Asia Pacific Vacuum Pumps Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Asia Pacific Vacuum Pump market is expected to register a CAGR of 8.2% during the forecast period. In recent years, there has been a significant rise in the number of small-scale vacuum pump manufacturers opening up shops in developing nations as they collaborate with OEMs from other countries to produce inexpensive pumps for use in end-user sectors. Since vacuum pumps are already a standard component of production machinery in the majority of end-user verticals, there is a far bigger demand for retrofitting than for new installations.
Key HighlightsThe Asia Pacific vacuum pump market is moderately fragmented due to the presence of prominent global and local players. Also, global investment in R&D in power generation infrastructure and facility advancements in oil and gas are the essential drivers that are giving intense rivalry among competitors. Key players are Agilent Technologies Inc., Atlas Copco Group, Flowserve Corporation, etc.
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