Oil and Gas Industry to Contribute Notably towards Growth in Dry Vacuum Pumps Market

Notable sales revenue is anticipated to be witnessed in the global dry vacuum market over the forecast period. As per TMRR, from 2019 to 2029, a notable compound annual growth rate will be noted in the market and that will pave way for profitable opportunities. Players operating the global dry vacuum pumps market will clamor to tap into these to improve standing in the market.

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Used extensively in a number of applications, the products are set to witness massive uptake in demand. Some of the uses are in chips, circuit boards, and a number of manufacturing equipment. Industries that are generating substantial demand in the market include oil and gas, pharmaceuticals, wood, pulp and paper, food and beverages, semiconductor and electronics, and chemicals.

The competitive landscape is intense and the vendor landscape of the global dry vacuum pumps market is slightly fragmented. Top players marking it include are Pfeiffer Vacuum GmbH, Ebara Corporation, Gardner Denver, Inc., Atlas Copco AB, Agilent Technologies, ULVAC, Busch, and Becker, among others. A string of measures are being noted in the vendor landscape. Some of these are organic while others are inorganic.

Region-wise, North America is a dominant market and the trend is expected to roll into the aforementioned period. Increasing demand in the electronics and semiconductors industry is set to drive the regional market forward. Presence of notable players is also expected to contribute positively to growth in the regional market. High disposable income is another factor that is facilitating higher demand in the electronics and semiconductors industry.

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Another interesting factor that is driving the market in the North American region on to an upward growth trajectory over the forecast period is increasing activity in the exploration and extraction of oil and natural gas. There is another industry that is set to drive it forward – pulp and paper industry.