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Global Vacuum Pumps Market Is Expected To Expand At A CAGR Of 7% From 2022 To 2032

Vacuum Pumps Market

The global vacuum pumps market is expected to reach US$ 1,415 Mn, expanding at a CAGR of 7% from 2022 to 2032, concludes a recently revamped Fact.MR study. Extensive applications such as conveying, assembly line cleaning, drying, evacuation, suction, and others related to the electronics and semiconductor industry are offering beneficial opportunities for vacuum pump manufacturers around the world.

From 2017 to 2021, the industry expanded at a CAGR of 5.2%. As the COVID-19 pandemic raged, prospects dipped significantly, as mandatory lockdowns led to shutdowns in the industrial manufacturing domain. Enforcement of social distancing measures led to a contraction of the manufacturing capacities of various industries, leading to a fall in demand. However, prospects began to elevate since 2021, as these restriction began to be lifted.

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Key Market Segments Covered in the Vacuum Pumps Industry Report

Competitive Landscape

The market is moderately fragmented in terms of the supply pie. Key players such as Atlas Copco, Gardner Denver, and Edwards (Atlas Copco) hold a majority of the market share and are key price controllers in the vacuum pump landscape.

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