The sales of vacuum pumps are rising sharply in China. This is fueling the expansion of the Chinese vacuum pump market. The market value is predicted to surge from $1.2 billion in 2018 to $1.9 billion by 2024. Furthermore, the market will advance at a CAGR of 8.7% between 2019 and 2024. Positive displacement, regenerative, momentum transfer, entrapment, steam ejector, and venturi are the most widely used types of vacuum pumps in the country.
Out of these, the usage of the positive displacement vacuum pumps was found to be the highest in the country in the years gone by. This was because of the huge requirement for these vacuum pumps in various end-use industries such as chemical & pharmaceutical and food & beverage (F&B). The food & beverage industry in the country is predicted to demonstrate huge expansion in the future, which will, in turn, propel the sales of these vacuum pumps.
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According to the estimates of P&S Intelligence, a market research firm based in India, the Chinese vacuum pump market will register the fastest growth in the central part of the country in the coming years. This will be because of the growth in the manufacturing sector in this region, on account of the huge investments being in manufacturing activities under the ‘Made in China 2025’ initiative of the Chinese government.
Hence, it can be said with full surety that the sales of vacuum pumps will shoot-up in China in the upcoming years, mainly because of their mushrooming requirement in the chemical and pharmaceutical and food and beverage industries and the expansion of these industries in the country.
Market Street 