Press release
Companies In Vacuum Degreaser Market Resorting To Product Innovation To Stay Ahead In Game : Fact.MR
As per latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global vacuum degreaser market is anticipated to exceed a valuation of US$ 930 Mn by 2021, and expand at an impressive CAGR of more than 7% over the forecast period of 2021 to 2031.The market is in the growth phase of its lifecycle, and registered annual growth of 3% during 2016 - 2020. Fact.MR anticipates significant potential in the market, owing to factors such as rising automotive production and growing demand for clean mechanical products due to the impact of glued chemicals on them.
Prominent manufacturers of vacuum degreasers are operating aggressively and investing capital to strengthen their research & development infrastructure and sales and distribution networks globally. Companies are more leaned towards building partnerships, collaborations, and joint ventures to leverage technological advancements, which further aids in developing innovative products. It is been observed that the automotive sector is expected to steer the sales of vacuum degreasers over the coming years.
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Market Segments Covered in Vacuum Degreaser Industry Research
By Capacity
Up to 50 Kg Vacuum Degreasers
50 - 200 Kg Vacuum Degreasers
Above 200 Kg Vacuum Degreasers
By Application
Vacuum Degreasers for Aerospace
Vacuum Degreasers for Automotive
Vacuum Degreasers for Industrial Machining
Vacuum Degreasers for Casting & Metal Working
Vacuum Degreasers for Semiconductors & Electronics
Vacuum Degreasers for Medical
Others
By Design
Top Load Vacuum Degreasers
Front Load Vacuum Degreasers
By Operation
Automatic Vacuum Degreasers
Semi-automatic Vacuum Degreasers
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Key Takeaways from Market Study
Under application, the automotive sector is expected to remain the most attractive and is likely to witness an absolute dollar opportunity of US$ 317 Mn during 2021 - 2031.
Based on capacity, 50-200 kg vacuum degreasers are expected to be the most lucrative with BPS gain of 35 during the forecast period.
Based on design, demand for top load vacuum degreasers is expected to grow 2.1X over the next ten years.
Together, North America and Europe represented over 50% of overall market share in 2020.
The market in East Asia is expected to gain 184 BPS by 2031 and be valued at US$ 446 Mn.
Winning Strategy
Major companies in the market have been spending on product innovation, capacity expansion, and solidifying their network of sales and distribution. Emerging vacuum degreaser suppliers tend to produce advanced products that are relatively more ecological. Such improvements will drive the progression of the vacuum degreaser market over the decade.
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Competitive Landscape
Majority companies discussed in the report have focused on expansion, investments, acquisitions, delivery focus, portfolio expansion, and brand development.
Some of the key developments are:
In 2020, Nachi-Fujikoshi Corp. launched a new vacuum degreasing machine called Hi NVD-10. This newly launched product uses hydrocarbon solvents to achieve lower environmental impact and high-quality cleaning.
In 2020, Bel Air Finishing Supply Corporation partnered with Philips Federal to support the complete operational cell for post processing of vacuum degreasers.
In 2020, Ecoclean Machines Private Limited launched a new product called UCMSmartline vacuum degreaser. This newly launched product has multi-chamber immersion cleaning systems in which parts are inserted by a standard automatic transport system
In 2020, Bel Air Finishing Supply Corporation partnered with Boston Gear for the super polishing process of their tools by using vacuum degreasers.
In 2020, Emerson Electric Co. announced the acquisition of Progea Group. This acquisition will create new resources and capabilities to subsidize end to end software and hardware that is key to automation solutions by using an integrated package of IOT, visualization and controls
In 2020, Covid-19 led to cancellation of trade shows for marketing of the product, with the company launching a new product called VARIO digitally.
In 2019, the company expanded their sales network in China by partnering with Keweixin. This partnership will enable it to serve the demand in East Asia.
In 2019, Baron Blakeslee launched a new product, Baronette Vapor Degreaser, which comes with the capacity of 55 gallon drums. This degreaser has been designed to be affordable for small manufacturing companies, having small size; solvents like n-propyl bromide can be used.
In 2018, the company expanded its manufacturing sector to India to serve the South Asia region
Similarly, recent developments related to companies offering vacuum degreasers have been tracked by the team at Fact.MR, which are available in the full report.
Source - https://www.factmr.com/report/2533/vacuum-degreaser-market
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