Press release
MEA Vacuum Pumps Market Boosted by Resurging Economy, Market to Exhibit 11.10% CAGR by 2025
Key factors driving the growth of the vacuum pumps market include growth in the demand for energy and resurgence of large project activity after economic slowdown. Additionally, process industries have increased the popularity of vacuum pumps. With the advancement of technology, vacuum pumps offer a viable cost-effective solution to achieve effective and efficient vacuum-process-based applications in various industrial sectors.
The major exporters of vacuum technology, inclusive of vacuum pumps, are Germany, the U.S., and Italy in the financial year ending 2014. MEA forms one of the major export destinations for the aforementioned exporting countries, where vacuum pumps are exported to GCC countries, Iraq, and Iran for process-industry-based applications. Vacuum pump manufacturers operating out of subsidiaries situated in India, and Japan-based vacuum manufacturers are leaders in vacuum pump exports to countries within GCC, such as the UAE, Kuwait, and Qatar. By 2030, India is expected to become the UAE’s top export destination, surpassing the current export partner, Japan.
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In 2014, GCC countries accounted for 30% of the total MEA vacuum pumps market. The region is characterized by accelerated development in the fields of construction, industrial and agricultural infrastructure apart from petrochemicals, and chemicals industries. The development of non-oil-&-gas-based industries, such as food & beverages, textile, and power are driving the demand for the vacuum pumps market. The growth in the manufacturing sector’s share of the real GDP of the GCC countries has indicated that the region is moving away from primary products export and adopting an export diversification model.
By region, the GCC was one of the largest contributors to the MEA vacuum pumps market in terms of revenue in 2014 on account of large demand from SME manufacturing and industrial enterprises and the presence of leading oil & gas producing companies deploying vacuum pumps in this region. According to a report published by the International Monetary Fund (IMF) in December 2014, Bahrain and Saudi Arabia were leading the composition of manufacturing sector to the real GDP with 13% and 11%, respectively. Meanwhile, Oman, Qatar, the UAE, and Kuwait recorded 6%, 3%, 9.5%, and 2%, respectively. Government-funded capital projects and infrastructure development activities in the utilities and construction sector are also driving the demand for vacuum pumps. The region is also investing in water resource projects, such as the building of desalination stations, recycling of sewage water, the construction of dams for reserving surface water, and increasing the utilization of underground water resources.
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This research study on the MEA vacuum pumps market provides a detailed analysis of types of application range wherein vacuum pumps are designed as per the operating pressure ranges. Different end-use applications are categorized on the basis of the pressure range they are operating in. The report offers an in-depth analysis of various factors such as market drivers, restraints, and growth opportunities affecting the market dynamics. These factors enable the analysis of various trends that would affect the market during the forecast period from 2015 to 2025. The report includes a comprehensive coverage of PESTLE, BCG Matrix, Industry analysis and upstream and downstream materials analysis influencing the vacuum pumps market. The market positioning analysis of key vacuum pump manufacturers throws light on the prevalent competition in this market.
Based on type of end-use application, the MEA vacuum pumps market has been segmented into Oil & Gas, Industrial and Manufacturing, Power, Chemical Processing, Semiconductor & Electronics and others. Based on factors such as pressure range, type of vacuum pump, customers/companies choose a best-fit solution to address their requirements. Based on product type, the vacuum pump market has been classified into entrapment and gas transfer vacuum pumps.
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