LONDON--(BUSINESS WIRE)--The global laboratory vacuum pumps market 2019-2023 is expected to post a CAGR of more than 4% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is increasing initiatives by market vendors. The stakeholders of the market are organizing workshops and seminars to increase awareness about newer laboratory vacuum pumps. Workshops are being conducted globally to discuss and spread awareness regarding the efficiency levels of laboratory vacuum pumps. The increase in workshops will transpire to increased awareness about laboratory vacuum pumps and contribute to higher market sales. This trend is likely to continue and positively impact the global laboratory vacuum pumps market in the future.
This market research report on the global laboratory vacuum pumps market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increased application in laboratories and semiconductor processing as one of the key emerging trends in the global laboratory vacuum pumps market:
Global laboratory vacuum pumps market: Increased application in laboratories and semiconductor processing
The use of laboratory vacuum pumps is increasing to optimize performance across the range of applications, from mass spectroscopy to filtering, drying, degassing, distillation, gel dryers, and evaporation. Vacuum pumps are known to be effective tools in a laboratory, which helps in decreasing the filtration times through high-power vacuum suction. To support the numerous applications, lightweight pumps are designed to offer easy maneuverability. This has further resulted in high flow rates, thereby increasing pumping speeds and reducing operation times.
“For chemical vapor deposition, the dry pump is used to handle the generation of powder as a by-product from the processes. The pump is designed to handle the powder without seizing. Semiconductor manufacturing makes use of laboratory vacuum pumps for gas abatement in a PVD process tool, which also includes atomic layer deposition (ALD) or CVD chambers. Similarly, diffusion, epitaxy, and ALD processes form an essential part of advanced semiconductor devices. With the rising applications in the semiconductor industry, the adoption of laboratory vacuum pumps will increase during the forecast period,” says a senior analyst at Technavio.
Global laboratory vacuum pumps market: Segmentation analysis
This market research report segments the global laboratory vacuum pumps market by product (dry vacuum pumps and rotary vane pumps) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018 with a market share of more than 47%, followed by EMEA and APAC respectively. The Americas dominates the market owning to early product penetration in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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