Vacuum Pump Market to Witness Steady Growth

Increasing demand for 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. 

The semiconductor industry has witnessed robust demand for use in electronics such as smartphones and application in Internet of Things and cloud computing, largely driven by growth in emerging technologies such as AI in products as well growth in automotive and industrial electronics. Furthermore, integration of semiconductors in 5G-enabled devices and network connection levers the growth of vacuum pumps in the processing of integrated circuits and boards. 

As per an ESOMAR-certified market research and consulting firm’s report, the vacuum pump market is anticipated to surpass a valuation of US$ 640 Mn in 2020, and is projected to expand at a CAGR of more than 6% through 2030. During the last half-decade, the market has witnessed an affirmative shift from Europe to East Asia, due to increased research & development in the semiconductor industry. Presence of key players such as Toshiba, Sony, and Samsung in East Asia’s semiconductor industry sums up the elevating demand for vacuum pumps in the region. 

Courtesy of Fact.MR.
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