DUBLIN–(BUSINESS WIRE)–The “India Vacuum Pump Market | Trends, Value, Revenue, Outlook, Forecast, Size, Analysis, Growth, Industry, Share, Segmentation & COVID-19 IMPACT: Market Forecast By Lubrication, By Technology, By Product Type, By End-Users And Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
The India Vacuum Pump Market is anticipated to grow during the forecast period on the back of investments by the government and companies majorly in the chemical, pharmaceutical, semiconductor & electronics industries.
In 2021, the government introduced the Production Linked Incentive scheme “National Programme on Advanced Chemistry Cell (ACC) Battery Storage” for manufacturing ACC batteries in India along with the promotion of electric vehicles, with an outlay of INR 18,100 crores (USD 2.3 Billion).
Additionally, the market was impacted by COVID-19 and experienced a downshift in the first two quarters of FY 2020-21 as the government imposed a nationwide lockdown which halted trading activities and foreign trade as a result import of vacuum pumps was affected.
However, as the lockdown measures were lifted by the government, the market bounced back in the second half of the year and witnessed rapid growth on account of an increase in demand for vacuum pumps in key sectors.
According to the publisher, the India Vacuum Pump Market revenue is projected to grow at a CAGR of 15.5% from 2022-2028. India Vacuum Pump Market witnessed rapid growth during past years owing to strong policy support from the government in the chemical & pharmaceutical, oil & gas industry and continuous expansion of the automobile fleet.
In addition, the Indian government had announced an investment of INR 1 lakh crores (USD 12.5 Billion) for oil & gas projects. The rising investment in key application industries would further fuel the India vacuum pump market growth in the forthcoming period.
The Vacuum Pump Market in India has been rising effectively and the future of the is very promising. This sector in India is one of the most vital parts of the Asia Pacific Vacuum Pump Market.
Market by Lubrication Types
In 2021 By lubrication types, Wet vacuum pumps accounted for the majority of revenue share owing to their low maintenance cost and affordability compared to dry vacuum pumps. A similar trend is expected in the forthcoming years on the back of their applicability in the oil & gas, and power generation industry. Dry vacuum pumps are also anticipated to grow.
Market by Types
Rotary vane acquired a significant chunk of revenues and volume in the India vacuum pump market by types in 2021, owing to its timeless operations, reliability, and economic efficiency. Further, rotary vane vacuum pumps are widely used in crystallization, drying, distillation, and vacuum filtration in the chemical & pharmaceutical sector. A similar drift is anticipated in the upcoming years on the back of considerable demand from various end-user industries such as semiconductors, solar, and chemical industries.
Market by End Users
The Chemical & Pharmaceutical industry garnered significant market revenue and volume share in 2021 owing to the broad applicability of vacuum pumps as they are an essential part of the production and packaging of drugs such as tablets and capsules. The same segment will continue to dominate the India Vacuum Pump Industry.
Market by Regions
In 2021, Southern region acquired the majority of revenue share in India vacuum pumps market as majority of pharmaceuticals companies are situated in south India, for instance, Telangana and Andhra Pradesh have the most pharma manufacturing in the country. Furthermore, South India has the highest food products and beverages manufacturing output. A similar trend is anticipated to continue in the coming years, with USD 1 billion investment by the semiconductor manufacturing company in Tamil Nadu, the demand for vacuum pumps from the southern region is expected to rise.
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Lubrication Types
By Types
By End Users
By Regions
Key Topics Covered:
1. Executive Summary
2. Introduction
3. India Vacuum Pump Market Overview
4. Impact Analysis of COVID-19 on India Vacuum Pump Market
5. India Vacuum Pump Market Dynamics
6. India Vacuum Pump Market Trends & Evolution
7. India Vacuum Pump Market Overview, By Lubrication Types
8. India Vacuum Pump Market Overview, By Types
9. India Vacuum Pump Market Overview, By End-Users
10. India Vacuum Pump Market Overview, By Regions
11. India Vacuum Pump Market Overview, By End Users & By Types
12. India Vacuum Pump Market – Import and Export Statistics, 2021
13. India Vacuum Pump Market Opportunity Assessment
14. India Vacuum Pump Market – Competitive Landscape
15. Company Profiles
16. Key Strategic Recommendations
17. Key Projects and Potential Clients
18. Disclaimer
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/vkhfq6
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