Wet vacuum pump accounted obtained highest revenue share in the India Vacuum Pump Market – 6Wresearch
Wet vacuum pumps dominated the Vacuum Pump Market in India on account of their low maintenance cost and affordability compared to dry vacuum pumps. This segment is anticipated to grow in the forthcoming years due to the back of their applicability in the oil & gas, as well as power generation sector. The sector in the country has been gaining continuous growth which is making it a vital sector in the country. Dry vacuum pumps are also likely to grow in the market.
According to 6Wresearch, the India Vacuum Pump Market revenue is projected to grow at a CAGR of 15.5% from 2022-2028. Vacuum Pump Market in India witnessed rapid growth during the past years owing to strong policy support from the government in the chemical & pharmaceutical, oil & gas sector and constant expansion of the automobile fleet. The rising investment in key application industries would further fuel the India vacuum pump market growth in the forthcoming period. The sector is one of the most vital sectors in the country since it has been attaining growth. The sector is continuously progressing which shows the future of the India Vacuum Pump Industry is bright.
According to Ravi Bhandari, Research Head, 6Wresearch, Southern region acquired the majority of revenue share in India vacuum pumps market as majority of pharmaceuticals companies are situated in south India. 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
The Chemical & Pharmaceutical industry would show the highest growth, owing to the COVID-19 pandemic, India has seen a huge amount of capital invested in the pharmaceutical industry and it is expected to rise further in the forecast period owing to government schemes such as Strengthening Pharmaceuticals Industry' (SPI), Pharmaceutical Technology Upgradation Assistance Scheme and Assistance to Pharma Industries for Common Facilities Scheme.
The India Vacuum Pumps Market (2022-2028)” report provides an in-depth analysis with 38 figures and 31 tables, covered in 105 pages. The report on India Vacuum Pump Market comprehensively covers the industry by lubrication types, types, end users and regions. The report provides a detailed as well as unbiased analysis of the on-going drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per to the latest and future market dynamics.
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