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India's vacuum pump market is projected to grow due to government and corporate investments in key industries.
The "India Vacuum Pump Market" report from ResearchAndMarkets anticipates growth in the vacuum pump market, driven primarily by investments from the government and companies in the chemical, pharmaceutical, semiconductor, and electronics industries.
Government policy support for the chemical and pharmaceutical, oil and gas industries, along with continuous expansion of the automobile fleet, have contributed to the rapid growth of the vacuum pump market in recent years. The Indian government has also announced an investment of INR 1 lakh crores (USD 12.5 billion) for oil and gas projects, which is expected to fuel further growth in the vacuum pump market.
Wet vacuum pumps accounted for the majority of revenue share due to their low maintenance costs and affordability compared to dry vacuum pumps. Their applicability in the oil and gas and power generation industries is expected to maintain this trend. Dry vacuum pumps are also anticipated to experience growth.
Rotary vane vacuum pumps, known for their reliability and economic efficiency, generated a significant share of revenue and volume. These pumps are commonly used in the chemical and pharmaceutical sectors for processes such as crystallization, drying, distillation, and vacuum filtration. Demand from end-user industries, including semiconductors, solar, and chemicals, is expected to continue driving growth in the coming years.
The chemical and pharmaceutical industry was the largest end-user of vacuum pumps due to their crucial role in the production and packaging of drugs like tablets and capsules. The southern region of India accounted for the majority of revenue share in the vacuum pump market, as it is home to many pharmaceutical companies and food product and beverage manufacturers. This trend is anticipated to continue with a USD 1 billion investment from a semiconductor manufacturing company in Tamil Nadu, which is expected to increase vacuum pump demand in the region.