Big Boom In Vacuum Gauges Market Growth To Be Driven By The Increasing Measuring Pressure and Measuring Vacuum Activities Across The Globe
Pune, Maharashtra, November 15, 2019 (Wired Release) Prudour Pvt. Ltd. The global vacuum gauges market is targeted to be projected to be US$ 417 Mn in 2018 to reach US$ 765.9 Mn by 2028 at CAGR of 6.3%
A vacuum gauge is a device that is used to measure pressures that are below 1atm. It measures pressure from absolute zero value, unlike pressure gauges which measure from standard atmospheric pressure. Vacuum gauges are classified according to its range of measuring vacuum pressure. These are mainly used for scientific research as well as process engineering applications. Due to its vast usage area, demand for vacuum gauges is on the rise, which is anticipated to enlarge the market size. Vacuum gauges are widely used where usually vacuum pumps are deployed, to create required levels of vacuum which is predicted to drive the market forward.
Industrialisation in developing nations – rapid industrialization in the APAC region is expected to aid in the growth of the market. Industrialization in developing nations is expected to increase the demand for various industrial products.
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Increasing investments in research and development huge amount of investments in research and development by the market players to go ahead of competitors is expected to help the market growth.
Increasing demand for digital vacuum gauge digital vacuum provides an accurate reading, which is anticipated to widen the market scope.
However, low-profit margins in the B2B market is major factor expected to hinder the market growth. Small orders in B2b market could restrict the market progress. Also, the global economic recession could affect the industrial growth in developing nation, which could obstruct the market growth.
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Global vacuum gauge market is segmented on the basis of product type, end-user and application. On the basis of product type, the market is segmented into mechanical type, thermal type, ionization type and radiation vacuum gauge. The thermal type segment accounts for the majority share in the global vacuum gauge market and is expected to register the highest growth rate over the forecast period. On the basis of end-users, the market is segmented into research and development, industrial and others. The industrial segment accounts for the majority share in the global vacuum gauge market. On the basis of application, the market is segmented into measuring pressure and measuring vacuum. Measuring vacuum accounts for the majority share in the global vacuum gauge market.
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On the basis of region, the market is segmented into North America, Europe, China, Japan, MEA, India, South America and Rest of the World. Europe accounts for the majority of share in the global vacuum gauges market, followed by North America. An emerging economy such as China is expected to register the highest growth rate over the forecast period, owing to rapid industrialization. Countries and regions such as Japan, Southeast Asia and the rest of the world are expected to register stable growth over the forecast period.
The research report on the global vacuum gauges market includes profiles of some major companies such as Agilent Technologies, Inc., Teledyne Technologies Inc., Atlas Copco AB, Testo SE and Co. KGaA, MKS Instruments, Inc. and ULVAC, Inc.