Asia-Pacific has become a hotspot due to high demand in semiconductor and coatings segments, finds Frost & Sullivan's Industrial Process Control team
LONDON, March 21, 2017 /PRNewswire/ -- A strong Internet of Things (IoT) wave is sweeping through the sensors and automation technologies market, opening up opportunities for turbomolecular pumps in the semiconductor processes segment. The escalating demand for sensors is propelling this market all over the world, but especially in Asia-Pacific, where mobile density is intensifying. While the top five companies share 78.2 percent of the global market, it is crucial for players to stay abreast of the mega trends, drivers and restraints of the market to compete effectively.
"Technology and design developments in the turbomolecular pumps market are dictated by the needs and trends in the end-user segments, particularly the semiconductor and analytical instruments segments," said Industrial Automation & Process Control Research Analyst Ticaram Ramakrishnan. "Consequently, pump manufacturers are constantly looking for opportunities to streamline businesses and redraw business models to reduce dependency on any particular market segment."
Global Turbomolecular Pumps Market, Forecast to 2022 is the new analysis from Frost & Sullivan's Industrial Automation & Process Control Growth Partnership Service programme. The insight reveals that technology innovations, to address the demanding requirements in semiconductor processes and analytical instruments end user segments, will be the key to turbomolecular pump manufacturers to stay competitive in the market. Asia-Pacific will continue to lead the market with 46.2 percent of the overall revenues due to rising demand from the semiconductor and coatings segment.
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Turbo pump manufacturers are making several technological improvements to their products due to the rising demand for flat panel displays, and the resulting demand for turbo pumps in the coatings segment. Meanwhile, the increasing focus on renewable sources of energy will create a sustainable market for turbo pumps in the photovoltaic segment.
"While both North America and Asia-Pacific continue to be investment hubs, the developments in the semiconductors and the coatings segments, mainly in China, Taiwan, Japan and South Korea, have established Asia-Pacific as the undisputed market leader," noted Ramakrishnan. "In due course, technological advancements in the mass spectrometry market as well as emerging applications in clinical analysis and applied markets will drive growth in developed regions such as the United States and Europe as well."
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Global Turbomolecular Pumps Market, Forecast to 2022
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SOURCE Frost & Sullivan