Rockville, April 25, 2023 (GLOBE NEWSWIRE) -- On the basis of Fact.MR, a market research and competitive intelligence provider, the global vacuum degreaser market is estimated to be valued at US$ 1,047.0 million in 2023 and is anticipated to grow at a CAGR of 5.4% during the forecast period of 2023-2033.
Degreasers are used to remove oil, grease, and other impurities accumulated over the parts of machines or equipment to enhance the overall performance of the machine. Over the years and with technology advancements degreasers witness a lot of changes, which also increases the demand for the degreasers across various end-use verticals.
Vacuum degreasers are gaining traction, as the use of a vacuum reduces the amount of heat and water required to clean any given parts of a machine or equipment. It also ensures sterilization of the equipment and proper cleaning. Such factors surge the demand for vacuum degreasers across automotive, semiconductor, medicals, and others.
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| Vacuum Degreaser Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2033 |
| Growth momentum & CAGR | Accelerate at a CAGR of 5.4% |
| Market growth 2023-2033 | US$ 1,771.6 Million |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Baron Blakeslee, Ecoclean Machines Private Limited, Emerson Electric Co., HEMO GmbH, IHI Corporation, Koyo Thermo Systems Co. Ltd., Ultronix Inc |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
On the back of the aforementioned factors, it is concluded that the use of vacuum degreasers over conventional ones, as vacuum degreaser, offers various benefits such as a reduction in overall vacuum degreaser operational cost coupled with favorable outcomes when used in industrial settings to degrease equipment. This, in turn, drives the growth of the vacuum degreaser market in a long run.
Key Takeaways from Market Study
- The global vacuum degreaser market is projected to grow at 5.4% CAGR and reach US$ 1,771.6 million by 2033
- East Asia is anticipated to hold the market with a 26.4% market share in 2023
- Europe is estimated to dominate the market with a 31.1% market share in 2023
- Adoption of vacuum degreasers above 200 kg capacity to increase at the highest pace
- Prominent players operating in the vacuum degreaser market are Baron Blakeslee, Emerson Electric Co., EVT Eiberger Verfahrenstechnik GmbH, HEMO GmbH, and IHI Corporation
“Growing Demand for the Solutions Which Enhances Equipment Performance by Degreasing to Drive Vacuum Degreaser Market” says a Fact.MR analyst.
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Market Growth Stratagems
Market players are focusing on investing in research and development and advancing technology to upgrade vacuum degreasers, in order to gain high-profit margins and market share. Further, rental services and customization to play a crucial role in curbing the demand pool. Pricing remains a go-to strategy for market players to remain competitive in the market.
Technological advancements coupled with the adoption of low-VOC solvents for use during vacuum degreasing are likely to provide up-hand to market players. Long-term trade relations with suppliers and well-established distributors enable market titans to survive during unfavorable trade situations.
Segmentation of Vacuum Degreaser Industry Research
- By Capacity:
- Up to 50 Kg
- 50 - 200 Kg
- Above 200 Kg
- By Application:
- Aerospace
- Automotive
- Industrial Machining
- Casting & Metal Working
- Semiconductors & Electronics
- Medical
- Others
- By Design:
- Top Load
- Front Load
- By Operation:
- Automatic
- Semi-automatic
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the vacuum degreaser market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of capacity (up to 50 kg, 50 - 200 kg, and above 200 kg), application (aerospace, automotive, industrial machining, casting & metal working, semiconductors & electronics, medical, and others), design (top load and front load), operation (automatic and semi-automatic) and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
Key Questions Covered in the Vacuum Degreaser Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Vacuum Degreaser sales grow until 2033?
- Which are the factors hampering the Vacuum Degreaser demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Vacuum Degreaser Market during the forecast period?
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