The Growth of the Turbo Pump Industry

The turbomolecular pump market is expected to record a compound annual growth rate of 5.4%, and will be worth an estimated $1.5 billion by the year 2025. These estimates are not far-fetched as major turbo pump brands have experienced significant growth in the recent past. Turbopump dealers like Provac are on a growth trajectory. Since they deal with turbopumps from multiple manufacturers, their growth offers a realistic glimpse into the industry’s health. To learn more about it, do an online search for turbo pumps provac sales, and you will learn more about different manufacturers.

There are a number of factors behind the high growth of the turbopump industry. The first one is their use in flat panel displays. Over the last couple of years, the flat panel display (FDP) has been on a growth trajectory, driven by television and mobile phones. Since turbomolecular pumps are a vital component in FDPs, their demand is guaranteed to keep growing over time. Turbopumps are required for maintaining a vacuum and super-clean environment, required for flat display panels to work. This pretty much ties their growth to that of the television and mobile phone industries.

The turbopump market is also supported by the semiconductor industry. The chip market is huge since every smartphone, computer and pretty much every smart device on this planet needs a chip. The manufacture of these chips requires an ultra-vacuum and clean environment, and this is done with turbopumps. With the increased growth of the smartphone industry, the turbopump industry is also poised for growth. It’s one of the industries that will push the turbopump industry into a multi-billion industry in the next decade.

The industry is also supported by the increased adoption of turbomolecular pumps in the food processing industry. Though the food industry has been slow to adopt turbomolecular pumps, the industry has been slow to adopt it. That’s largely due to a fear of change in the industry. However, as industry players learn of the advantages of these pumps, adoption will catch up due to the benefits it stands to gain. For instance, with a turbo molecular pump, a food processing firm can significantly cut on energy costs. These pumps are also better at maintaining a vacuum environment, which is crucial in the food processing and packaging process.

Besides the advantages that come with turbomolecular pumps, manufacturers are aggressively pushing to drive the industry forward. For instance, mergers and acquisitions are growing in the turbopump business. These have helped them develop the necessary synergies required to grow the industry. In essence, the industry’s growth may even outpace analyst expectations of 5%. The demand is there, and the industry is taking measures aimed at improving its long-term growth, through investments in technology. As this technology becomes better and more widely recognized, the number of industries that use it will grow as well. It’s an industry that would interest investors that love an emerging industry that is still in the growth phase. It’s an industry that could offer superior returns in the next decade.

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