NEW YORK, Jan. 7, 2022 /PRNewswire/ -- Fume hood monitors Market Facts at a Glance-
NEW YORK, Jan. 7, 2022 /PRNewswire/ -- Fume hood monitors Market Facts at a Glance-
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According to the recent market study by Technavio, the Fume Hood Monitors Market Size is expected to increase by USD 16.03 million from 2020 to 2025, progressing at a CAGR of 2.29% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate, occupying 36% of the global market share. China is the key market for fume hood monitors in APAC. The market growth in this region will be faster than the growth of the market in other regions.
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Vendor Insights-
The fume hood monitors market is fragmented due to the presence of many vendors occupying the competitive landscape. Vendors are deploying several organic and inorganic growth strategies to compete in the market.
Bionics Scientific Technologies (P) Ltd.: The company offers Laboratory Fume Hood which is available in various sizes and dimensions to meet specific requirements of research.
Dwyer Instruments Inc.: The company offers Model 670 Fume hood monitor which senses airflow through the face of the fume hood.
ESCO Technologies Inc.: The company offers world-class laboratory fume hoods to provide maximum safety for a range of uses.
HEMCO Corp.: The company offers Flitered Fume hoods that are fully-featured hoods that require no ducting and contains contain acids, bases, and solvents.
Labconco Corp.: The company offers Tel VAV controls that are designed specifically to provide variable airflow volume and ensure the safety of users working with fume hoods and biological safety cabinets.
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Regional Market Outlook
The fume hood monitors market growth in APAC will be significant during the forecast period. The significant rise in R&D spending by pharmaceutical companies is driving the growth of the fume hood monitors market in APAC. In addition, the increase in research activities in major economies such as China, Japan, and South Korea will foster the growth of the regional market.
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Latest Drivers & Trends Driving the Market-
The pharmaceutical industry in India has been witnessing significant investments over the last few years. The industry in the country is expected to grow by three times over the next decade. This can be mainly attributed to the low cost of manufacturing in India. For instance, the cost of production of pharmaceutical products in India is about 55% lower than that in the US and is approximately half of Europe. Also, the emergence of India as a leading destination for medical tourism and low treatment costs have been increasing the demand for pharmaceutical products. All these factors are increasing the number of research activities, which is subsequently driving the demand for safety equipment such as fume hoods, thereby driving the market growth.
Laboratory operations involve the use of mechanical devices such as testing equipment and fume hoods. The use of such devices increases the power consumption by five times compared to the consumption of power in other buildings. Hence, vendors in the markets are focusing on adopting green initiatives to achieve sustainability. This trend is gaining momentum in the market and is expected to have a positive impact on the market's growth over the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
Fume Hood Monitors Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.29% |
Market growth 2021-2025 |
USD 16.03 million |
Market structure |
Fragmented |
YoY growth (%) |
2.52 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 36% |
Key consumer countries |
US, China, UK, Germany, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Bionics Scientific Technologies (P) Ltd., Dwyer Instruments Inc., ESCO Technologies Inc., HEMCO Corp., Labconco Corp., SbyD, Schneider Elektronik GmbH, Stericox Sterilizer Systems India, Temperature Electronics Ltd., and TSI Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, 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. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
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Website: www.technavio.com/
SOURCE Technavio
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