Dublin, Aug. 23, 2021 (GLOBE NEWSWIRE) -- The "Laboratory Refrigerators and Ovens - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Laboratory Refrigerators and Ovens Market to Reach $1.6 Billion by 2027
Amid the COVID-19 crisis, the global market for Laboratory Refrigerators and Ovens estimated at US$1.2 Billion in the year 2020, is projected to reach a revised size of US$1.6 Billion by 2027, growing at a CAGR of 4.6% over the analysis period 2020-2027.
General Purpose Laboratory Refrigerator, one of the segments analyzed in the report, is projected to record a 5.4% CAGR and reach US$492.3 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sub-Zero Refrigerator segment is readjusted to a revised 5.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $348.2 Million, While China is Forecast to Grow at 4.3% CAGR
The Laboratory Refrigerators and Ovens market in the U.S. is estimated at US$348.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$286.2 Million by the year 2027 trailing a CAGR of 4.3% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 3.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
Walk-In Refrigerator Segment to Record 3% CAGR
In the global Walk-In Refrigerator segment, USA, Canada, Japan, China and Europe will drive the 3.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$35.6 Million in the year 2020 will reach a projected size of US$44.2 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$180 Million by the year 2027.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Refrigeration - Indispensable in Clinical & Biological Research Fields
- Recent Market Activity
- Market Outlook
- Life Science Sector - A Major Growth Driver
- Rising R&D Spend Supports Demand for Lab Equipment
- World's Aging Population Drives Demand for Laboratory Refrigerators and Ovens
- Demand Spikes from Food Testing Labs
- Growing Demand for Subcontracting Private Laboratories
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS (Total 81 Featured)
- AGA Marvel (USA)
- Azbil Telstar, S.L. (Spain)
- Carbolite GERO Limited (UK)
- Chart Industries, Inc. (USA)
- Cole-Parmer Instrument Company (USA)
- Eppendorf AG (Germany)
- Helmer Scientific (USA)
- Haier Biomedical (China)
- Labcold Ltd. (UK)
- NuAire Inc. (USA)
- Panasonic Healthcare Holdings Co., Ltd. (Japan)
- Philipp Kirsch GmbH (Germany)
- Sheldon Manufacturing, Inc. (USA)
- Thermo Fisher Scientific, Inc. (USA)
- Worthington Industries (USA)
3. MARKET TRENDS & DRIVERS
- Factors Influencing Choice of Laboratory Refrigerators and Freezers
- Energy Efficiency Comes to the Fore - For Buyers and Manufacturers
- Hydrocarbon Freezers: The Latest Trend in the Global Laboratory Freezers Market
- Technological Advances Putting the Laboratory Refrigerators and Freezers Market in Overdrive
- Development of Alternative Refrigerants to Take Centre Stage in Future
- Price Pressures Haunt Laboratory Refrigerators and Freezers Market
- Advanced Refrigerators Allow Remote Allocation
- Rapidly Expanding Blood Banking Market Drives Laboratory Refrigerators Market
- Demand for RFID-Enabled Blood Freezers and Refrigerators to Rise Rapidly
- Supply Concerns Drive Technological Developments in Blood Bank Refrigerators and Freezers
- New Models of Ultra-Low Temperature Freezers Foray into the Market
- Growing Prominence of Laboratory Ovens
- Energy Efficiency - Order of the Day
- Growing Product Options Drive Growth
4. GLOBAL MARKET PERSPECTIVE
- World 15-Year Perspective for Laboratory Refrigerators and Ovens by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2012, 2020 & 2027
- World 15-Year Perspective for General Purpose Laboratory Refrigerator by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for Sub-Zero Refrigerator by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for Walk-In Refrigerator by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for Explosion Proof Refrigerator by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for Portable Refrigerator by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for General Purpose Laboratory Freezer by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for Ultra Low Temperature Freezer by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for Explosion Proof Freezer by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for General Purpose Laboratory Oven by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for Vacuum Oven by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/7apltp
