The circulating water baths market share is expected to increase by USD 22.20 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5%.
This circulating water baths market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers circulating water baths market segmentation by end-user (chemical industry, microbiology laboratories, and others) and geography (North America, Europe, Asia, and ROW). The circulating water baths market report also offers information on several market vendors, including AMETEK Inc., Boekel Scientific, Edvotek Inc., Grant Instruments (Cambridge) Ltd., IKA-Werke GmbH & CO. KG, JISICO Co. Ltd., JULABO GmbH, Peter Huber Kaltemaschinenbau AG, Polysciences Inc., and Thermo Fisher Scientific Inc. among others.
What will the Circulating Water Baths Market Size be During the Forecast Period?
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"Growth in the chemical industry in the US is augmenting demand for water baths for conducting experiments in the region. In 2019, the chemical industry accounted for nearly half of construction spending in the US manufacturing sector."
Circulating Water Baths Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and after post-COVID-19 era. The increased investments in R&D by vendors are notably driving the circulating water baths market growth, although factors such as the high cost of equipment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the circulating water baths industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Circulating Water Baths Market Driver
Increased investments in R&D by vendors is one of the key factors driving the growth of the global circulating water baths market. Global spending on R&D has grown consistently in the last few years. The number of research facilities is expected to grow in developed countries during the forecast years. Asian countries increased their spending on R&D by more than 50% as of 2020 to develop more technologically advanced products and manufacture products with the latest features. Emerging markets will continue to place emphasis on knowledge expansion and innovation, as well as focus on increased investments in R&D during the forecast period. In addition to that, vendors are also trying to upgrade their existing products with the latest technologies like automatic timers for efficient work scheduling and audible alarms to alert users if the temperature deviates from the defined range. All these added advantages have been incorporated into circulating water baths by vendors. Product innovation due to high investments in R&D by the vendors will drive the growth of this market during the forecast period.
Key Circulating Water Baths Market Trend
The flexibility of equipment will fuel the global circulating water baths market growth. Of late, laboratories have been demanding more flexibility in almost all laboratory products for better use of the equipment and to save on costs. The circulating water baths have been incorporated with features and accessories that improve the flexibility of these products allowing the same equipment to be used for several processes within the laboratory. The raw materials that are used are rust-resistant and can be used for longer periods, which, in turn, reduces the expenses of the user in changing the equipment. Moreover, The vendors are also trying to reduce the cost of operation and energy consumption, as the rate of energy consumption is high in the circulating water baths. However, with the increase in the adoption of automation in laboratories, greater flexibility of equipment will allow greater compatibility, which will lead to a better flow of processes by minimizing laboratory downtime. The flexibility in circulating water baths and the demand for the same will increase the sales of the product during the forecast period.
Key Circulating Water Baths Market Challenge
The high cost of equipment is the major challenge for the global circulating water baths market growth. The cost of a laboratory water bath is generally $380-$7,500, depending on the type of water bath and the manufacturer. A regular circulating water bath costs around $850. The charges for continual service and maintenance will further add to the total cost of ownership, making it a relatively large investment. Though the total cost of ownership of a water bath has reduced significantly over the past few years, the cost of owning a water bath will remain a challenge. The cost of energy that water baths use is relatively higher than average laboratory equipment of the same size. Thus, the high price may restrict the buyers in developing countries, which will, in turn, affect the revenue of the vendors. However, these above factors will hinder the global circulating water baths market growth during the forecast period.
This circulating water baths market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global circulating water baths market as a part of the global life sciences tools. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the circulating water baths market during the forecast period.
Market Overview
The parent market, global life science tools and services market covers products and companies engaged in R&D of a variety of product categories, including capital equipment, instruments, accessories, and consumables that are used for R&D on pharmaceuticals and biotechnology products and laboratory diagnosis of various diseases.
Who are the Major Circulating Water Baths Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- AMETEK Inc.
- Boekel Scientific
- Edvotek Inc.
- Grant Instruments (Cambridge) Ltd.
- IKA-Werke GmbH & CO. KG
- JISICO Co. Ltd.
- JULABO GmbH
- Peter Huber Kaltemaschinenbau AG
- Polysciences Inc.
- Thermo Fisher Scientific Inc.
This statistical study of the circulating water baths market encompasses successful business strategies deployed by the key vendors. The circulating water baths market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
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AMETEK Inc. - The company offers a wide range of water baths such as TC-150, TC-250, TC-351, TC-550, and TC-650.
To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The circulating water baths market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Circulating Water Baths Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the circulating water baths market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global life sciences tools includes the following core components:
- Inputs
- Production
- Distribution
- Marketing and sales
- Post-sales and services
- Industry innovations
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for the Circulating Water Baths Market?
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34% of the market’s growth will originate from North America during the forecast period. The US is the key market for circulating water baths in North America. Market growth in this region will be faster than the growth of the market in the European and ROW regions.
Increased investments in R&D by vendors will facilitate the radar simulator market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The recent outbreak of COVID-19 has had a widespread impact on North America as a whole, with the US witnessing the greatest number of cases globally as of April 2020. The outbreak of the deadly disease has had a devastating impact on North America, owing to which the government, along with various private organizations, is investing in R&D to find an effective vaccine against the disease, which will accelerate the growth of the target market in the region. The COVID-19 pandemic has led many government organizations in the region to declare a total lockdown to contain the spread of the disease. The lockdowns and restrictions due to COVID-19 have impacted the supply chains of the market, which reduced the growth of the circulating water baths market in North America. There are various factors that have been responsible for the recovery of the market from the impact of the pandemic, which will drive its growth during the forecast period; these include the entry of major vendors with advanced products and the availability of government funding.
What are the Revenue-generating End-user Segments in the Circulating Water Baths Market?
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The circulating water baths market share growth by the chemical industry segment will be significant during the forecast period. The chemical industries are increasing at a rapid pace in the US, Germany, the UK, India, China, Japan, Brazil, and Mexico. The growth rate of this market is expected to decrease owing to the introduction of bead baths and silicone baths.
This report provides an accurate prediction of the contribution of all the segments to the growth of the circulating water baths market size and actionable market insights on post COVID-19 impact on each segment.
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Circulating Water Baths Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
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Market growth 2021-2025 |
$ 22.20 million |
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Market structure |
Fragmented |
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YoY growth (%) |
4.65 |
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Regional analysis |
North America, Europe, Asia, and ROW |
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Performing market contribution |
North America at 34% |
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Key consumer countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
AMETEK Inc., Boekel Scientific, Edvotek Inc., Grant Instruments (Cambridge) Ltd., IKA-Werke GmbH & CO. KG, JISICO Co. Ltd., JULABO GmbH, Peter Huber Kaltemaschinenbau AG, Polysciences Inc., and Thermo Fisher Scientific Inc. |
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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, Market condition analysis for the forecast period |
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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. |
What are the Key Data Covered in this Circulating Water Baths Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive circulating water baths market growth during the next five years
- Precise estimation of the circulating water baths market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the circulating water baths industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of circulating water baths market vendors
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