The fume hood monitors market share is expected to increase by USD 16.03 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 2.29%.
This fume hood monitors 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 fume hood monitors market segmentations by type (ducted fume hoods and ductless fume hoods), application (scientific research and development, diagnostic and medical laboratories, manufacturing industry, scientific and economic consulting, and laboratory testing services), and geography (APAC, North America, Europe, MEA, and South America). The fume hood monitors market report also offers information on several market vendors, including 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. among others.
What will the Fume Hood Monitors Market Size be During the Forecast Period?
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Fume Hood Monitors Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growing pharmaceutical investments in India are notably driving the fume hood monitors market growth, although factors such as adoption of green chemistry techniques may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the fume hood monitors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Fume Hood Monitors Market Driver
One of the key factors driving the fume hood monitors market growth is growing pharmaceutical investments in India. The Indian pharmaceutical industry is one of the largest markets in the global pharma industry. The biotechnology industry of India comprises biopharmaceuticals, bioagriculture, bioservices, bioinformatics, and bioindustry. The industry in the country is further expected to grow by over three times in the next decade. The Goods and Service Tax implemented by the Indian government is expected to favor the pharmaceutical industry. This is expected to facilitate tax-neutral interstate transactions happening between dealers. Also, this will significantly help in increasing focus on regional hubs, thereby reducing dependency on multiple states. These aspects indicate that the Indian pharmaceutical industry will witness an increase in the development of new products as well as research. The government's support, along with its focus on drug development, will call in for more research activities in India, thereby driving the market for safety equipment such as fume hoods and subsequently driving the demand for fume hood monitors.
Key Fume Hood Monitors Market Trend
Green and sustainability initiative from fume hood manufacturers and research centers are the major trend influencing the fume hood monitors market growth. The incorporation of sustainable behavior by research institutes and centers has been in trend and is expected to have a positive impact on the environment and society. Laboratories and research centers demand high energy and resources, owing to which they become important targets for green and sustainability initiatives. Lab space commencing operations using mechanical devices such as testing equipment and fume hoods consume about five folds of energy compared with other buildings on the campus. Fume hood manufacturer Labconco has actively participated in green initiatives. The three major product lines, such as biosafety cabinets, fume hoods, and glassware washers of the company, have contributed significantly toward the LEED credits developed by the USGBC. Such initiatives and efforts by manufacturers and research centers show their dedication toward environmental-friendly acts and encourage related sectors to actively participate as well in the same. Therefore, this trend of green and sustainability initiatives that are more focused on societal and environmental betterment will drive the market for fume hoods during the forecast period, eventually creating the demand for fume hood monitors as well.
Key Fume Hood Monitors Market Challenge
Adoption of green chemistry techniques is one of the key challenges hindering the fume hood monitors market growth. Green chemistry or sustainable chemistry is a field of chemical engineering and chemistry that is focused on developing processes and products that reduce the generation and use of hazardous substances. Green chemistry reduces the reliance on fume hoods. The prime focus of green chemistry is on technological approaches that prevent pollution and reduce the consumption of non-renewable resources. The major objective of all the 12 principles of green chemistry is to eliminate the waste generated while manufacturing chemicals and similar products. For this reason, green chemistry provides a complete framework for learning green chemistry and improving products, materials, systems, and processes. The development of new products and processes for performing experiments and manufacturing end-products using green chemistry will result in a decline in demand for fume hoods, thereby having a negative impact on the fume hood monitors market.
This fume hood monitors 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 fume hood monitors market as a part of the global industrial machinery market. 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 fume hood monitors market during the forecast period.
Who are the Major Fume Hood Monitors Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- 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.
- TSI Inc.
This statistical study of the fume hood monitors market encompasses successful business strategies deployed by the key vendors. The fume hood monitors market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
Product Insights and News
- 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.
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 fume hood monitors 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.
Fume Hood Monitors Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the fume hood monitors 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 report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Fume Hood Monitors Market?
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36% of the market’s growth will originate from APAC during the forecast period. China is a key market for fume hood monitors in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
The significant increase in R&D spending will facilitate the fume hood monitors market growth in APAC 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 outbreak of COVID-19 in 2020 severely affected several countries in the region, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines. Stringent lockdowns were imposed to prevent the community transmission of the disease. As a result, various companies and manufacturing units experienced production scarcity, which, in turn, hampered the growth of the regional market in 2020. However, factors such as a rise in the pharmaceutical research for COVID-19 vaccine development and the resumption of industrial activities at the end of 2020 led to a rise in the regional demand for fume hood monitors.
What are the Revenue-generating Type Segments in the Fume Hood Monitors Market?
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The fume hood monitors market share growth by the ducted fume hoods segment will be significant during the forecast period. Ducted fume hoods provide rigorous protection to the user by ventilating fumes outside the facility. The market is expected to grow during the forecast period due to continuous innovations in product features and the need to provide a safe working environment. The ducted fume hood monitors segment has a larger market share compared with the ductless fume hood monitors segment due to the use of ducted fume hoods in various industries such as energy and bioscience.
This report provides an accurate prediction of the contribution of all the segments to the growth of the fume hood monitors market size and actionable market insights on post COVID-19 impact on each segment.
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Fume Hood Monitors 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 2.29% |
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Market growth 2021-2025 |
$ 16.03 million |
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Market structure |
Fragmented |
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YoY growth (%) |
2.52 |
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Regional analysis |
APAC, North America, Europe, MEA, and South America |
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Performing market contribution |
APAC at 36% |
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Key consumer countries |
US, China, UK, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key 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. |
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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 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 Fume Hood Monitors Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive fume hood monitors market growth during the next five years
- Precise estimation of the fume hood monitors market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the fume hood monitors industry across APAC, North America, Europe, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of fume hood monitors market vendors
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