Global Laboratory Temperature Control Products Market 2018-2022

The global laboratory temperature control products market is projected to grow to more than USD 1.4 billion by 2022, with new opportunities developing around the world. The products in this market include not only items that help control temperature of chemicals, but also those aimed at maintaining the integrity of samples and reagents. This study provides an in-depth analysis of the market by product type (baths, circulators, chillers, and incubators), and by region (the Americas, EMEA, and APAC). It also examines the competitive landscape and key market players like Agilent Technologies, Corning, and Grant Instruments.

Growing demand for quality control is a key factor driving market growth

Technavio’s analysts have identified the increased demand for quality control as a major factor that will drive this market during the forecast period. As lack of quality control can potentially lead to unreliable test results, there is greater demand for the laboratory temperature monitoring system which will fuel the growth of the market. Growing adoption of laboratory monitoring system by reputed companies across the world is likely to further drive demand for laboratory temperature control products. These driving factors are part of the reason why the market is expected to grow at a CAGR of above 5%. For a complete list of drivers influencing the market’s growth, purchase Technavio’s full report.

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Agilent Technologies, Corning, and Grant Instruments are among the leading vendors in the laboratory temperature control products market

The global laboratory temperature control products market is growing moderately fragmented with many international and regional companies that offer products for the laboratory temperature monitoring system, and more. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this laboratory temperature control products industry analysis report will aid clients to identify new opportunities and design innovative strategies for growth.

The report offers a complete analysis of a number of companies, including:

• Agilent Technologies
• Corning
• Grant Instruments
• IKA
• Julabo
• Lauda Brinkmann
• Thermo Fisher Scientific

The Americas will be the primary driver of growth during the forecast period

Technavio’s market research report covers the following regions:

• Americas
• EMEA
• APAC

More than 39% of the market’s incremental growth is expected to come from the Americas over the next five years. The Americas is expected to hold the largest market share during the period of forecast, however, APAC will witness the highest rate of growth in the market. Many companies across the globe are adopting laboratory monitoring system to maintain their reputation and deliver accurate test results.

Incubators lead the market

The global laboratory temperature control products market can be divided into 4 product categories:

• Incubators
• Baths
• Circulators
• Chillers

In 2017, the incubators segment accounted for the largest share of the market, contributing 41% to it. Baths and circulators segments followed with a market share of over 23% and 22% respectively. The remaining market share of almost 13% was helped by the chillers segment. This report also examines the contributions of the other product segments to the growth of the market and offers predictions for their future performance.

Key highlights of the global laboratory temperature control products market for the forecast years 2018-2022:

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the laboratory temperature control products market during the next five years
• Precise estimation of the laboratory temperature control products market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• Growth of the laboratory temperature control products industry across various geographies such as the Americas, EMEA, and APAC
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive information about factors that will challenge the growth of laboratory temperature control products companies

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This market research report analyzes the market outlook and provides a list of key trends, drivers, and challenges that are anticipated to impact the global laboratory temperature control products market and its stakeholders over the forecast years. Market research analysts at Technavio have also considered how the performance of other related markets in the vertical will impact the size of this market until 2022.

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