In the past few years, fume hoods have been used rapidly to protect workers from harmful gases and particles. Fume hoods are ubiquitously used in pharmaceutical and biotechnology facilities, industrial shops, medical testing labs and private & university research labs and therefore, due to this factor, the fume hoods market is projected to witness robust growth during the forecast period.
In the past few years, fume hoods have been used rapidly to protect workers from harmful gases and particles. Fume hoods are ubiquitously used in pharmaceutical and biotechnology facilities, industrial shops, medical testing labs and private & university research labs and therefore, due to this factor, the fume hoods market is projected to witness robust growth during the forecast period. Moreover, increasing government investments in the pharmaceutical industry coupled with rising collaborations in chemical industry and increased R&D budgets will fuel the growth of the global market during the forecast period.
Fume hoods are ventilation devices designed to limit the exposure to hazardous or toxic fumes and vapour or dust. The market has witnessed considerable traction in the past four years, in terms of value. In addition to this, due to increasing adoption of fume hoods in almost all industry verticals, especially across regions where increasing establishment of laboratories is being witnessed, the concerned market is expected to exhibit single digit growth rate during the forecast period.
Market Growth Analysis
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Increasing Adoption Across Industries to Boost Revenue Growth
Significant investments in research and development sector of various industries is the primary factor driving the growth of the fume hoods market. Also, growing demand for laboratory testing services and industry products is also creating potential growth opportunities for fume hoods providers. Furthermore, growing demand for high energy and resources for green and sustainability initiatives will also fuel the growth of the fume hoods market.
Apart from this, public and private spending on activities that aim to promote health and prevent diseases, including investments in structures and equipment, will also drive the growth of the fume hoods market. Also, these hoods are becoming an essential component of life science research, agriculture, biotechnology and pharmaceutical industries and due to this factor, the global market is expected to witness high growth rate during the forecast period.
The high cost associated with fume hoods is the major factor hampering the growth of the concerned market. Several types of costs, such as installation, operation and maintenance costs, are incurred during the life span and limit the adoption of these hoods. Furthermore, existing approaches for improving performance and saving energy in fume hoods are complicated and costly to implement, which is also one of the major factors hampering the growth of the global fume hoods market.
Fume Hoods Market: Segmentation
Fume Hoods Market: Competition Landscape
Some of prominent players in the global fume hoods market are Labconco, Esco Micro Pte Ltd., Erlab, Sentry Air Systems, Inc., Air Science USA LLC, NuAire, Köttermann GmbH & Co. KG, Terra Universa, , Esco Group, ACMAS Technologies, Royal Imtech, Azbil Corporation and Clean Air Products.
Fume Hoods Market: Regional Overview
On the basis of geography, North America is expected to capture largest market share, in terms of revenue, in the fume hoods market owing to growing adoption of these hoods in various industries and the presence of various key manufacturers in the region. Asia Pacific and Europe are also expected to capture substantial market share in the global fume hoods market owing to growing investments in the health care infrastructure in various countries of the region. Asia Pacific is also expected to witness high growth rate in global fume hoods market due to the presence of developing economies, boom in the biopharmaceutical industry and surge in the number of hospitals and research institutes in the region. The market in MEA and Latin America is expected to witness high growth due to the significant investments being made in the research and development sector of various industries of the region.
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Competitive Positioning Matrix
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Region-wise Growth Analysis
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Segmentation of the Market On the Basis of Fume Hood Type:
Segmentation of the Fume Hoods Market On the Basis of End Use:
- Hospitals & diagnostic laboratories
- Pharmaceutical & biotechnology companies
- Academic & research laboratories
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Dynamics in Fume Hoods Market
- Historical Actual Market Size, 2013–2017
- Global Market Size & Forecast, 2018 to 2028
- Supply & Demand Value Chain for the Market
- Global Market Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Market Solutions Technology
- Value Chain Analysis
- Global Market Drivers and Restraints
Regional Analysis for the Global Fume Hoods market includes:
- North America Market
- Latin America Market
- Rest of Latin America
- Western Europe Market
- Rest of Western Europe
- Eastern Europe Market
- SEA & Others of APAC Market
- Australia and New Zealand (A&NZ)
- Rest of SEA & Others of APAC
- Japan Market
- China Market
- Middle East and Africa Market
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth Fume Hoods market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Fume Hoods Market
- Strategies of key players and product offerings in Fume Hoods Market
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards Fume Hoods market performance
- Must-have information for market players to sustain and enhance their Fume Hoods market footprint