Laboratory Furniture Market Size to Grow at a CAGR of 6.2% in the Forecast Period of 2023-2028
The ‘Global Laboratory Furniture Market Share, Size, Price, Growth, Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global laboratory furniture market, assessing the market on the basis of its segments like product type, quality, application, and major regions.
Laboratory Furniture Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.2%
The global laboratory furniture market is expected to register growth during the forecast period as laboratory furniture enables comfortable and optimised operations in laboratory environments, improving the overall speed and accuracy of results. Advances in materials and technology have transformed laboratory furniture, improving strength, safety, productivity, durability, and appearance, encouraging the advancement of the discoveries made inside the laboratories. This is likely to enhance the laboratory furniture demand in the coming timeframe.
The increasing production of a wide range of medical laboratory furniture by various manufacturers is likely to fuel market growth over the coming years. This is due to the primary feature of medical laboratory furniture which is high decontaminability due to the materials’ high chemical and mechanical resistance, safety, and ergonomics.
The growing expenditure by various governments on laboratories as well as development in education is further expected to encourage college and school administrations to buy laboratory furniture. With the increased funding by governments in several regions towards improved medical infrastructure, the demand for laboratories and the laboratory furniture market is expected to increase further.
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The surging environmental awareness among lab furniture manufacturers is likely to boost the adoption of eco-friendly materials in the production of laboratory furniture. This is further expected to enhance the laboratory furniture market growth across the globe. Manufacturers are also offering laboratory furniture that is appropriate for environments that need to be cleaned daily like hospitals and clinical fields due to the high significance of hygiene.
Laboratory Furniture Industry Definition and Major Segments
Laboratory furniture refers furniture that is specifically created to be installed and used in any type of laboratory. This type of furniture in a laboratory enables maintenance of required hygiene and decontamination standards, facilitating precise laboratory activities. Lab chairs, benches, tables, stools, and work surfaces, along with storage cabinets provided by manufacturers are utilised in all sorts of laboratories, involving chemistry, research, life sciences, pharmaceuticals, and medicine.
Based on product type, the market is classified into:
• Laboratory Stools and Chairs
• Laboratory Tables and Storage Cabinets
• Laboratory Tables
• Pedestal Laboratory Furniture
By quality, the market is segmented into:
• Mid Range
On the basis of application, the market is classified into:
• Educational Institution
• Research and Development Centres
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Laboratory Furniture Market Trends
With the rise in the worldwide chemical industry and the increasing research development activities, the demand for new testing and refining laboratories is expected to rise. This is further expected to escalate the market demand for laboratory furniture over the upcoming years. Moreover, the surging utilisation of laboratory furniture in archaeological facilities is also expected to propel the demand for laboratory furniture.
Geographically, the North American region is anticipated to drive the laboratory furniture market growth on account of the well-developed medical infrastructure coupled with the rising demand for medical furniture in the region. The increasing investment by several leading companies like Fisher Scientific Company L.L.C. along with the surging building of numerous research centres is likely to fuel the market growth of laboratory furniture.
Meanwhile, the Asia Pacific is expected to gain momentum in the laboratory furniture market share over the coming years on account of the increasing population and growing medical infrastructure across the region. The increasing support of the regional governments for STEM educational projects in countries like India, with the aim of enhancing analytical skills among young adults, is further aiding the market growth of laboratory furniture in the region.
The growing pharmaceutical industry is likely to enhance the demand for advanced laboratory research facilities. With the increasing number of manufacturing plants in countries like China and India that utilise research laboratories, the growth of the laboratory furniture market is expected to boost over the coming years in the region.
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Key Market Players
The major players in the global laboratory furniture market report are:
• WALDNER Holding SE & Co. KG
• Kewaunee International Group
• Fisher Scientific Company L.L.C.
• Labconco Corporation
• Yamato Scientific co., ltd.
• Kottermann GmbH
• Wesemann International GmbH
• PROLINE Industrial Workbenches
• Asecos GmbH
• Plastic Concepts, Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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