The Lab Enclosures and Furniture Market: 2020 outlook
Data taken from Top-Down Analytics (TDA) Research report: 2020 Laboratory Enclosures and Furniture
In partnership with SEFA (Scientific Equipment and Furniture Association), Top-Down Analytics (TDA) has newly launched a report entitled 2020 Laboratory Enclosures and Furniture. This new report looks at forecasts for the global market for lab enclosures and furniture, which includes lab furniture, fume hoods, biological safety cabinets, and laminar flow benches. The 2020 report provides insight into market performance and expectations both for products, market opportunities and growth. It is bolstered by data from the 2019 survey carried out in partnership with SEFA of nearly 80 lab furniture and enclosure product manufacturers.
The market is currently growing at more than 4% per annum, giving an overall total market of $2.3bn in 2024, up from $1.84bn in 2019. Market demand is most strong in North America and APAC, which is dominated by China, where demand is forecast with 10% growth per annum, by far the largest rate of growth globally for these products.
The total market is measured by three product categories:
- Lab Furniture dominates with more than 50% of overall sales at $1.01bn in 2020
- Fume hoods are expected to reach $512m worldwide while
- Clean Benches and Biological Safety Cabinets will achieve $447m.
In the report, TDA details the end-user markets for laboratory furniture, which are dominated by academia and pharma/ biotech, which, between them, constitute more than 50% of the total end-user market for these combined product lines.
Notably, the market for fume hood is six times bigger for exhaust than ductless. The market for clean benches and biological safety cabinets is growing, expected to reach $447m during 2020.
In the report, TDA reports on several macroeconomic trends impacting the 2020 market, both positively and negatively:
- Positives reported include expansion in Asia, strong employment rates, strong investment in infrastructure, investment in biopharma R&D etc.
- Negatives reported include a number of factors ranging from currency FX, Brexit, trade disputes/ reshoring and political instability, and specifically uncertainties in public funding.
- The findings from the laboratory furniture and enclosures product manufacturer survey is also presented in the report.
Making the most of market insight
This kind of market insight is invaluable. The projections should help validate your future plans including target markets and end-user segments. Putting dollar values against market growth in your segment and thus monetising the growth you are aiming for, will help you to focus clearly on the best opportunities for lab enclosures and furniture in 2020.
We work closely with clients in many of the segments outlined in the report, and have teams working in these markets in China to support international clients wanting to improve their market visibility locally. In 2020, we will be available to meet and discuss your support needs and challenges, both at Pittcon 2020 and at Analytica 2020, simply contact us and we will be happy to talk with you in confidence.
We help companies to communicate better with their complex audiences to grow awareness, change perceptions, generate demand and ultimately, grow market share, in China, North America and Europe.
To buy the full report, click here.
To find out more about communicating with laboratory markets, contact us.