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SOURCE: Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Laboratory Refrigerators and Ovens markets. The global market for Laboratory Refrigerators and Ovens is projected to reach US$1.2 billion by 2018. Growth in the market would be primarily driven by new innovations on the product front in the Laboratory Refrigerators and Freezers space, and increasing number of applications in case of Laboratory Ovens.
San Jose, CA (PRWEB) October 08, 2012
Follow us on LinkedIn – In recent times, energy efficiency has emerged as the major factor influencing the choice of laboratory refrigerators/freezers as well as laboratory ovens among end-users. This can be mainly attributed to the topical rise in operating costs in recent times, due to which laboratories across the globe are faced with the compelling need to optimize expenditures. Accordingly, laboratories are taking a closer examination of various product aspects, such as sample compatibility, storage capacity, energy consumption as well as rates and generation of noise and heat in smaller areas, before making a purchasing decision. Laboratory refrigerators/freezers, unlike conventional food storage refrigerators, are usually equipped with mechanically circulated air system, sturdy cabinet and an air-cooled refrigeration system. In order to provide efficient laboratory refrigeration systems there is a need for designing systems that remove heat and yield low temperatures.
Over the past few years, the global laboratory refrigerators and freezers market has been witnessing new innovations on the product front. Some of these innovations such as ejector-expansion refrigeration, the Stirling engine, magnetic cooling, phase-change gels and thermoacoustic refrigeration are slowly being incorporated into the products. Also, the laboratory refrigerators/freezers market is expected to witness high levels of innovation concerning alternative refrigerants in the upcoming years. In fact, the development of effective and safe alternative refrigerants is expected to take centre stage, and even spearhead future innovations in the market over the next few years. The segment is also witnessing a rising popularity of hydrocarbon freezers in recent times. This trend can be primarily attributed to the benefits that hydrocarbon technology offers.
On the other hand, growth in the laboratory ovens space would mainly stem from expanding applications. Laboratory ovens are generally used for heating the samples gently, preparing or curing composites and materials, regenerating catalysts and desiccants, and drying heat-resistant equipment and glassware. Of late, however, laboratory ovens are finding use in a variety of new applications. For instance, chemists have started using laboratory ovens for removing solvents and drying thin film batteries. Additionally, laboratories in the food industry sector are using laboratory ovens for desiccating the samples and determining their moisture content.
As stated by the new market research report on Laboratory Refrigerators and Ovens, the US represents the largest regional market for laboratory refrigerators and ovens in the world. However, majority of the growth is expected to emanate from Asia-Pacific, driven by enhancement in research and development initiatives across the region. Accordingly, the Asia-Pacific market for laboratory refrigerators and ovens is forecast to grow at a compounded annual rate of around 7.0% over the analysis period.
Major players in the global marketplace include Carbolite Ltd., Chart Industries Inc., Marvel Scientific, New Brunswick Scientific Co., NuAire Inc., Panasonic Healthcare Co., Ltd., SPX Corp., Thermo Fisher Scientific, and Thermogenesis Corp., among others.
The research report titled “Laboratory Refrigerators and Ovens: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections by value (in US$ million) for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific, Latin America, and Rest of World.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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