Laboratory Refrigerators and Ovens

Global Laboratory Refrigerators and Ovens Market to Reach US$2.6 Billion by 2030

The global market for Laboratory Refrigerators and Ovens estimated at US$1.9 Billion in the year 2024, is expected to reach US$2.6 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2024-2030. General Purpose Laboratory Refrigerators, one of the segments analyzed in the report, is expected to record a 5.4% CAGR and reach US$656.3 Million by the end of the analysis period. Growth in the Sub-Zero Refrigerators segment is estimated at 6.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$583.6 Million While China is Forecast to Grow at 8.3% CAGR

The Laboratory Refrigerators and Ovens market in the U.S. is estimated at US$583.6 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$317.1 Million by the year 2030 trailing a CAGR of 8.3% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.8% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.

Global Laboratory Refrigerators and Ovens Market - Key Trends & Drivers Summarized

Laboratory refrigerators and ovens are critical components of scientific research and industrial laboratories, providing precise temperature control for a variety of applications. Laboratory refrigerators are used to store samples, reagents, and biological materials at specific temperatures to ensure their stability and integrity. These refrigerators come in various types, including ultra-low temperature freezers, blood bank refrigerators, and general-purpose laboratory refrigerators, each designed to meet specific storage requirements. Laboratory ovens, on the other hand, are used for drying, curing, and sterilizing samples and equipment. They offer controlled heating environments and are available in several configurations, such as gravity convection, mechanical convection, and vacuum ovens, catering to different laboratory needs.

The demand for laboratory refrigerators and ovens has been increasing due to advancements in scientific research and the growing need for precise and reliable temperature control in various laboratory processes. Innovations in refrigeration and heating technologies have led to the development of more energy-efficient, accurate, and user-friendly equipment. Modern laboratory refrigerators and ovens feature advanced digital controls, alarms, and data logging capabilities, ensuring optimal performance and safety. The rise of biobanking, clinical trials, and pharmaceutical research has significantly boosted the demand for specialized storage and processing equipment, driving further innovation in this sector. Additionally, the COVID-19 pandemic has highlighted the importance of reliable cold storage for vaccines and biological samples, further propelling market growth.

The growth in the laboratory refrigerators and ovens market is driven by several factors. Firstly, the increasing volume of biomedical research and clinical trials is generating a high demand for reliable storage and processing equipment. Secondly, the expansion of the pharmaceutical and biotechnology industries is driving the need for advanced laboratory refrigerators and ovens to support drug development and manufacturing processes. Thirdly, the rising focus on quality control and compliance with regulatory standards in laboratories is boosting the adoption of sophisticated temperature control equipment. Additionally, the growing trend of personalized medicine and regenerative therapies is increasing the need for specialized storage solutions for sensitive biological materials. Lastly, advancements in refrigeration and heating technologies, coupled with the development of energy-efficient and environmentally friendly equipment, are further driving market growth by meeting the evolving needs of modern laboratories.

SCOPE OF STUDY:

The report analyzes the Laboratory Refrigerators and Ovens market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product Segment (General Purpose Laboratory Refrigerators, Sub-Zero Refrigerators, Portable Refrigerators, Walk-In Refrigerators, Explosion Proof Refrigerators, General Purpose Laboratory Freezers, Ultra Low Temperature Freezers, Explosion Proof Freezers, General Purpose Laboratory Ovens, Vacuum Ovens); End-Use (Pharma & Biotech Companies, Blood Banks, Pharmacies, Academic & Research Institutes, Hospitals, Medical Laboratories)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 217 Featured) -

• Marvel Refrigeration
• Angelantoni Life Science
• Azbil Telstar, S.L.
• BINDER GmbH
• Carbolite GERO Limited
• Cryoport, Inc.
• Cole-Parmer Instrument Company
• Eppendorf AG
• EVERMED s.r.l
• Haier Biomedical
• Helmer Scientific, Inc.
• Labcold Ltd.
• Liebherr
• NuAire Inc.
• PHC Holdings Corporation
• Philipp Kirsch GmbH
• Sheldon Manufacturing, Inc.
• Terumo Corporation
• Thermo Fisher Scientific, Inc.
• IC Biomedical, LLC

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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