Vacuum Ovens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
The global vacuum ovens market was worth US$ 166.5 Million in 2017. A vacuum oven is an extremely versatile equipment that has applications in laboratory research, engineering, and industry. In vacuum ovens, the process of heat treatment takes place inside an airtight vessel. This enables a vacuum to be drawn inside the vessel. The entire heat-treating procedure can be initiated under vacuum or precisely controlled environments can be introduced. Heat treating under vacuum can provide numerous advantages such as:
It can prevent surface reactions like oxidation or decarburization
It can remove surface contaminants like oxide films and residual traces of lubricants
It can add a substance to the surface layers of the work
It can remove dissolved contaminating materials from metals by degassing
The rise of the vacuum oven market largely relies on the legalised use of cannabis in considerable parts of the world and the commercialisation that materializes with it. For the legalised cannabis growers, vacuum ovens help them to process cannabis extract BHOs (Butane Hash oil). Through these vacuums, the growers get purified oil extract, along with a reduced risk of fire while performing the entire process. The vacuum ovens are also used in the medical industry to remove chemicals that are possibly toxic to the human body. This process is essentially compelling for embedded medical devices like artificial heart valves, pacemakers and even joints. In addition to this, these ovens are also used in order to comprehend how a device will react to the high vacuum environment of space, which makes them a viable equipment for the aerospace industry. Looking forward, the market value is projected to reach US$ 255.5 Million by 2023, expanding at a CAGR of 7.4% during 2018-2023.
Based on the product type, the market has been segmented into <200, 200-300 and > 300.
Based on the application, the market has been segmented into home appliances and commercial appliances.
Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been examined with some of the key players being Cole-Parmer, Memmert, MTI, Sheldon Manufacturing, Thermo Fisher, Accumax India, BINDER, Cascade TEK, ESPEC, Grieve, JEIO, SalvisLab Renggli, Shanghai Hasuc Instrument, Ted Pella and Yamato Scientific.
This report provides a deep insight into the global vacuum ovens market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the vacuum ovens market in any manner.
Key Questions Answered in This Report:
How has the global vacuum ovens market performed so far and how will it perform in the coming years?
What are the key regional markets in the global vacuum ovens industry?
What is the breakup of the vacuum ovens market on the basis of product types?
What is the breakup of the vacuum ovens market on the basis of application?
What are the price trends of vacuum ovens?
What are the various stages in the value chain of the global vacuum ovens market?
What are the key driving factors and challenges in the global vacuum ovens market?
What is the structure of the global vacuum ovens market and who are the key players?
What is the degree of competition in the global vacuum ovens market?
How are vacuum ovens manufactured?
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