Global Vaping Tank Market 2018-2022
About Vaping Tank
A vaping tank is also referred to as an atomizer, a clearomizer, or a cartomizer. It is the combination of an e-liquid holder and a heating element, which when connected to an e-cigarette battery transforms into a vaporizer. Vaping tanks are of two types: open vaping tank (OVT) and closed vaping tank (CVT).
Technavio’s analysts forecast the Global Vaping Tank Market to grow at a CAGR of 28.92% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the vaping tank market. To calculate the market size, the report considers the revenue generated from the sale of vaping tanks across the globe.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report - Global Vaping Tank Market 2018-2022
Technavio recognizes the following companies as the key players in the global vaping tank market: Aspire, IJOY, Imperial Brands, Innokin Technology, Joyetech Group, Shenzhen IVPS Technology, and VapeFly.net.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is the rising number of mergers and acquisitions in the industry. Since 2010, many large vendors in the tobacco market are engaged in mergers and acquisitions (M&A) to enter the emerging vapors, tanks, and modifiers (VTM) market and increase their market share.”
According to the report, one driver influencing this market is the increasing number of vape shops and stores across the globe. Globally, the number of people who use e-cigarettes has grown considerably, which is likely to augment the growth of the global vaping tank market over the next few years. Also, factors such as promotional initiatives taken by various government agencies are compelling consumers to shift toward safer smoking alternatives.
Further, the report states that one challenge affecting this market is the negative health effects of vaping. Many countries have imposed bans on the use of vaping products owing to the serious health risks to vapers which will negatively impact the growth of the vaping tank market.
Shenzhen IVPS Technology