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    FMI Analysis: Rapidly Rising Trend of Digitalization and IoT-based Custom Laboratory Furnaces to be Key Driver for Laboratory Furnaces Market

    The global laboratory furnaces market is expected to exceed US$ 545.1 million in 2032, up from US$ 327.0 million in 2022. In the projected period of 2022 to 2032, the market is expected to develop at a CAGR of 5.2%.

    Laboratory furnaces are heating devices often used in industrial laboratories for sterilization, annealing, polymer treatment, evaporation, and solvent removal. Laboratory furnace advancements are projected to drive the market across numerous industries. The increasing need for laboratories in oil and gas, chemical, and pharmaceutical industries is expected to drive the laboratory furnaces market during the forecast period.

    Furthermore, the growing demand for laboratory furnaces in research laboratories, quality assurance labs, diagnostic testing labs, medical labs, R&D laboratories, and industrial facilities is expected to drive the market. According to FMI, the global laboratory furnaces market accounts for 1% to 3% of its parent market, the global laboratory equipment market.

    Furthermore, the laboratory furnaces market is predicted to expand gradually over the next 10 years as educational institutions and industrialization expand. The need for more accurate and exact measurements in R&D centers and the increased demand for higher-quality products from industries will also drive growth.

    New furnaces contain liners that protect the interior from damage when exposed to harsh conditions. The thermal insulation of bricks keeps the heat inside the boiler, making it more efficient. These unique apparatuses and the hybrid heat performance make them easier to use than conventional furnaces. The accumulation of filth is reduced in such devices, extending the life of the appliance.

    Laboratory furnaces must be used with caution and in a well-ventilated room or lab design. Because furnaces operate at extremely high temperatures, additional precautions must be taken while handling chemical or material samples, as this produces fumes and is hazardous to workers. This helps to explain their selective use and installation in schools or businesses. Such safety concerns are regarded as minimal impediments to market growth. Because of the aforementioned causes, the laboratory furnaces market is expected to increase by 1.6x between 2022 and 2032.

    In terms of revenue, North America is predicted to dominate the global laboratory furnaces market in 2022. Throughout the forecast period, the US is expected to control roughly 78.3% of the North American market.

    Top Trends Fueling Sales of Laboratory Furnaces Worldwide

    • “Laboratory Furnace Manufacturers to Utilize E-commerce Platforms for Expanding their Client Base”

    Manufacturers and producers of laboratory furnaces are increasing their sales footprint in various countries by focusing on sales through online platforms such as e-commerce websites. Online marketplaces provide several types of furnaces in varying sizes based on end-use applications.

    Companies’ sales channels are gradually transitioning to Internet platforms, thus many businesses have strengthened and expanded their digital channels to drive sales. Many chemical firms have also begun selling their products on various e-commerce platforms, which is assisting them in expanding their client reach.

    • “Rapid Shift of Firms towards IoT-based Custom Laboratory Furnaces to Drive Growth”

    Digitalization in the industrial sector is a rapidly growing trend that is considered to be Digitalization in the industrial sector is a quickly expanding trend that is expected to be prevalent in the laboratory furnace market. Manufacturers are developing a digitally controlled system for laboratory furnaces that will provide accurate heat transfer and temperature scale signaling.

    It also improves the furnace’s operational efficiency. The rate of temperature can be adjusted with a digitally controlled system. Because of this added benefit, many end users are migrating toward the digitalization of laboratory furnaces.

    Furthermore, the advent of the Internet of Things (IoT)-based furnaces that are linked to the IoT network provides additional technical benefits. For example, IoT connectivity enables the support team to more readily examine and analyze device-related data.

    Country-wise Insights

    Why is the Demand for Laboratory Furnaces Surging in China?

    “Pharmaceutical Companies in China to Look for Advanced Heat Treating Equipment”

    In 2022, China held around 45.8% of the East Asia laboratory furnaces market share. By the conclusion of the forecast period, the market is expected to generate an absolute dollar opportunity worth US$ 29.1 million.

    While some research and development (R&D) projects in China are still in the planning stages, others have finally commenced after a year of delays caused by the global pandemic. As a result, pharmaceutical firms have gained a vast scope for research and development of novel treatments and cures. The thermal stability of these medications is examined using a laboratory furnace throughout the development phase. As a result, the pharmaceutical industry’s expansion will drive up demand for laboratory furnaces in China.

    The Chinese healthcare, pharmaceutical, and chemical industries are expected to grow significantly during the next ten years. The hunt for sustainable chemicals through research efforts, which necessitate sophisticated tools such as laboratory furnaces for high-temperature tests, is driving growth in these industries.

    In addition, producers have been concentrating on the creation of innovative products with great durability and efficiency. As a result, investment in research and development has increased. This will pave the way for the introduction of new and creative goods, as well as help meet the growing demand from end-user consumers.

    How are Laboratory Furnace Companies Faring in the US?

    “Educational Institutions in the US are Demanding Laboratory Muffle Furnaces”

    The United States now controls the North American market for laboratory furnaces. Growing R&D investments in the United States are driving up demand for research laboratories in a variety of economic sectors. As a result, it is favorably influencing growth in the laboratory furnaces market in the United States.

    The education sector is altering and shifting towards more technical components, necessitating practical education and necessitating the establishment of research laboratories. This increases the demand for laboratory furnaces even further. Academic and institutional laboratories account for around 7% of total laboratories in the United States.

    Moreover, the rising demand for laboratories from pharmaceutical businesses is aiding the country’s economy. Many biopharmaceutical and pharmaceutical companies are increasingly turning to clinical research organizations (CROs) that provide central lab services as part of their integrated service models.

    Category-wise Insights

    Which is the Leading Type of Laboratory Furnace across the World?

    “Sales of Benchtop Laboratory Heating Equipment to Grow Exponentially by 2032”

    Benchtop laboratory furnaces will dominate the market by type throughout the projected period. Benchtop laboratory furnaces are expected to account for more than 49.2% of total shares by 2032. The bench-top laboratory furnace is a tiny furnace designed to meet the demand for accurate temperature control and temperature constancy in laboratory work.

    These furnaces are mostly utilized in pharmaceutical laboratories, chemical laboratories, research laboratories, and educational organizations. Benchtop laboratory furnace sales are expanding as demand from these industries grows.

    Which is the Most Used Configuration Type in Laboratory Furnaces?

    “Demand for Laboratory Tube Furnaces to Surge at a Rapid Pace by the End of 2032”

    According to a new FMI research report, sales of tube laboratory furnaces will expand rapidly over the next ten years, followed by box laboratory furnaces. As small samples are heated in an inert environment utilizing tube furnaces, the segment is expected to stay dominating during the projected period.

    Certain models include three-zone controls to divide the sampling chamber into three separate temperature gradients for material testing. Tube furnaces are used for crystal formation, thermal expansion, and sample viscosity testing.

    From 2022 to 2032, the tube laboratory furnaces segment is expected to increase at a 5.5% CAGR. It is also expected to generate a US$ 47.2 million absolute dollar opportunity by the end of 2032, says FMI Analyst

    Competitive Landscape

    With the presence of various large, medium, and small-scale system developers, manufacturers, and service providers, the global laboratory furnaces market is highly fragmented. For greater market potential, prominent laboratory furnace manufacturers are collaborating and partnering with car manufacturers.

    For instance,

    • In January 2021, the ECM Group, which is a leading provider of industrial heat treatment solutions based in Australia, launched ECM Lab Solutions, its new offer dedicated to research centers and laboratories. ECM Lab Solutions would deliver laboratory furnaces that are ideal tools to work on samples up to small-scale production.

    Key Companies Profiled

    Thermo Fisher Scientific, CARBOLITE GERO, Nabertherm GmbH, C M Furnaces Inc, Across International, BIO-BASE, Thermcraft Incorporated, Hobersal, Yamato Scientific co., ltd, Lindberg/MPH, Vecstar

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