Laboratory Furniture Market to Rise at a CAGR of 6.3% during Forecast Period - TMR Study

2022-09-24 17:52:48 By : Ms. Mavis Tang

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WILMINGTON, Del. , Sept. 22, 2022 /PRNewswire/ -- In 2021, the global laboratory furniture market size stood at US$ 930.6 Mn . The global market is projected to progress at a CAGR of 6.3% during the forecast period, from 2022 to 2031. The global laboratory furniture market is anticipated to touch value of US$ 1.81 Bn by 2031. Due to increasing health concerns following the COVID-19 outbreak, there is a significant increase in the number of chemical laboratories, diagnostic, clinical, and dental in Europe , which is likely to fuel demand in the global laboratory furniture market.

The laboratory furniture market in Europe and Asia Pacific is marked by the existence of major companies. The material durability, quality, sales service, customization, and after-sales services are the main areas of attention for the lab furniture manufacturers to maintain business growth. Additionally, the market for laboratory furniture is expected to be stimulated by the growing trend of establishing laboratories in educational facilities including schools, colleges, and universities.

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In order to reduce stress-related injuries and guarantee that technicians stay productive whilst working, laboratory furniture is specifically made to put technicians in comfortable and supported postures. Contemporary, modular lab furniture that can help future-proof an existing design is becoming more and more popular amongst lab furniture designers. Utilizing basic tools, modular furniture pieces like storage units, shelves, and cabinets can be reassembled. These developments are anticipated to present immense growth opportunities to the laboratory furniture suppliers in the coming years.

Key Findings of Market Report

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Global Laboratory Furniture Market: Growth Drivers

Global Laboratory Furniture Market: Key Players

Some of the key market players are

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Global Laboratory Furniture Market: Segmentation

Luxury Furniture Market – luxury furniture market is expected to cross value of US$ 38.9 Bn by the end of 2031, It is estimated to expand at a CAGR of 5.2% from 2022 to 2031.

Kids Furniture Market - kids' furniture market is expected to reach US$ 178.3 Bn by the end of 2031, It is estimated to grow at a CAGR of 5.6% from 2022 to 2031.

Outdoor Furniture Market - Outdoor Furniture Market accounted over US$ 17 Bn in 2020, which is expected to expand at a CAGR of 6% in terms of value during the forecast period

Luxury Hotels Market - luxury hotels market is expected to exceed the value of US$ 304.6 Bn by the end of 2031, It is estimated to expand at a CAGR of 6.2% from 2021 to 2031.

Flea and Tick Product Market - flea and tick product market is expected to cross value of US$ 16.4 Bn by the end of 2031, It is estimated to grow at a CAGR of 10.1% from 2022 to 2031.

Ceramic Tableware Market- Ceramic Tableware Market to Reach Valuation of US$ 22.2 Bn in 2031.

Household Cleaners Market- Household Cleaners Market is expected to surpass value of US$ 58.8 Bn by the end of 2031

Household Vacuum Cleaners Market- Household Vacuum Cleaners Market worth US$ 27.6 Bn by 2031

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