Fume Extractor Market to Hit $4 bn by 2030, says Global Market Insights Inc.
Some of the major players operating in the fume extractor industry are Donaldson, Nederman Holding, Lincoln Electric, Cleantek, Parker Hannifin, Weller Tools GmbH, and Fumex Inc.
SELBYVILLE, Del., Sept. 12, 2022 /PRNewswire/ -- The fume extractor market is anticipated to cross USD 4 billion by 2030, according to a new research report by Global Market Insights Inc.
Growing demand for a safe working environment for laborers will drive the fume extractor industry trends, says the report. Stringent norms associated with the use of fume extractors along with rising environmental concerns will increase the demand for fume extractors. Due to the release of harmful particles that directly infect respiratory functions, the government has forged numerous regulations to protect workers' health.
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Limited awareness regarding fume extraction systems may emerge as a major restraining factor. Escalating investments in research and development activities to launch new products will encourage consumers to utilize extractors in reducing hazardous implications on health.
Pharmaceutical research and experiments to push the demand for benchtop fume extractors
Based on product, the report segregates the fume extractor market into fixed fume extraction, benchtop extractors, portable, wall mounted, and others. The benchtop segment was valued at USD 440 million in 2021 and is foreseen to reach around USD 645 million by 2030. Benchtop extractors are applicable in extracting chemicals, solvents, and epoxy fumes. In recent years, pharmaceutical experiments have increased significantly, which will support segmental growth through the forecast period.
Fume extractors with less than 250 m3/hr flow rate to depict an appreciable growth
The report identifies that the fume extractors with less than 250 m3/hr capacity will showcase considerable demand through 2030. The segment growth is attributed to the wide applicability of such extractors in the welding and electronics industries. Driven by the expanding electronics and automotive industries, along with rising investment in these sectors by government agencies, will increase the demand for such extractors. The less than 250 m3/hr capacity segment was valued at around USD 470 million in 2021 and is expected to cross USD 770 million in revenue by 2030, growing at a 5.5% CAGR over the analysis period.
Increasing use of laser cutting process to augment laser fume extractor market outlook
The laser fume extractor industry is estimated to garner over USD 470 million in revenue by 2030. The demand for laser fume extractors will increase on account of health problems ranging from acute health issues, such as irritation to the nose, throat, and eyes, to long-term effects, such as nervous system problems caused due to dust particles generated during the laser cutting process.
Browse key industry insights spread across 267 pages with 212 market data tables & 31 figures & charts from the report, "Fume Extractor Market Size By Product Type, Flow Rate, Application, End-Use, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2022 – 2030" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/fume-extractor-market
Increasing demand for electric vehicles to push automotive application segment expansion
The fume extractor market size from the automotive end-use industry will witness a CAGR of over 3.5% through the analysis timeline. Drastic changes in consumer preference for electric and hybrid vehicles due to rising environmental concerns will positively stimulate market growth. Additionally, with the growing reach of modern technology across various nations like the U.S. and Canada, the demand for advanced digital cockpits, digital head units, and instrument clusters will further strengthen industry outlook.
Latin America to emerge as a top regional ground
Latin America fume extractor market will expand at 4% CAGR between 2022 and 2030. Rising industrialization across the continent may be a key factor in advancing regional market statistics. The expansion of the manufacturing sector owing to low labor costs and increased foreign investments will further strengthen regional industry progression. In addition, rising demand for consumer electronics will foster the LATAM industry outlook.
The low cost of labor and production facilities will encourage foreign manufacturers to shift to the APAC region, which will favor the regional industry scenario. As per the report, the Asia Pacific fume extractor industry will garner a significant share in the global industry by the end of 2030.
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Acquisitions to remain a pivotal growth strategy
The competitive landscape of the fume extractor market is inclusive of American Air Filter, Nederman Holding, BOFA International, Fumex Inc., Apzem, Cleantek, Sentry Air Systems, Parker Hannifin, Metcal, Quatro Air Technologies, HAKKO Corporation, Apollo Seiko, Span Filtration Systems, Dynavac, Weller Tools GmbH, Donaldson Company, Powertech Pollution Controls Pvt Ltd, Lincoln Electric, Miller Electric, and Kemper America. These companies engage mainly in rigorous research and development activities to launch new products as well as strategic alliances and collaborations to maintain their market position.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Corporate Sales, USA
Global Market Insights Inc.
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SOURCE Global Market Insights Inc.
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