Laboratory Furniture Market
Laboratory Furniture Market (Product: Laboratory Tables, Laboratory Stools & Chairs, Laboratory Storage Cabinets, Pedestal Laboratory Furniture, Laboratory IPS Units, Others; End User: School & College Laboratories, Medical Laboratories; Distribution Channel: Online, Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Emergence of Sustainable Laboratory Furniture to Add New Vigor to Scientific Discovery
Laboratory furniture designers are routinely perplexed by the ramifications of using traditional laboratory furniture that utilizes 5 times more energy and becomes an impediment to their bottom line. Alternatively, lab furniture manufactures could ponder on the multitude of options that are available to create efficient and functional labs using laboratory furniture that is more sustainable, thus becoming a refinement and harbinger for a safer and more cost-effective strategy. Examples of such labs are flexible laboratories with features such as movable cupboards, or sustainable laboratories with features such as fume hoods to reduce exhaust rates.
Laboratory furniture designers are adopting a new approach to design a crafty lab using furniture that is modular and can assist in future-proofing an existing design. Modular furniture such as storage units, cabinets, and shelves can be re-constructed using simple tools. Eco-friendly design elements can be added without going through a tedious, disruptive, and costly innovation. As moving to a brand new facility is not only costly but also not feasible, juxtaposing existing laboratory furniture with utilities that are more economical, space efficient, and functional is emerging as a key driving factor boosting the growth of the laboratory furniture market.
Innovations in modular lab furniture are becoming very popular, especially for disaster mitigation, in the laboratory furniture market, which recorded sales of ~3.1 billion units in 2018, reaching a valuation of ~US$ 838 million. In the coming years, due to increasing awareness about the environmental impact of manufacturing activities and the need for their reducing carbon footprint, stakeholders in the laboratory furniture market are likely to focus on adopting sustainable raw materials while catering to the rise in the demand for modular laboratory furniture.
Planning to lay down future strategy? Perfect your plan with our report brochure here
Rise of Greener Labs to Influence Features of Laboratory Furniture
Green labs are being positioned to maximize solar gain during the winters and reduce interior heating in the summers, which is one of the important factors influencing the emerging trends in the laboratory furniture market. Sustainable furniture and energy recovery systems that allow cost reduction and improvements in the design of environment-friendly laboratories are witnessing high demand in this landscape.
Temperature-controlled storages and freezers are becoming a critical part of laboratory furniture, as the need for reducing energy consumption is surging across research industries. In addition, market players are likely to introduce technological features to laboratory furniture by integrating cloud-based systems for temperature regulation and real-time monitoring.
Furthermore, lab furniture such as incubators and freezers are fitted with wireless probes to monitor door status. These probes then communicate with the servers and alert lab users about any malfunction. This also aids manufacturers in meeting compliance and regulations, and curbing unnecessary audit costs. Equipment recycling also earns laboratory furniture manufacturers some critical LEED (Leadership in Environmental Design) credits, thus helping them promote their sustainability achievements by building greener laboratories around the world. Using this strategy, laboratory furniture manufacturers can gain an edge over their competitors.
Hot Trends in Laboratory Furniture Designs
Growing environmental awareness has bolstered the adoption of eco-friendly materials among laboratory furniture manufacturers. The increasing use of sustainable materials such as stainless steel, which does not only increase the life of the furniture but also makes recycling possible, is an important and continuous trend that will continue to influence the growth of the laboratory furniture market. Additionally, solvent-free powder coatings, which are less volatile, and cost-effective, are gaining high demand in the laboratory furniture market.
Furthermore, manufacturers are introducing 3D visualization services for their clients to prevent furniture design and layout errors, ultimately to plummet manufacturing costs and production times. Traditional designing involves costly and time-consuming revisions. Laboratory furniture manufacturers are now providing online tools that allow their clients to design their labs and ultimately customize their laboratory furniture according to their needs. There are a plethora of material choices and design layouts that can be viewed from a 3D angle almost instantaneously. This trend can significantly impact the bottom line of key market players and reduce the cost of overheads incurred in tedious design procedures.
Adjustable workbenches, tables, and desks that are more ergonomic and prevent neck and back ache are likely to remain high in demand, and this will influence market players’ business strategies in the coming years. Thereby, the rise in the demand for ergonomic furniture is also a key trend positively impacting the laboratory furniture market.
Want to know the obstructions to your company’s growth in future? Request a PDF sample here
What is Impeding the Growth of the Laboratory Furniture Market?
Technology is proliferating at a rapid rate. With scientific evolution, more and more markets are utilizing talent, and this is leading to the creation of science parks and hubs. The downside to this is the escalating real estate costs that could restrain or impede the laboratory furniture market, as more and more workers are being forced to work in smaller spaces.
Another threat that is impacting the growth of the laboratory furniture market is the threat of tariffs on trade. Many furniture companies, especially in North America, import raw material and furniture goods from China. Recently, North America recorded a surplus of goods imported from China vis-à-vis goods exported, which recorded an acute deficit. This did not bode well for the North American economy, as it increased the rate of Section 301 Tariff from 10% to 25% on goods coming in from China. While companies that manufacture their laboratory furniture from raw materials that are sourced locally are not directly affected, it does not bode well for other market players in the laboratory furniture market. Furniture manufacturers who source their material from abroad will be adversely impacted due to the tariffs, and this will impede the growth of the laboratory furniture market. The indirect effects of tariffs can also be seen on local players who have to deal with the escalated prices of domestic stainless steel.
Harsh tariffs will also have a negative impact on Chinese material suppliers. Bombarded with escalating tariffs, Chinese exporters will have to shut down or look at other alternatives. With China being one of the largest exporters of laboratory furniture material, worldwide, this is bound to adversely affect the global laboratory furniture market and restrict its growth.
Insights into the Competitive Landscape
Headquartered in North Carolina, United States, Kewaunee Scientific Corporation is designing futuristic laboratory furniture that resonates with style, aesthetics, functionality, and comfort. Its design and sales teams are working closely together to provide its clients with a 3D overview of a fully-functional laboratory, from planning to design and construction.
Located in Canada, Mott Manufacturing Limited is a company dedicated to the manufacturing of steel laboratory furniture and fume hoods across the globe. Globally, many laboratories are demanding improved and highly advanced laboratory casework furniture such as cabinets, shelves, and cupboards, to support their growing need for research and development. Mott Manufacturing continues to be one of the premier suppliers of new and improved laboratory casework. The key components of Mott’s famed furniture are robust, sturdy designs, and long-lasting ability. Customized furniture is designed and provided to its clientele. It is also deploying expansion strategies for its portfolio expansion.
The Waldner Group has its headquarters in Germany. Its noticeable contribution has been its pioneering innovation of the SCALA lab furniture. The furniture is flexible and adaptive, and be easily re-configured according to changing needs. Laboratory units include fume cupboards, work benches, cabinets, and ceilings, and provide functional and ergonomic solutions to different types of laboratories. This has helped Waldner enhance its brand presence, globally.
Looking for exclusive market insights from business experts? Request a Custom Report here
A comprehensive view of the laboratory furniture market has led our analysts to conclude that, the market is growing at a moderately-fast rate, with the market in Asia Pacific projected to record the highest CAGR for laboratory furniture. The rising demand of laboratory furniture in diverse fields such as healthcare, pharmaceuticals, education, chemical laboratories, and semiconductor labs is spurring the growth of the market.
The impact of the laboratory furniture market will remain high in developing economies, where increasing funding for colleges and schools, and the rising demand from the healthcare sector will fuel the demand for laboratory furniture. The demand for tested and certified consumer products is fostering the demand for laboratory furniture. Strong financial position of key market players will also give impetus to the laboratory furniture industry.
Technological breakthroughs such as robotics, automation, and the introduction of modular laboratory furniture as a sustainable alternative could provide timely succor as a cost-effective and time-saving strategy, thereby increasing profit the margins of market players. Companies with research & development capabilities and technological prowess will gather momentum and profitability in the laboratory furniture market.
Leading players who are leveraging technology will continue to grow exponentially and have a vast market revenue share. However, heavy tariffs and the increasing prices of real estate could restrain the growth of the laboratory furniture market.
- According to Transparency Market Research’s latest market report on the laboratory furniture market for the period of 2019–2027 (wherein, the period from 2019 to 2027 is the forecast period, and 2018 is the base year), increasing safety regulations driving the demand for laboratory testing services, coupled with rising government funding for medical schools and colleges, is anticipated to bolster the demand for laboratory furniture.
- In the report, revenue generated by the laboratory furniture market is given in terms of value and volume throughout the forecast period.
Rise in Safety Regulations Driving Demand for Laboratory Testing Services: A Key Driver
- Increasing safety regulations are enhancing the demand for laboratory testing services. This, in turn, is anticipated to boost the demand for laboratory furniture. Additionally, the hygienic needs of the increasing geriatric population, coupled with rising health issues, are anticipated to drive the demand for lab-tested products. This is anticipated to drive the demand for laboratory furniture.
Government Funding for Colleges & Universities, Especially Medical Schools & Colleges, to Boost Demand for Laboratory Furniture
- Increasing government spending on education and laboratory expansion is prompting the purchase of laboratory furniture by school and college administrations, worldwide. Rising government funding on medical schools and colleges for laboratory setups for research & development purposes is anticipated to drive the demand for laboratory furniture.
- Thus, the demand for laboratory furniture is anticipated to increase in the near future with the increasing number of government and private medical colleges, worldwide.
High Initial Investment for Laboratory Furniture: A Key Restraining Factor
- A prime barrier in the global laboratory furniture market is the high initial investment required for medical furniture. Huge investment is required to purchase or replace existing furniture in any medical laboratory.
- Laboratory furniture is expensive and has a long lifecycle. This results in a lower replacement cycle for various laboratory furniture, thus, restraining the demand for laboratory furniture. Additionally, higher investment in laboratory furniture entails considerable time to reach the breakeven point for any public or private laboratory. This also restrains the growth of the laboratory furniture market.
Laboratory Furniture Market: Competition Landscape
- Detailed profiles of manufacturers of laboratory furniture have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
- Key players operating in the global laboratory furniture market include
- FRIATEC GmbH,
- GE Healthcare Services
- Kewaunee Scientific
- LOC Scientific
- MERCI, s.r.o.
- Mott Manufacturing Ltd.
- PSA Laboratory Furniture LLC
- Thermo Fisher Scientific
- WALDNER Laboreinrichtungen GmbH & Co. KG
Laboratory Furniture Market: Key Developments
- In May 2018, Kewaunee Scientific, a key manufacturer in the laboratory furniture market, introduced a laboratory furniture benching system. CODA’s modular design features a height adjustment surface, moveable shelving, and integrated lighting systems technology. These new benching systems are up to 10 feet long between structural supports. CODA’s bench enables greater flexibility for a lab layout.
Some other key developments in the laboratory furniture market are as follows:
- In March 2019, WALDNER Group initiated the construction phase at the Wangen site for the production of fume cupboards and media carriers. At this site, laboratory equipment is expected to be manufactured according to the latest technical standards.
- In December 2018, Dyad Labs, (formerly known as Genysis Labs) specialized in chemistry and microbiology testing services for the nutraceutical and food & beverage industries, selected Labs USA, Salt Lake City, U.S. for the supply of equipment and lab furniture for its new material testing laboratory.
- In February 2017, Mott Manufacturing Ltd. introduced a new bench system - LED SHELF TASK LIGHT FOR OPTIMA. It has user-friendly features such as an energy saving light sensors. It is useful for university teaching & research activities, and for the industrial, biotech, and pharmaceutical industries.
Analysts at Transparency Market Research, in their recently generated research report, have given detailed, comprehensive, and objective insights on the expansive market landscape of laboratory furniture. The study is impactful, insightful, and actionable, and will equip B2B stakeholders with strategic tools that will serve as game-changers and considerably improve their bottom line.
The report extensively brings out the dynamics of the laboratory furniture industry that are currently affecting its market landscape. Special emphasis has been laid on the drivers, restraints, opportunities, threats/trends, and value chain analysis of the laboratory furniture market. This in-depth research report also does an extensive SWOT analysis of leading industry heavyweights, in an attempt to garner information on industry strongholds as well as areas of improvement. This gives stakeholders a holistic view of the laboratory furniture market, especially for the forecast period.
The study on the laboratory furniture market has also conducted a thorough appraisal of Porter’s Five Forces analysis. This is an attempt to let leaders know what the growth strategies and underlying opportunities are that could enable them make expert decisions in the vast landscape of the laboratory furniture market. An extensive global research done on the market also strives to highlight the key market trends in the laboratory furniture Industry that are likely to propel its growth during the forecast period. Competitive analysis of manufacturers in the laboratory furniture market by our top researchers perhaps remains the most vital ingredient in giving insights about mergers, acquisitions, research and development, and technological innovations. These allow competitors maneuverability to accelerate their growth in the right direction.
Statistical assessments of laboratory furniture market growth have been carried out in terms of value (US$ Mn) and volume (Million Units).
Laboratory Furniture Market – Key Questions Answered
Authors of this report at Transparency Market Research, through a comprehensive study and intelligent analytics, have arrived at some key questions that give business stakeholders a holistic and refreshing perspective of the laboratory furniture landscape. Through statistical analysis, detailed figures have been arrived at, which describe the growth of the laboratory furniture market. Influential insights help answer critical questions, some of which are listed below:
- What are the key factors that are influencing the laboratory furniture market in each region?
- What are the prevalent trends/opportunities/drivers/restraints, and how do they affect the future scope of the laboratory furniture market?
- What are the revenue portfolios and key strategies of major market players who manufacture laboratory furniture?
- What are the revenue figures of the global laboratory furniture market by product, end user, distribution channel, and region?
- What kind of regulatory frameworks have been adopted in the arena of laboratory furniture, and how will these shape-shift the market?
- What are the major developments that will take place in the laboratory furniture market during the forecasted period of 2019- 2027?
Laboratory Furniture Market: Research Methodology
Extensive research has been carried out using both, primary and secondary research parameters. Information on the laboratory furniture market has been sourced from Transparency Market Research’s internal repositories as well as client-specific databases. Qualitative and quantitative information on the laboratory furniture sector is then extracted by exhaustive research. Demand analysis of laboratory furniture across regions and countries is done. Our research has been lauded and widely sought-after, thanks to the infinite supply of information that we obtain from company websites, industrial publications, white papers, and government statistics. Face-to-face discussions give us valuable inputs in the planning stage of the research. Key opinion leaders, distributors, and vendors also aid us in analyzing the demand-supply gap, if any.
Laboratory Furniture Market: Segmentation
In order to understand the finer and broader nuances of the market, the segmentation of the laboratory furniture market has been done on the basis of product, end user, distribution channel, and region. This is one way by which incremental opportunities can be assessed in the market landscape.
Laboratory Stools and Chairs
Laboratory Storage Cabinets
Pedestal Laboratory Furniture
Laboratory IPS Units
School and College Laboratories
Middle East and Africa