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Vacuum Ovens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 139 Pages
  • July 2023
  • Region: Global
  • IMARC Group
  • ID: 5656628

Quick Summary:

Ubiquitous across diverse industries from aerospace to medical and cannabis cultivation, vacuum ovens stand out as crucial thermal process equipment. Known for heat treatment under an airtight vacuum, these sophisticated systems bring to the table benefits like prevention of surface reactions and residue removal, making them a versatile solution for meticulous control and enhanced performance.

The market for vacuum ovens is witnessing surges propelled by its everyday applications. Key sectors leveraging these devices include legalised cannabis growers, aiding in obtaining purified oil extracts, but with a mitigated risk of fire during processes. Likewise, the medical industry utilises vacuum ovens for the removal of potential body toxins, a feature prominently utilised in the development of medical devices like artificial heart valves or pacemakers. Aerospace, another major user, finds vacuum ovens essential for device evaluation against the high vacuum environment of space- a significant factor given today's space exploration efforts.

With regional insights spanning North America, Europe, Asia Pacific, and more, this report dives deep into each segment, offering comprehensive evaluation and forecasting data on product types and applications; it also assesses key players and provides a detailed competitive landscape overview that can be key for various stakeholders, from researchers, consultants, business strategists to investors and entrepreneurs.

The global vacuum ovens market size reached US$ 234.3 Million in 2022. Looking forward, the publisher expects the market to reach US$ 343.2 Million by 2028, exhibiting a growth rate (CAGR) of 6.38% during 2023-2028.

A vacuum oven is an extremely versatile equipment that has applications in laboratory research, engineering, and industry. In vacuum ovens, the process of heat treatment takes place inside an airtight vessel. This enables a vacuum to be drawn inside the vessel. The entire heat-treating procedure can be initiated under vacuum or precisely controlled environments can be introduced. Heat treating under vacuum can provide numerous advantages such as:
  • It can prevent surface reactions like oxidation or decarburization
  • It can remove surface contaminants like oxide films and residual traces of lubricants
  • It can add a substance to the surface layers of the work
  • It can remove dissolved contaminating materials from metals by degassing
The rise of the vacuum oven market largely relies on the legalised use of cannabis in considerable parts of the world and the commercialisation that materializes with it. For the legalised cannabis growers, vacuum ovens help them to process cannabis extract BHOs (Butane Hash oil). Through these vacuums, the growers get purified oil extract, along with a reduced risk of fire while performing the entire process. The vacuum ovens are also used in the medical industry to remove chemicals that are possibly toxic to the human body. This process is essentially compelling for embedded medical devices like artificial heart valves, pacemakers and even joints. In addition to this, these ovens are also used in order to comprehend how a device will react to the high vacuum environment of space, which makes them a viable equipment for the aerospace industry.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global vacuum ovens market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and application.

Breakup by Product Type:

  • < 200
  • 200-300
  • >300
Based on the product type, the market has been segmented into < 200, 200-300 and >300.

Breakup by Application:

  • Home Appliances
  • Commercial Appliances
Based on the application, the market has been segmented into home appliances and commercial appliances.

Regional Insights:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America
Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players being Cole-Parmer, Memmert GmbH+Co.KG, MTI Corporation, Sheldon Manufacturing Inc, Thermo Fisher Scientific, Accumax India, BINDER GmbH, Cascade TEK, ESPEC, Grieve, JEIO, SalvisLab Renggli, Shanghai Hasuc Instrument, Ted Pella and Yamato Scientific.

This report provides a deep insight into the global vacuum ovens market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the vacuum ovens industry in any manner.

Key Questions Answered in This Report:

  • How has the global vacuum ovens market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global vacuum ovens industry?
  • What has been the impact of COVID-19 on the global vacuum ovens industry?
  • What is the breakup of the global vacuum ovens market on the basis of product type?
  • What is the breakup of the global vacuum ovens market on the basis of application?
  • What are the price trends of vacuum ovens?
  • What are the various stages in the value chain of the global vacuum ovens market?
  • What are the key driving factors and challenges in the global vacuum ovens market?
  • What is the structure of the global vacuum ovens market and who are the key players?
  • What is the degree of competition in the global vacuum ovens market?
  • How are vacuum ovens manufactured?
Frequently Asked Questions about the Global Vacuum Ovens Market

What is the estimated value of the Global Vacuum Ovens Market?

The Global Vacuum Ovens Market was estimated to be valued at $254.3 Million in 2022.

What is the growth rate of the Global Vacuum Ovens Market?

The growth rate of the Global Vacuum Ovens Market is 5.1%, with an estimated value of $343.2 Million by 2028.

What is the forecasted size of the Global Vacuum Ovens Market?

The Global Vacuum Ovens Market is estimated to be worth $343.2 Million by 2028.

Who are the key companies in the Global Vacuum Ovens Market?

Key companies in the Global Vacuum Ovens Market include Cobham, Garmin, Honeywell International, Collins Aerospace (United Technologies Corporation), Elbit Systems Ltd, Thales Group, Safran, Mercury Systems, Harris Corporation and Universal Avionics Systems.

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Vacuum Ovens Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product Type
5.5 Market Breakup by Application
5.6 Market Breakup by Region
5.7 Market Forecast
5.8 SWOT Analysis
5.8.1 Overview
5.8.2 Strengths
5.8.3 Weaknesses
5.8.4 Opportunities
5.8.5 Threats
5.9 Value Chain Analysis
5.9.1 Overview
5.9.2 Raw Material Procurement
5.9.3 Manufacturing
5.9.4 Marketing
5.9.5 Distribution
5.9.6 End-Use
5.10 Porters Five Forces Analysis
5.10.1 Overview
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
5.11 Price Analysis
6 Market Breakup by Product Type
6.1< 200
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 200-300
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 >300
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Application
7.1 Home Appliances
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Commercial Appliances
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Europe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Asia Pacific
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 Vacuum Ovens Manufacturing Process
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success and Risk Factors
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 Cole-Parmer
10.3.2 Memmert GmbH+Co.KG
10.3.3 MTI Corporation
10.3.4 Sheldon Manufacturing Inc
10.3.5 Thermo Fisher Scientific
10.3.6 Accumax India
10.3.7 BINDER GmbH
10.3.8 Cascade TEK
10.3.9 ESPEC
10.3.10 Grieve
10.3.11 JEIO
10.3.12 SalvisLab Renggli
10.3.13 Shanghai Hasuc Instrument
10.3.14 Ted Pella
10.3.15 Yamato Scientific
List of Figures
Figure 1: Global: Vacuum Ovens Market: Major Drivers and Challenges
Figure 2: Global: Vacuum Ovens Market: Sales Value (in Million US$), 2017-2022
Figure 3: Global: Vacuum Ovens Market: Breakup by Product Type (in %), 2022
Figure 4: Global: Vacuum Ovens Market: Breakup by Application (in %), 2022
Figure 5: Global: Vacuum Ovens Market: Breakup by Region (in %), 2022
Figure 6: Global: Vacuum Ovens Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 7: Global: Vacuum Ovens Industry: SWOT Analysis
Figure 8: Global: Vacuum Ovens Industry: Value Chain Analysis
Figure 9: Global: Vacuum Ovens Industry: Porter’s Five Forces Analysis
Figure 10: Vacuum Ovens Market: Price Structure (in %)
Figure 11: Global: Vacuum Ovens (< 200) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Vacuum Ovens (< 200) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Vacuum Ovens (200-300) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Vacuum Ovens (200-300) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Vacuum Ovens (>300) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Vacuum Ovens (>300) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Vacuum Ovens (Home Appliances) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Vacuum Ovens (Home Appliances) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Vacuum Ovens (Commercial Appliances) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Vacuum Ovens (Commercial Appliances) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: North America: Vacuum Ovens Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: North America: Vacuum Ovens Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Europe: Vacuum Ovens Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Europe: Vacuum Ovens Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Asia Pacific: Vacuum Ovens Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Asia Pacific: Vacuum Ovens Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Middle East and Africa: Vacuum Ovens Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Middle East and Africa: Vacuum Ovens Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Latin America: Vacuum Ovens Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Latin America: Vacuum Ovens Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Vacuum Ovens Manufacturing: Detailed Process Flow
List of Tables
Table 1: Global: Vacuum Ovens Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Vacuum Ovens Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 3: Global: Vacuum Ovens Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: Vacuum Ovens Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Vacuum Ovens Manufacturing: Raw Material Requirements
Table 6: Global: Vacuum Ovens Market: Competitive Structure
Table 7: Global: Vacuum Ovens Market: Key Players

Companies Mentioned

  • Cole-Parmer
  • Memmert GmbH+Co.KG
  • MTI Corporation
  • Sheldon Manufacturing Inc
  • Thermo Fisher Scientific
  • Accumax India
  • BINDER GmbH
  • Cascade TEK
  • ESPEC
  • Grieve
  • JEIO
  • SalvisLab Renggli
  • Shanghai Hasuc Instrument
  • Ted Pella
  • Yamato Scientific

Methodology

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