Global Vacuum Ovens Market Flourishes with Expected Valuation of $343.2 Million by 2028; Robust CAGR of 6.38% Foreseen
DUBLIN, Sept. 15, 2023 /PRNewswire/ -- The "Vacuum Ovens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global vacuum ovens market exhibited strong growth in 2022, reaching a total valuation of US$ 234.3 million. According to this report the market is poised for continued expansion, with expectations to reach US$ 343.2 million by 2028. This growth reflects a robust compound annual growth rate (CAGR) of 6.38% during the forecast period from 2023 to 2028.
Vacuum ovens, highly versatile equipment with applications in laboratory research, engineering, and industry, play a pivotal role in the heat treatment process. These ovens conduct heat treatment within an airtight vessel, allowing the creation of a vacuum within the chamber. This capability enables precise control over the heat treatment process and offers several advantages, including:
The vacuum oven market's growth is closely tied to the legalization of cannabis in many parts of the world and the subsequent commercialization of related products. Vacuum ovens play a crucial role for legal cannabis growers in processing cannabis extract BHOs (Butane Hash oil).
These ovens enable the production of purified oil extracts while reducing the risk of fires during the extraction process. Furthermore, vacuum ovens are used in the medical industry to eliminate potentialy toxic chemicals from medical devices, including artificial heart valves, pacemakers, and joint implants. These ovens also find application in testing how devices respond to the high vacuum environment of space, making them valuable equipment for the aerospace industry.
Key Market Segmentation:
The global vacuum ovens market report by [Publisher Name] analyzes key trends within each sub-segment and provides forecasts at the global and regional levels for the period from 2023 to 2028. The market is segmented based on product type and application.
The report offers a comprehensive analysis of the competitive landscape, featuring key players such as 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 in-depth insights into the global vacuum ovens market, covering macro overviews, micro details of industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, and more. It is a crucial resource for entrepreneurs, investors, researchers, consultants, business strategists, and anyone involved or planning to enter the vacuum ovens industry.
Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/4o5qer
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