Laboratory Furniture Market Research Report Data analysis by Product (Laboratory Tables, Laboratory Stools & Benches, Laboratory Desk & Storage Cabinets, Pedestal Laboratory Furniture, Laboratory IPS Units, Biological Safety Cabinets, Fume Hoods, and Others), by Material (Plastic, Metal, Stainless Steel, Wood, and Others), by End User (School & Colleges Laboratory, and Medical Laboratory), and by Region (North America, Europe, Asia-Pacific, and Rest of the World – Industry Forecast till 2032
Market SynopsisIn 2023, the laboratory furniture market was estimated to be worth USD 1.92 billion. The laboratory furniture market is expected to increase at a compound annual growth rate (CAGR) of 4.30% between 2024 and 2032, from USD 2.0 billion in 2024 to USD 2.92 billion by 2032.
The market for laboratory furniture is expected to grow as a result of government financing for schools and colleges, increased investment in R&D, increased investment in pharmaceutical R&D, and an increase in safety requirements.
The government's support of schools and colleges has a big impact on the laboratory benches. This factor has a significant influence on how much demand there is for educational lab furniture. The market for laboratory furniture is mostly driven by government financing for educational institutions. Governments all over the world fund schools and universities with the goal of giving students access to state-of-the-art, fully furnished laboratories for hands-on, research-based learning. The demand for laboratory furniture designed for educational environments is directly impacted by this financial support. More financing for laboratory infrastructure is also a result of government programs to improve education and promote creativity and research in universities and schools. This in turn fuels the need for safe and useful laboratory furniture, which guarantees that students can conduct experiments and research efficiently. Government support makes it possible for educational institutions to refurbish their current laboratories in addition to setting up new ones. This frequently entails replacing old, uncomfortable furniture with more contemporary, ergonomic, and eco-friendly ones. Manufacturers of educational laboratory furniture profit from this consistent demand as a result, giving universities and schools the tools they need to set up comfortable learning spaces.
Insights on market segmentsLab tables, lab stools & benches, lab desk & storage cabinets, pedestal laboratory furniture, lab IPS units, biological safety cabinets, fume hoods, and other items are included in the product-based segmentation of the lab furniture market.
Plastic, metal, stainless steel, wood, and other materials are included in the segmentation of laboratory workstations depending on material.
The medical and school & college labs are included in the segmentation of laboratory storage solutions depending on end user.
Regional PerspectivesThe market is divided into four regions by the study: North America, Europe, Asia-Pacific, and the Rest of the World. In 2022, the market share that was largest was held by the lab furniture market in North America. Major manufacturers are said to be present in North America. With the biggest market share of 41.00% in 2022, North America is expected to grow at a compound annual growth rate of 4.73% to reach a projected USD 1,194.62 million by 2032.
The second-largest market share in Europe was held by the lab furniture market, which can be attributed to expanding R&D and healthcare spending. Additionally, the laboratory furniture provider in Germany is said to have the most market share, while the laboratory furniture provider in France is anticipated to have the highest rate of growth in the European Union.
From 2024 to 2032, the laboratory furniture market in Asia-Pacific is anticipated to grow at the highest rate because of the region's abundance of research organizations, low labor and manufacturing costs, expanding healthcare infrastructure, and quickening technological breakthroughs. Furthermore, China accounted for the most proportion of the market, and India is expected to develop at the fastest rate in the Asia-Pacific region for laboratory furniture.
Principal PlayersKey players in the Laboratory Furniture market are Air Master Systems Corp (US), Genie Scientific (US), BMC, Inc. (US), CiF Lab Solutions LP (Canada), Lab Crafters (US), Kewaunee International Group (US), Mott Manufacturing Ltd. (Canada), Lab Master Systems Corp (US), and WALDNER Holding SE & Co. KG (Germany).