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Laboratory Temperature Control Units Market Size

Report ID: GMI4681
Published Date: Nov 2024
Report Format: PDF

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Laboratory Temperature Control Units Market Size

The global laboratory temperature control units market size was valued at USD 630.3 million in 2023 and is estimated to grow at 5.5% CAGR from 2024 to 2032. Laboratory temperature control units regulate temperature conditions during experiments. These units utilize various devices to either heat or cool objects as needed.

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Increasing demand for temperature control devices in industries like pharmaceuticals, healthcare, biotechnology, chemicals, and food processing is driving significant growth in the market for laboratory temperature control units. These sectors require precise, efficient, and reliable temperature management solutions for their scientific processes. For instance, with 23,179 biotechnology companies operating globally in 2024, the demand for precise temperature control in diverse biotech applications becomes evident, driving the need for laboratory temperature control units.

Laboratory Temperature Control Units Market Report Attributes
Report Attribute	Details
Base Year:	2023
Laboratory Temperature Control Units Market Size in 2023:	USD 630.3 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.5%
2032 Value Projection:	USD 1 Billion
Historical Data for:	2021 - 2023
No. of Pages:	140
Tables, Charts & Figures:	183
Segments covered:	Product, Modality, End Use, and Region
Growth Drivers:	Increasing demand for temperature control devices across industries Technological advancements in temperature control devices Rising R&D expenditure across the globe Focus of industry players on developing novel laboratory products
Pitfalls & Challenges:	Lack of awareness regarding availability of advanced temperature controller in developing regions High cost of laboratory temperature control units

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Moreover, industry players are continually innovating temperature control units, adding features like enhanced accuracy, quicker response times, wider temperature ranges, and better connectivity. For instance, in 2020, Huber Kältemaschinenbau showcased its Chili Heating Circulation Thermostat, boasting a temperature range of 65 to 300 °C and a stability of +/-0.02 K, making it ideal for both research laboratories and process industries.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of laboratory temperature control units reached USD 630.3 million in 2023 and is estimated to grow at a 5.5% CAGR from 2024 to 2032, driven by rising demand for temperature control devices across various industries.

The laboratory circulators segment held a 25.2% market share in 2023, as they are commonly used to regulate the temperature of samples, fluids, and equipment across various sectors.

The portable/handheld segment is anticipated to grow at a 6% CAGR during the forecast period, led by their flexibility and mobility for diverse applications.

The U.S. market is projected to reach USD 284.8 million by 2032, propelled by the country's advanced healthcare infrastructure.

Key players include Bio-Rad Laboratories, Delta T Systems, Eurodifroid, FRYKA-K