The environmental test chambers market is projected to grow at a slowest pace during the forecast period. Japan’s industry will see growth of 1%, while South Korea expects inflation rate (CAGR) 0 .7%. Asia Pacific accounts for moderate revenue share in target companies’ sector followed closely by Europe with an expected CAGRs between 1-2%
NEWARK, Del: According to FMI Analysts, the environmental test chambers market is estimated to be valued at US$ 880 Mn in 2022 and is anticipated to reach US$ 1.2 Bn by 2032, growing at a CAGR of 3%.As per the FMI’s latest report on environmental test chambers market, constant technological improvements and tight regulatory criteria are expected to boost the growth of the environmental test chambers market.
Due to the need to ensure optimal quality of end-use products and monitor the effects of various climatic stress factors, the demand for environmental test chambers is continuously expanding. Environmental test chambers have evolved from simple analog chambers controlled by dials to advanced digital chambers controlled by programmable controllers, and these new trends in the environmental test chambers market are the primary reasons propelling the sales of environmental test chambers.
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These environmental test chambers have advanced substantially in recent years, thanks to improved technology and newer refrigerants. As a result, the demand for environmental test chambers is expected to significantly increase during the projection period.
Furthermore, over the years, environmental test chamber manufacturers have focused on developing better, bigger, and faster chambers capable of completing testing on a wide range of products. During the years 2022-2032, this aspect is expected to drive market sales of environmental test chambers even further.
Additionally, in the current environmental test chambers market outlook, shorter product lifecycles and frequently changing testing needs are the key restraints of the industry, which are limiting the environmental test chambers market’s growth.
KEY TAKEAWAYS:
- With a CAGR of 3.2 percent, the temperature and humidity chambers segment is expected to have the largest market share by 2032.
- The market for environmental test chambers in the automotive industry is expected to grow at a CAGR of 3.2 percent by 2032.
- With a CAGR of 2.8 percent, the US market is expected to maintain its dominance in the global environmental test chambers market.
- Asia Pacific is predicted to account for a moderate revenue share of the target market, followed by Europe.
- United Kingdom environmental test chambers market is projected to grow at an average momentum with a CAGR of 1.7%.
- China is predicted to hold a sizeable environmental test chambers market share with a CAGR of 2.3 percent.
- Japan environmental test chambers market is anticipated to grow at a CAGR of 1.4% during the forecast period.
- South Korea market for environmental test chambers is projected to rise at a slowest pace with a CAGR of 0.7% during the forecast period.
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COMPETITIVE LANDSCAPE:
In the environmental test chambers market, acquisitions and partnerships & collaborations were two inorganic growth strategies used. These measures have cleared the way for market participants to expand their client base and revenue.
Key players in the environmental test chambers market are likely to benefit from favourable growth prospects in the future, thanks to rising sales of environmental test chambers in the global sector.
Some of the environmental test chambers market players profiled in the FMI’s report are ESPEC, Thermotron Industries, Weiss Technik UK, Binder GmbH, and Cincinnati Sub-Zero Products Inc.
Recent Developments in the Environmental Test Chambers Market
- In June 2018, Binder introduced the BINDER cell and module test chambers for ageing and performance testing.
- In July 2021, Weiss Technik announced that their Danfoss AKV electronic expansion valves for use in environment test chambers had passed their tests.
- One of the leading manufacturers just released Binder Climatic Simulation and Photostability Test Chambers.
- Memmert debuted two temperature control appliances at ACHEMA 2018 that employ climate-neutral CO2 as the refrigerant (R744).
- QUALMARK CORPORATION (US), which manufactures, sells, and maintains HALT & HASS environmental test chambers, was acquired by ESPEC CORPORATION (Japan) in January 2016.
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Segments:
By Type:
- Temperature and humidity chambers
- Customized chambers
- Thermal shock chambers
- Others (AGREE chambers, altitude chambers, HALT and HASS chambers, sand and dust chambers; salt and spray chambers; and remote conditioners)
By Application:
- Aerospace and defence
- Automotive
- Telecommunications and electronics
- Medical and pharmaceuticals
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Risks and Trends Assessment
3.1. Risk Assessment
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
- Market Background and Foundation Data Points
4.1. Global Protective Coatings Market (US$ Mn)
4.2. Environmental Test Chambers Market Market Opportunity Assessment (US$ Mn)
4.3. Market Scenario Forecast
4.4. Investment Feasibility Analysis
4.5. Forecast Factors – Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Global Protective Coatings Market Growth
4.5.3. Environmental Test Chambers Market Adoption Rate, By Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
- Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
- Global Environmental Test Chambers Market Demand Analysis 2015-2021 and Forecast, 2022-2032
6.1. Historical Market Analysis, 2015-2021
6.2. Current and Future Market Projections, 2022-2032
6.3. Y-o-Y Growth Trend Analysis
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