Fume Extractor Market to Reach $1.9 Billion, Globally, by 2032 at 4.4% CAGR: Allied Market Research
The growth of the global fume extractor market is majorly driven by an increase in occupational health and safety regulations and the growing emphasis on workplace safety
PORTLAND, Ore., July 21, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Fume Extractor Market By Type (Portable Fume Extractors, Benchtop Fume Extractors, Welding Fume Extractors, Soldering Fume Extractors, Laser Fume Extractors and Others), By End-use Industry (General Manufacturing, Electricals and Electronics, Pharmaceuticals, Automotive and Aerospace, Construction, and Others), By Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis And Industry Forecast, 2023-2032". According to the report, the fume extractor market was valued for $1.3 billion in 2022 and is estimated to reach $1.9 billion by 2032, exhibiting a CAGR of 4.4% from 2023 to 2032.
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Prime determinants of growth
The growth of the global fume extractor market is majorly driven by an increase in occupational health and safety regulations. Governments and regulatory bodies are implementing stricter regulations to protect the health and safety of workers. These regulations often require the use of fume extractors or similar ventilation systems in industries where hazardous substances are present. The growing emphasis on workplace safety is driving the demand for fume extractors. However, high production cost of fume extractors is expected to hamper the market growth.
Report Coverage & Details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2022 |
Market Size in 2022 |
$1.3 billion |
Market Size in 2032 |
$1.9 billion |
CAGR |
4.4 % |
No. of Pages in Report |
250 |
Segments covered |
Type, End-use Industry, and Region. |
Drivers |
Increase in demand for fume extractors in several industries Strict regulations on occupational exposure to hazardous substances |
Opportunities |
Surge in demand for fume extractors from the manufacturing sector |
Restraints |
High production cost of fume extractors |
The welding fume extractors segment maintained its lead position during the forecast period
Based on type, the welding fume extractors segment accounted for the largest share in 2022, contributing to around two-fifths of the global fume extractor market revenue, due to increasing emphasis on workplace safety and health regulations across industries. Welding produces hazardous fumes and particles that can pose serious health risks to workers if inhaled. Welding fume extractors help remove these pollutants from the air, ensuring a safer working environment and reducing the potential for respiratory issues and long-term health problems. However, the laser fume extractors segment is anticipated to grow at the highest CAGR of 5.0% during the forecast period.
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The general manufacturing segment maintained its lead position during the forecast period
On the basis of the end-use industry, the general manufacturing segment dominated the largest market share in 2022 contributing to more than two-fifths of the global fume extractor market revenue, due to growing recognition of the importance of providing a safe working environment for employees. Manufacturers are becoming more aware of the potential health hazards associated with various manufacturing processes, including welding, soldering, grinding, and cutting. Fume extractors play a crucial role in removing harmful fumes, gases, and particulate matter from the air, thereby protecting workers' health. However, the automotive and aerospace segment is anticipated to grow at the highest CAGR of 5.1% during the forecast period.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global fume extractor market. Asia-Pacific is anticipated to register the highest CAGR of 4.8% during the forecast period, due to the highly developed electronic sector in China and the continuous investments are done in the region through the years to advance the electronic sector.
Leading Market Players: -
- American Air Filter Company, Inc
- APZEM Inc
- Cleantek
- Sentry Air Systems, Inc.
- Quatro Air Technologies Inc.
- HAKKO Corporation
- Apollo Seiko
- Span Filtration Systems Pvt. Ltd.
- Powertech Pollution Controls
- Donaldson Company, Inc.
The report provides a detailed analysis of these key players in the global fume extractor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Want to Access the Statistical Data and Graphs, Key Players' Strategies:
https://www.alliedmarketresearch.com/fume-extractor-market/purchase-options
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