Circulating Water Bath Market Report Overview
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The global circulating water bath market size was USD 83 million in 2022 and market is projected to touch USD 112.9 million by 2031, exhibiting a compound annual growth rate (CAGR) of 3.5% during the forecast period.
Using continuously circulating water, circulating water baths reach and maintain desired water temperatures for cooling or heating samples and reagents both efficiently and reliably. A microprocessor-based controller is used to control the operation of this equipment. Stainless steel construction is used for the lid, stirrer, control panel, and drain plug of the water bath. Among the features of today's models are touchscreen operation and built-in methods. The following factors should be considered when purchasing a lab circulator: temperature control accuracy, temperature uniformity, cooling and/or heating rates, and maintenance costs.
Despite the high cost of equipment, vendors are investing significantly in R&D, driving the growth of the circulating water bath market. By analyzing the drivers holistically, marketing strategies can be refined and end goals can be determined.
COVID-19 Impact: Halt on Machinery and Equipment to Hamper Market
As a result of COVID-19, the circulating water bath market growth has also been drastically affected. The market growth has been neutral during and after the post-COVID-19 era, based on our research findings. In addition to the increased investments in R&D by vendors, factors such as the high cost of equipment may inhibit the growth of the market. The COVID-19 pandemic and key market drivers have impacted the industry. In order to gain a competitive edge, the holistic analysis of the drivers will help in determining the end goals and refining marketing strategies. However, the ease of restrictions imposed during the lockdown is expected to have a positive impact on the overall circulating water bath market growth.
Latest Trends
"Equipment Flexibility of Circulating Water Bath to Drive Market Growth"
For better efficiency and cost savings, laboratories have been demanding more flexibility in almost all laboratory products. These type of water baths have been designed with features and accessories that enhance their versatility, allowing them to be used in a variety of laboratory processes. As a result, the raw materials used are rust-resistant and can be reused for a longer period of time, thereby reducing the user's expenses. Furthermore, the vendors are also working on reducing the cost of operation and energy consumption, since circulating water baths consume a large amount of energy. With the adoption of automation in laboratories, greater flexibility in equipment will allow greater compatibility, which will lead to a better flow of processes by minimizing laboratory downtime. During the forecast period, sales of these equipments will increase due to their flexibility and demand.
Circulating Water Bath Market Segmentations
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- By Type
The market is classified into low temperature circulating water bath, and constant temperature circulating water bath based on type. The low temperature circulating water bath segment will lead the circulating water bath market share throughout the forecast period.
- By Application
The market is classified into pharmaceuticals, biogenetics, and educational research on the basis of application. The pharmaceuticals segment will lead the circulating water bath market share throughout the forecast period.
Driving Factors
"Increasing R&D Investments to Drive the Market Growth"
Global circulating water baths market growth is attributed to vendors' increased investments in R&D. Over the past few years, global R&D spending has grown consistently. Research facilities are expected to grow in developed countries during the forecast period. During the forecast period, emerging markets will continue to focus on knowledge expansion and innovation, as well as increasing their investments in R&D. Furthermore, vendors are also working to upgrade their existing products with the latest technologies, such as automatic timers for efficient work scheduling and audible alarms for temperature deviations. Vendors have incorporated all these advantages into circulating water baths. The vendors are investing heavily in R&D, which will drive the growth of this market.
"Usage of the Device in Pharmaceuticals to Drive the Market"
Water baths are used in laboratories to heat samples. The device can be used to maintain cell lines or to heat flammable chemicals that might combust if exposed to open flames. Water baths generally consist of a heating unit, a stainless steel chamber for holding water and samples, and a control interface. In addition to keeping an even temperature, circulating water baths and shaking water baths keep the samples in motion while they are heated.
Restraining Factors
"High Equipment Costs of Circulating Water Bath to Restrain the Market"
According to the manufacturer and type of water bath, a laboratory water bath costs between $380 and $7,500. The cost of a regular circulating water bath is around $850. Service and maintenance fees will further increase the total cost of ownership, making it a relatively large investment. The cost of owning a water bath has decreased significantly over the past few years, but the cost will remain a challenge. Compared to average laboratory equipment of the same size, water baths use a higher amount of energy. Consequently, the high price may restrict buyers in developing countries, affecting the vendors' revenue. While the circulating water baths market is expected to grow during the forecast period, these factors will hamper its growth.
Circulating Water Bath Market Regional Insights
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"North America to Dominate the Market Owing to the Presence of More Market Players"
Globally, North America dominates the circulating water bath market. In addition to the growing demand for quality products and services, key players in the region have also contributed to the growth of the North American water bath market.
During the forecast period, Asia Pacific is expected to hold the second-largest market share. As demand for water baths from various end-use industries increases in Asia Pacific, this region is expected to grow strongly. Market growth in this area is also being supported by an increase in pharmaceuticals and biotechnology companies.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Grant Instruments (U.K.)
- JULABO (Germany)
- PolyScience (U.S.)
- Thermo Fisher Scientific (U.S.)
- Benchmark Scientific (U.S.)
- Cole-Parmer (U.S.)
- Boekel Scientific (U.S.)
- C&A Scientific (U.S.)
- Carolina Biological Supply (U.S.)
- Edvotek (U.S.)
- Heidolph (Germany)
- Peter Huber Kltemaschinenbau (Germany)
- Humboldt (U.S.)
- IKA Works (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 83 Million in 2022 |
Market Size Value By |
US$ 112.9 Million by 2031 |
Growth Rate |
CAGR of 3.5% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the circulating water bath market expected to touch by 2031?
The circulating water bath market is expected to reach a value of USD 112.9 million by 2031.
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What CAGR is the circulating water bath market expected to exhibit by 2031?
The circulating water bath market is expected to exhibit a CAGR of 3.5% by 2031.
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Which are the driving factors of the circulating water bath market?
Increasing R&D investments, and usage of the device in pharmaceuticals are some of the major driving factors of the circulating water bath market.
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Which are the top companies in the circulating water bath market?
The top companies in the market include Grant Instruments, JULABO, PolyScience, Thermo Fisher Scientific, and Benchmark Scientific, etc.