Industry Analysis & Industry Trends
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Laboratory fume hood manufacturers will return to growth after being hurt by low R&D expenditure during the recession. The industry's performance is directly tied to revenue for businesses and laboratories; when their revenue drops, they will not invest in new lab equipment such as fume hoods. Therefore, as the economy begins to revive and companies invest in new products, demand for laboratory fume hoods will rebound. Further, exports will take off as research capabilities in China and the rest of Asia grow.
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Industry Report - Industry SWOT Analysis Chapter
IBISWorld estimates that the Laboratory Fume Hoods Manufacturing industry is in the mature stage of its life cycle. Over the 10 years to 2016, the industry's contribution to the economy is projected to grow at an average yearly rate of 1.4%, representing similar growth to US GDP (2.0%).
An increase in firm consolidations has occurred during the past five years, and this trend is expected to continue in the next five years. Because larger industry players make more profit, bigger firms will continue to buy smaller firms. These bigger firms are able to offer a wider range of services to a larger number of clients. The number of enterprises is expected to decline at an average annual rate of 0.4% over the 10 years to 2016. Industry employment is also forecast to fall at a rate of 0.1% p... purchase to read more