NEW YORK, March 30, 2021 /PRNewswire/ —
The cleanroom storage cabinet market research from Technavio indicates positive growth in the short term as the business impact of COVID-19 spreads.
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“One of the primary growth drivers for this market is the rising investments in the healthcare industry,” says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the cleanroom storage cabinet market size to reach USD 241.04 million during the period 2021-2025.
Cleanroom Storage Cabinet Market Segment Highlights for 2020
- The cleanroom storage cabinet market is expected to post a year-over-year growth rate of 9.52%.
- Based on the end-user, the medical segment saw maximum growth in 2020. The medical segment includes various sub-segments such as pharmaceuticals, biotechnology, medical devices, life sciences, and hospitals. The increase in the use of cleanrooms in the medical industry, globally, coupled with the industry’s need for high-quality solutions worldwide, will drive the demand for cleanroom storage cabinets.
- The growth of the market segment will be significant over the forecast period.
Regional Analysis
- 47% of the growth will originate from the APAC region.
- The booming semiconductor and electronics fabrication and medical industries will facilitate the cleanroom storage cabinet market growth in APAC over the forecast period.
- China, Japan, and South Korea (Republic of Korea) are the key markets for cleanroom storage cabinets in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
Know about Report Detailed Analysis and Insights
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Notes:
- The cleanroom storage cabinet market size is expected to decelerate at a CAGR of almost 8% during the forecast period.
- The cleanroom storage cabinet market is segmented by end-user (Medical, Semiconductor, and Others) and geography (APAC, North America, Europe, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market shares.
- The research report offers information on several market vendors, including ACMAS Technologies Pvt. Ltd., Bosio Metal Specialties Inc., Clean Air Products, Clean Room Depot Inc., Clean Rooms International Inc., Cleatech LLC, GMP Technical Solutions Pvt. Ltd., McLennan & Company Filing & Storage Systems Ltd., Palbam AC Ltd., and Terra Universal Inc.
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Report Page: https://www.technavio.com/report/cleanroom-storage-cabinet-market-industry-analysis
SOURCE Technavio
