SAN FRANCISCO, Aug. 10, 2017 (GLOBE NEWSWIRE) -- The Global Cleanroom Technology Market Report, published by Variant Market Research, forecast that the global market is expected to reach $5,171 million by 2024 from $3,474 million in 2016, growing at a CAGR of 5.1% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 6.0% and 5.1%, respectively, during the forecast period.
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Factors such as increase in demand from pharmaceutical sectors and stringent safety rules & regulation are augmenting the growth of the global cleanroom technology market. Likewise, growing consumer awareness, which has led to a surge in demand for quality products, is also boosting the market growth. However, high installation and maintenance costs may hinder the market. Escalating consumer requests for customized cleanroom technology are projected to provide new opportunities for the market players in the near future.
Type, construction, application, and geography are the various classifications of the global cleanroom technology market, analyzed in the report. Equipment and consumables are the various classifications of the type segment. Hardwall cleanrooms, softwall cleanrooms, standard/drywall cleanrooms, and terminal boxes/pass through cabinets are the classifications of the construction segment. The application segment is categorized into medical devices, pharmaceuticals, biotechnology, and others.
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Equipment generated maximum revenue in the overall type segment in 2016. The consumables segment is projected to grow at the fastest growth rate during the forecast period 2016 – 2024. In 2016, hardwall cleanrooms and standard/drywall cleanrooms together accounted for the majority of the market revenue in the overall construction segment. In the application segment, pharmaceuticals accounted for maximum revenue in 2016, and the fastest CAGR is expected to be in the medical devices segment.
The geographical analysis of the market includes North America, Europe, Asia-Pacific, and Rest of the world (RoW). North America generated maximum revenue in 2016, accounting for more than one-third of the global market share. The region accounted for 38.3% share in 2016, followed by Europe with 30.1%. The fastest growth rate is attained by Asia-Pacific, owing to rapid industrialization and increasing awareness about certified products in the region.
Major key players operating in the global cleanroom technology market are, Kimberly-Clark Corporation, Alpiq Group, Clean Air Products, Illinois Tool Works, Taikisha, Ltd., E.I. du Pont de Nemours and Company, Ardmac Ltd., Azbil Corporation, Ardmac Ltd., M+ W Group, and Royal Imtech N.V., among others.
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Scope of the Global Cleanroom Technology Market
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Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data packs proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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