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Laboratory Fume Hoods Manufacturing in the US Industry Market Research Report Now Available from IBISWorld
Date:8/15/2014

(PRWEB) August 15, 2014

The Laboratory Fume Hoods Manufacturing industry manufactures ventilation devices that are designed to limit exposure to hazardous or noxious fumes, vapors or dusts. As the economy started showing signs of weakness and the United States retreated into a recession, fume hood manufacturers faced decreased demand for industry products. When revenue for businesses and laboratories fell, they could not justify investing in new lab equipment, which includes fume hoods. Although demand has picked up in line with the recovering economy, the recessionary decline has continued to weigh heavily on the industry. As a result, Laboratory Fume Hoods Manufacturing industry revenue is expected to stagnate over the five-year period, declining slightly at an annualized rate of 0.0% to $625.9 million.

Research and development (R&D) spending is tied to total corporate revenue. As a result, it fluctuates closely with the overall economy. According to IBISWorld Industry Analyst Dmitry Diment, “When revenue tightened during the recession, businesses cut back on funding research in order to develop new products.” Total R&D expenditure declined through 2010, and as a result, investment in laboratory and safety equipment, including fume hoods, dropped significantly. However, in 2011, economic conditions improved and corporate profit continued to recover. Consequently, total R&D expenditure rose 3.3% during that year. R&D is projected to continue to expand moderately over the five year period, growing 1.9% per year on average. Despite the slowed growth in R&D expenditure, the industry has benefited from new product offerings that save energy throug
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