Laboratory Casework Manufacturing in the US Industry Market Research Report from IBISWorld Has Been Updated

While rising imports levels are expected to challenge the industry, strong export growth will provide a significant opportunity for expansion. For these reasons, industry research firm IBISWorld has updated a report on the Laboratory Casework Manufacturing industry in its growing industry report collection.

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Industry revenue is growing consistently as R&D spending rises and exports increase.

New York, NY (PRWEB) August 11, 2014

The Laboratory Casework Manufacturing industry experienced shaky conditions over the past five years. This industry manufactures laboratory casework furniture, including cabinets, cases, benches, tables and fixtures. As the economy retreated into a recession, demand for industry products fell and revenue declined. “When revenue for businesses and laboratories declined, they were no longer able to justify investing in new laboratory furniture,” according to IBISWorld Industry Analyst Dmitry Diment. Although the economic recovery has facilitated revenue growth since 2011, demand for industry products has been consistently undercut by rising import penetration. Consequently, industry revenue is expected to stagnate over the five-year period, growing at a mere 0.1% per year on average to $1.3 billion. Nonetheless, continued economic improvement is expected to encourage stronger industry growth in 2014, with revenue forecast to rise 1.9%.

Research and development (R&D) spending is tied to total corporate profit and therefore shifts in line with the overall economy. R&D expenditure fell during the recession, resulting in lower investment in laboratory casework purchases, replacements and laboratory expansions (which also necessitate casework purchases). However, R&D expenditure is estimated to rise at an annualized rate of 1.9% over the five-year period, reinvigorating demand for laboratory furniture. “Nonetheless, rising import penetration undermined revenue growth, as manufacturers' continued to relocate operations abroad to take advantage of lower wages,” says Diment. Imports are estimated to account for 49.1% of domestic demand in 2014, compared with 39.7% in 2009.

Over the five years to 2019, the industry is projected to grow more consistently as downstream companies invest in new products again. To accommodate robust R&D expenditure, businesses will increase demand for laboratory furniture. While rising imports levels are expected to challenge the industry, strong export growth will provide a significant opportunity for expansion. Exports are forecast to increase during the five years to 2019, primarily due to rising demand for US laboratory casework products in emerging nations.

For more information, visit IBISWorld’s Laboratory Casework Manufacturing in the US industry report page.

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IBISWorld industry Report Key Topics

Operators in this industry manufacture laboratory furniture (casework), including cabinets, cases, benches, tables and fixtures. This industry excludes dental laboratory furniture as well as laboratory seating.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.


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  • Gavin Smith
    IBISWorld
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