As of 2023, China's imports of laboratory electric furnaces and ovens were valued at approximately 1.50 thousand units. The forecast for 2024 shows a slight decrease to 1.23 thousand units. A consistent declining trend follows, culminating in a significant reduction to 0.1881 thousand units by 2028. In year-over-year terms, 2025 will see a downturn of 22.13%, accelerating to 27.30% in 2026, and reaching a peak decline of 57.19% in 2028. Over five years, the compounded annual growth rate (CAGR) is expected to illustrate a stark negative trajectory for this sector in China.
Future trends to watch for:
- Technological advancements potentially reducing the need for imports.
- China's domestic manufacturing capability improvements.
- Trade policy changes affecting import rates.
- Shifts in demand within scientific research and industrial applications.
