DUBLIN–(BUSINESS WIRE)–The “Conduction Vaporizers Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 To 2031” report has been added to ResearchAndMarkets.com’s offering.
The global conduction vaporizers market is expected to grow at a CAGR of 15% during the forecast period of 2023 to 2031.
As more individuals learn about the health benefits of vaporization and the dangers of smoking, the demand for vaporizers increases. In turn, this is fuelling the expansion of the market for conduction vaporizers.
In general, conduction vaporizers are less expensive than convection vaporizers, making them more accessible to a greater number of consumers. Manufacturers are always enhancing the appearance and performance of conduction vaporizers, making them more user-friendly and efficient.
During the projected period, the global conduction vaporizers market is anticipated to be driven by an increase in medical and recreational cannabis consumption. Portable cannabis vaporizers with a wide range of flavor options, a quality design, and a high charging capacity are attracting users worldwide. The market expansion is being fuelled by the lucrative presence of key manufacturers supplying vaporizers with improved features. Several nations have authorized cannabis for medical use. The demand for cannabis vaporizers with temperature control features is increasing, as these vaporizers produce a tasty and smooth effect. To generate revenue, businesses are concentrating on offering cannabis dealers and medical suppliers the most effective vaporizers. Innovative cannabis vaporizers are anticipated to incorporate cutting-edge technologies like Bluetooth and voice activation from major manufacturers.
Increased Adoption of Safer Substitutes for Cigarettes
It is believed that the ingredients in cannabis vaporizers are safer, healthier, and less hazardous than those in cigarettes. In addition, cannabis vaporizers produce clean, pure vapor that is more enjoyable than smoking cigarettes. Cannabis vaporizers heat the plant to a temperature at which the psychoactive components are released when the vapor is breathed. These gadgets do not generate any hazardous substances. As a result, the cannabis vaporizers market prediction predicts that the global market would expand at a quick rate throughout the time of forecast. According to the Canadian Centre on Substance Use and Addiction, the legal retail cannabis industry is growing rapidly, from $ 148 million in December 2019 to close to $350 million in December 2021. Diverse vaporizers and electronic cigarettes have become more popular methods of cannabis consumption, especially in places that authorize cannabis usage for recreational purposes.
According to an analysis conducted by Canada.ca, the most prevalent mode of cannabis intake reported by consumers over the past 12 months was smoking. According to its report, the use of vape pens and electronic cigarettes climbed by 24% in 2021. Global demand for medical cannabis vaporizers is increasing significantly. As vaping is viewed as a preferable alternative to smoking, demand for cannabis vaporizers is anticipated to expand significantly throughout the forecast period. This is likely to have a favorable effect on the market share of cannabis vaporizers.
Legalization Of Cannabis in Several Nations
The legalization of cannabis for medical or recreational use in countries such as South Africa, Jamaica, the Netherlands, Canada, Uruguay, The Czech Republic, Costa Rica, Colombia, Spain, and Belize is a major driver of demand for cannabis vaporizers. In these countries, adults over the age of 18 are permitted to ingest up to a few grams of cannabis. Given the potential medical benefits of cannabis, several foreign nations and jurisdictions are likely to legalize medical marijuana within the next several years. In June 2022, the Thai government formally removed marijuana from the Narcotics Act’s list of controlled substances. Thus, Thailand became the first country in Asia to legalize marijuana.
Increasing Popularity of Conduction Heating
Conduction vaporizers are more convenient and cost-effective; thus, they are projected to lead the market over the projection period. Similarly, conduction vaporizers can rapidly heat up. Convection heating is also a highly efficient technology. The induction heating method is new and unusual in the majority of countries throughout the world. It permits cooler vapor that is gentler on the user’s lungs. Consequently, conduction vaporizers are anticipated to increase in popularity in the coming years.
Portable Conduction Vaporizers Dominating the Market by Product Type in 2022
Portable cannabis vaporizers retain a higher share of the market due to their portability and customizable herb and drug vaporization. In addition, technological advances in portable cannabis vaporizers, such as temperature control vaporizers, which let users adjust the temperature for optimal flavor, will help portable vaporizers dominate the market. The domination of portable cannabis vaporizers as a result of the aforementioned factors and changing regional policies will result in an increase in their significance in the long-term forecast.
North America Remained the Global Leader in 2022
Due to the legalization of cannabis for both medical and recreational use in Canada, the market demand for cannabis vaporizers is expanding steadily in this region. This is propelling the market dynamics of cannabis vaporizers in the region. Rapid growth in cannabis usage in the region is anticipated to boost the expansion of the cannabis vaporizers market in North America over the forecast period. The United States is a developing market for cannabis vaporizers due to the region’s users’ significant positive network externalities. In addition to consumer spending, regional policies have a significant impact on this industry. Twelve states in the United States have allowed cannabis use for recreational reasons as of 2022, and the demand to legalize cannabis usage in other states is increasing. The expansion of the U.S. market will parallel that of the North American market.
Canada also contributes significantly to the market for cannabis vaporizers. Since the legalization of cannabis for both recreational and medical use in Canada, the market has flourished throughout the country. As of 2020, the United States and Canada collectively account for a sizable portion of the global market’s revenue, giving North America 49.2% of the market. With new technical breakthroughs in cannabis vaporizers, the recreational and medical demand for cannabis vaporizers in Canada is only going to increase.
Competition to Intensify During the Forecast Period
The global market for conduction vaporizers is moderately fragmented, with the majority of important manufacturers maintaining a strategic emphasis on innovation and new product development. STORZ & BICKEL GmbH, Ghost Vapes Inc., SLANG Worldwide Inc., DaVinci, PAX Labs Inc., Vapium Inc., Boundless Technology, and others are key competitors in the conduction vaporizers market. Companies in the global market for cannabis vaporizers are investing heavily in extensive R&D initiatives, particularly to develop unique products. Apollo AirVape, Ghost Herbal Concepts Ltd., Grenco Science, KANDYPENS, STORZ & BICKEL GmbH, Kanabo LTD, PurTec Delivery Systems, CiiTECH, VapeMeet Inc., and SLANG Worldwide are key competitors in the global market.
Some of the key market developments include the following:
- On 31 December 2022, King Palm introduced portable THC vaporizers. The company is increasingly focusing on portable vaporizers for cannabis and concentrates. The new vaporizer has 510-threaded THC oil cartridges, a USB-C charger that quickly recharges the 650mAh battery, and three voltage settings for managing battery life and flavor.
- On November 22, 2022, Dr. Dabber unveiled the revolutionary portable vaporizer XS Nano eRig. This pocket-sized and portable vaporizer is intended for use with cannabis concentrates.
- Grenco Science introduced G Pen Hyer, a revolutionary cannabis vape, on November 15, 2022. The G Pen Hyer is designed to function with both cannabis concentrates and cannabis flowers. The new device was introduced in retail outlets and online across the nation. The product boasts intelligent heating technology with constant temperature output, enabling a consistent and efficient vaping session every time.
Market Segmentation
Product
- Portable
- Desktop
Material
- Dry herb
- Wax
- Oil
- Others
Price
- Premium
- Economy/Mid-Range
Heat Up Time
- 10 seconds or less
- 20-60 seconds
Sales Channel
- Online
- Offline
Key Topics Covered:
1. Preface
2. Executive Summary
3. Conduction Vaporizers Market: Competitive Analysis
4. Conduction Vaporizers Market: Macro Analysis & Market Dynamics
5. Conduction Vaporizers Market: By Product, 2021-2031, USD (Million)
6. Conduction Vaporizers Market: By Material, 2021-2031, USD (Million)
7. Conduction Vaporizers Market: By Price, 2021-2031, USD (Million)
8. Conduction Vaporizers Market: By Heat Up Time, 2021-2031, USD (Million)
9. Conduction Vaporizers Market: By Sales Channel, 2021-2031, USD (Million)
10. North America Conduction Vaporizers Market, 2021-2031, USD (Million)
11. UK and European Union Conduction Vaporizers Market, 2021-2031, USD (Million)
12. Asia Pacific Conduction Vaporizers Market, 2021-2031, USD (Million)
13. Latin America Conduction Vaporizers Market, 2021-2031, USD (Million)
14. Middle East and Africa Conduction Vaporizers Market, 2021-2031, USD (Million)
15. Company Profile
Companies Mentioned
- Apollo AirVape
- Ghost Herbal Concepts Ltd.
- Grenco Science
- KANDYPENS
- STORZ & BICKEL GmbH
- Kanabo LTD
- PurTec Delivery Systems
- CiiTECH
- VapeMeet Inc.
- SLANG
For more information about this report visit https://www.researchandmarkets.com/r/14zswc
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