Industry Background:
Cannabis vaporizers are devices used to heat concentrates or cannabis flowers at temperatures that will flip them into vapor. Cannabis vaporizers square measure primarily used for medical and recreational functions. The legalization of vaping for medical and recreational uses in several countries can foster market growth over the approaching years. It is also employed in The recreational industry, which includes pubs and bars.
According to AMA Research, the market for Cannabis Vaporizers is expected to register a CAGR of 16.8% during the forecast period to 2030. This growth is primarily driven by Legalization Of Cannabis in Several Countries for Medical Purposes and Adopting A Policy Of Decriminalization For Recreational Purposes
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electronic Equipment & Instruments sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as PAX Labs, Inc. (United States), STORZ & BICKEL GmbH & Co. KG (United States), Arizer (Canada), Apollo Vaporizers Inc. (United States), KandyPens, Inc. (United States), SLANG Worldwide Inc. (Canada), DaVinci (United States), Ghost Herbal Concepts Ltd (United States), Grenco Science (United States) and Boundless Technology LLC (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In November 2023, The Cannabist Company, which is one of the biggest retailers, cultivators, and manufacturers located within the US, disclosed that they have formed a new partnership with Airo, a company that specializes in vaporizer products
In December 2023, Cronos Group Inc. launched of its highly anticipated Lord Jones® Live Resin Vapes in two different hardware options. Crafted with the discerning cannabis consumer in mind, these products embody a commitment to excellence, offering an unmatched combination of curated strains, pure live resin, and elegant high-quality hardware.Key players are adopting numerous strategy to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnership to adopt certain technologies and acquiring small players to finish competition in the future. As well as investing money in R&D sector to make technical up-gradations in the manufacturing process of the product.
Influencing Trend:
Rechargeable Vaporizers Manufacturing from Companies and Mergers and Partnerships with Cannabis Manufacturers
Market Growth Drivers:
Legalization Of Cannabis in Several Countries for Medical Purposes and Adopting A Policy Of Decriminalization For Recreational Purposes and Rising Popularity for Vaporizers or Vapes for Smoking Due to Advanced Features
Challenges:
Availability of Substitutes in Market
Restraints:
Stringent Government Regulations regarding Cannabis
Opportunities:
Rising Popularity of Alternative to Cigarettes and Conventional Cannabis Smoking Methods and Increasing Investments in Vapes from Private Cannabis Producers
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Cannabis Vaporizers Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Cannabis Vaporizers Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Cannabis Vaporizers players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cannabis Vaporizers Study Sheds Light on
The Cannabis Vaporizers Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Cannabis Vaporizers industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cannabis Vaporizers industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.