(MENAFN – America News Hour) The global e-cigarette & vaporizer market is segmented into product type such as disposable e-cigarette, rechargeable e-cigarette, e-go and tanks e-cigarette, personal vaporizers & mods and others. In this segment, rechargeable e-cigarette segment is projected to grow at remarkable pace over the forecast period. Increasing development and innovation of vapor technology is expected to drive the demand for rechargeable e-cigarette segment over the forecast period.
Global e-cigarette & vaporizer market is expected to flourish at a significant CAGR of 23.6% over the forecast period. Further, the global e-cigarette & vaporizer market was valued at USD 9.1 Billion in 2016 and is expected to reach USD 49.0 Billion by the end of 2024. Moreover, the global e-cigarette & vaporizer market is projected to expand due to the rising number of cancer cases due to cigarette consumption. Apart from this, increasing number of individuals wanting to quit smoking is anticipated to boost the growth of global e-cigarette & vaporizer market in upcoming years.
In the regional market, North America dominated the overall e-cigarette & vaporizer market and is expected to continue its dominance over the forecast period. Growing disposable income, rising number of e-cigarette & vaporizer stores is anticipated to accelerate the growth of global e-cigarette & vaporizer market in North America. Asia Pacific e-cigarette & vaporizer market is anticipated to witness robust growth during the forecast period. Further, increasing healthcare awareness in the developed regions is believed to positively impact the growth of the e-cigarette & vaporizer market in Asia Pacific.
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Advancement in E-cigarette Technology
Growing innovation & development of e-cigarette & vaporizer technology, as an alternative to traditional cigarettes to decrease the health problems caused by tobacco smoking is anticipated to drive the growth of global e-cigarette & vaporizer market over the forecast period. Additionally, rising number of vape shops and designated stores is augmenting the expansion of global e-cigarette & vaporizer market across all regions.
Increasing Healthcare Awareness
Tobacco controls programs by the government organizations are rising the healthcare awareness among population. These factors are increasing the demand for the e-cigarette & vaporizer market. Further, rising healthcare awareness coupled with increasing adoption of e-cigarettes & vaporizer is expected to encourage the adoption of global E-cigarette & Vaporizer market in near future.
However, heavy tax rates imposition by the government and unregulated manufacturing process in China are likely to dampen the growth of global e-cigarette & vaporizer market during the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global e-cigarette & vaporizer market which includes company profiling of Electronic Cigarette International Group, Vape Escapes, Dash Vapes, Hubbly Bubbly Ltd., Liquideu, Nice Vapor, Puff ECIG, Vapor Line, Simple Vape C0. Ltd. and Pacific Smoke International. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global e-cigarette & vaporizer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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