The global conduction vaporizers market is expected to grow at a CAGR of 15% during the forecast period of 2024 to 2032. 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 as 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 A Number of 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, a number of foreign nations and jurisdictions are likely to legalize medical marijuana within the next several years. In June 2023, 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 2023

Portable cannabis vaporizers retain a higher share of the market due to its 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 2023

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 2023, 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 2023, 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, 2023, 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, 2023. 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.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Conduction Vaporizers market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Conduction Vaporizers market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Conduction Vaporizers market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Conduction Vaporizers market?
• Which is the largest regional market for Conduction Vaporizers market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Conduction Vaporizers market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Conduction Vaporizers market worldwide?