Global E-cigarette And Vape Market Size & Outlook
Global e-cigarette and vape market, 2018-2030 (US$M)
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Global e-cigarette and vape market highlights
- The global e-cigarette and vape market generated a revenue of USD 28,171.7 million in 2023 and is expected to reach USD 182,843.0 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 30.6% by 2030.
- In terms of segment, rechargeable accounted for a revenue of USD 12,250.4 million in 2023.
- Modular Devices is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 28,171.7 million |
| Market revenue in 2030 | USD 182,843.0 million |
| Growth rate | 30.6% (CAGR from 2023 to 2030) |
| Largest segment | Rechargeable |
| Fastest growing segment | Modular Devices |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Disposable, Rechargeable, Modular Devices |
Other key industry trends
- In terms of revenue, the North America accounted for 43.9% of the global e-cigarette and vape market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Germany is the fastest growing regional market and is projected to reach USD 1,589.7 million by 2030.
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E-cigarette And Vape Market Scope
E-cigarette And Vape Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global e-cigarette and vape market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to e-cigarette and vape market will help companies and investors design strategic landscapes.
Rechargeable was the largest segment with a revenue share of 43.48% in 2023. Horizon Databook has segmented the Global e-cigarette and vape market based on disposable, rechargeable, modular devices covering the revenue growth of each sub-segment from 2018 to 2030.
E-cigarettes in today's time have Temperature Control (TC) function that controls the coil temperature to produce large quantity of vapor and provide enhanced e-liquid flavor. Temperature control offers an enhanced vaping experience without burning the coil as it automatically cuts out the power when the coil exceeds a certain temperature.
Temperature control is an effective function in an e-cigarette, as it increases safety of the devices and it protects the coil that enables it to be used for a longer time thus saving cost. Temperature control mods further saves battery life by consuming less power thus reducing battery charging cycles and improving battery operational life.
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Target buyers of Global e-cigarette and vape market databook
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Our clientele includes a mix of e-cigarette and vape market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global e-cigarette and vape market , including forecasts for subscribers. This global databook contains high-level insights into Global e-cigarette and vape market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global e-cigarette and vape market size, by regions, 2018-2030 (US$M)
Top 10 countries: E-cigarette and vape market size, 2023 (US$M)
Global e-cigarette and vape market share, by product, 2023 & 2030 (%, US$M)
E-cigarette and vape market: Opportunity assessment by country
Global e-cigarette and vape market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 4,599.1 | 5,541.9 | 6,621.3 | 8,030.6 | 9,906.6 | 12,371.0 | 15,601.2 | 19,894.2 | 25,680.4 | 33,464.9 | 43,985.1 | 58,322.2 | 77,932.9 | 30.1% |
| Europe | 2,849.5 | 3,417.9 | 4,064.5 | 4,905.8 | 6,021.7 | 7,481.3 | 9,385.1 | 11,902.7 | 15,292.7 | 19,824.1 | 25,917.7 | 34,177.0 | 45,418.7 | 29.4% |
| Asia Pacific | 1,974.0 | 2,477.6 | 3,082.4 | 3,892.1 | 4,997.7 | 6,495.5 | 8,524.9 | 11,312.6 | 15,028.7 | 20,259.8 | 27,523.8 | 37,734.1 | 52,047.8 | 34.6% |
| Latin America | 550.1 | 640.2 | 737.7 | 861.4 | 1,021.2 | 1,222.8 | 1,474.8 | 1,793.2 | 2,205.7 | 2,727.9 | 3,391.4 | 4,236.7 | 5,311.3 | 23.4% |
| MEA | 289.1 | 333.2 | 379.7 | 437.7 | 511.1 | 601.2 | 710.0 | 841.7 | 1,017.7 | 1,225.4 | 1,477.0 | 1,776.7 | 2,132.3 | 19.8% |
| Overall | 10,261.8 | 12,410.8 | 14,885.5 | 18,127.6 | 22,458.2 | 28,171.7 | 35,695.9 | 45,744.3 | 59,225.1 | 77,502.0 | 102,295.0 | 136,246.6 | 182,843.0 | 30.6% |
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