Research Report: E-Cigarette Device Market to Hit $34.29 Billion by 2031; Top Brands Now Hold Nearly Half the Share

Oct.16

Market research firm LP Information has released a global e-cigarette market report forecasting that the e-cigarette device market—including both disposable and reusable devices—will reach US$34.29 billion by 2031, with a 9.4% CAGR from 2025 to 2031.

Key Points at a Glance

LPI projects a 9.4% CAGR (2025–2031), reaching US$34.29 billion in 2031.
In 2024, the top 10 vendors by sales held a combined ~44% share.
Longer battery life & better temperature control, miniaturization, and the expansion of disposables, together with regulatory/certification frameworks, are shaping the industry’s trajectory.

2Firsts, October 16, 2025 — According to DreamNews, market research firm LP Information (LPI) has released the report Global E-Cigarette Device Market Growth (2025–2031), which finds that e-cigarette devices (including disposable and reusable products) continue to expand steadily, driven by technological advances and evolving regulation. The report forecasts a 9.4% compound annual growth rate for 2025–2031, with the market reaching US$34.29 billion by 2031.

研究机构报告：电子烟设备市场2031年规模将达342.9亿美元，头部品牌目前占据近半份额 — *Global e-cigarette device market size forecast | Image credit: DreamNews*

The report also outlines the competitive landscape and leading players. Based on 2024 research, the top 10 companies/brands account for about 44% of sales by revenue.

Representative market participants include: ELFBAR (brand), British American Tobacco (BAT), SKE Crystal (brand), Philip Morris International (PMI), Imperial Brands (formerly Imperial Tobacco), RELX (brand and company), Altria, Smoore International, Japan Tobacco (JT), and FirstUnion, among others.

In terms of product and application segments, the report categorizes types into e-cigarettes (Ecigs) and vaporizers, and applications by male and female users. It further notes that improvements in battery endurance and temperature control, device miniaturization, and the growth of disposable products, in concert with regulatory and certification requirements across regions, are jointly shaping the industry’s direction.

LP Information is a market research and consulting firm/report publisher founded in 2016, providing sector reports, custom research, and advisory services.

Cover image credit: DreamNews

References:

[1] 電子タバコ用デバイスの世界市場調査レポート:成長、収益、メーカー収入、販売、市場動向2025~2031年

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