New York, April 10, 2023 (GLOBE NEWSWIRE) -- As per a recent report by Reports Insights, the liquid analytical instrument market is ready for exponential expansion and is projected to hit around US$ 789.41 Million by 2030. The market, which was worth US$ 516.99 Million in 2022, is estimated to grow at a compound annual growth rate of 5.43% during the period 2023-2030. The report highlights factors such rising focus on quality control, growing awareness of environmental concerns, growing demand for process automation, and increasing focus on water and wastewater treatment. Reports Insights conducted a study on the liquid analytical instrument market, which offers an analysis of the competitive landscape, regional trends, market segmentation, and emerging technologies. The study aims to provide a comprehensive understanding of the market dynamics and factors driving its growth.
ReportsInsights Consulting Pvt. Ltd. released a comprehensive research report on the liquid analytical instrument market, which thoroughly examines key aspects including market size, value and supply chain, regulatory frameworks, and emerging trends. The report also delves into important categories such as type, application, end-use industries, and regional market dynamics to identify potential opportunities and new trends. This valuable data can assist companies in enhancing their competitive edge by focusing on strategic partnerships, product advancements, and mergers and acquisitions, to bolster their market position over other manufacturers.
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Rising investments and expansions by established market players to increase the usage of liquid analytical instruments, especially in water treatment facilities are estimated to create favorable circumstances for market growth over the forecast period. For instance, in March 2022, Yokogawa Electric Corporation announced that its subsidiary, Yokogawa Middle East & Africa, has secured an order from Addis Ababa Water and Sewerage Authority (AAWSA) to provide an integrated system for monitoring and managing water facilities. The AAWSA is responsible for providing wastewater treatment and water supply services to the Ethiopian capital city of Addis Ababa. Under this project, Yokogawa is expected to upgrade and supply new systems for monitoring various water facilities such as reservoirs, water treatment plants, pumping stations, transmission and distribution pipes, and related facilities.
Emerging economies, such as India and China, are expected to offer significant growth opportunities for the liquid analytical instrument market due to growing investments in technological advancements in manufacturing facilities. For instance, according to the data published by India Brand Equity Foundation, the Department for Promotion of Industry and Internal Trade (DPIIT) reported that foreign direct investment (FDI) inflows into India amounted to a total of US$ 58.77 billion in FY 2021-22.
Liquid Analytical Instrument Market Growth Drivers:
- The increasing demand from end-use industries such as pharmaceuticals, food and beverage, and water and wastewater treatment in terms of accurate and reliable instruments to measure various parameters such as pH, conductivity, dissolved oxygen, and turbidity, among others fuels the demand for liquid analytical instruments.
- Growing awareness about the importance of water quality among the general population along with major initiatives by governments, NGOs, and other organizations to ensure the safe quality of water boosts the demand for liquid analytical instruments in industries, municipalities, and households.
- Rising adoption of process automation across industries also propels the demand for liquid analytical instruments to control and monitor several applications in real-time.
Restraints
- High costs of liquid analytical instruments due to the presence of sophisticated and expensive components restrict the wide adoption of such instruments, especially among businesses with budget constraints.
- Significant maintenance and operational costs of liquid analytical instruments due to the constant requirement of calibrations restrict the market growth.
Competitive Landscape
As per the study, the market is dominated by leading market players such as Branom Instrument Company, Yokogawa India Ltd., ABB Group, and Emerson Electric Co. The market for liquid analytical instrument market is highly competitive, with market players competing for established positions in market circumstances. Such market players have the opportunity to introduce product innovations as well as form strategic collaborations with emerging market players to cater growing needs of efficient monitoring across various end use industries.
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Liquid Analytical Instrument Market Scope & Snapshot:-
| Report Attributes | Report Details |
| Market Size By 2030 | USD 789.41 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 5.43% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Branom Instrument Company, Yokogawa India Ltd., ABB Group, JUMO Instrument Company Ltd, Emerson Electric Co., Hach Company, Honeywell International Inc., Teledyne Analytical Instruments, Shimadzu Scientific Instruments, Analytical Systems Keco, LLC, Endress+Hauser Group Services AG |
| By Type | pH and ORP Analyzers, Conductivity Analyzers, Dissolved Oxygen Analyzers, Turbidity Analyzers, Liquid Density Analyzers, Others |
| By Application | Liquid Chemistry Monitoring, Drug Discovery, Wastewater Management, Water Purification, Others |
| By End Use Industry | Chemical Industry, Food and Beverage Industry, Wastewater Treatment Industry, Oil and Gas Industry, Pharmaceuticals Industry, Others |
| Report Coverage | Company Ranking and Market Share, Regional Competitive Landscape, Growth Factors, Total Revenue Forecast, Business Strategies, and More. |
| By Geography | North America [United States, Canada, Mexico] Asia-Pacific [China, Japan, India, Southeast Asia, Korea, Western Asia] South America [Brazil, Argentina, Columbia, Chile, Peru] Europe [Germany, UK, Turkey, Spain, France, Italy, Russia, Netherlands, Switzerland] Middle East & Africa [GCC, North Africa, South Africa] |
Rising need to integrate liquid analytical instruments as well as technologies within water treatment facilities is anticipated to offer lucrative opportunities for market growth over the forecast period. Such integration of reliable liquid analytical instruments within such facilities needs to be prioritized at first base due to the growing focus on water safety and sanitation needs. For instance, according to the World Bank Group, it is estimated that USD 114 billion per year is required to achieve Sustainable Development Goal 6 of safely managed water and sanitation for all by 2030. However, current investments for water and sanitation only amount to USD 28.4 billion per year, leaving a substantial funding gap of USD 85.6 billion.
The advancement in technology is also a major driver of the liquid analytical instrument market growth. Manufacturers are developing innovative instruments that are more accurate, reliable, and efficient. The scope of integrating new technologies such as wireless communication, cloud computing, and the Internet of Things (IoT) is also anticipated to open up new opportunities for the growth of the market over the forecast period.
Key Market Takeaways
- The global liquid analytical instrument market size is projected to reach over USD 789.41 Million by 2030 with a staggering CAGR of 5.43% during the forecast period (2023-2030).
- Based on type, the pH and ORP analyzers segment held a dominant position in 2022 and is anticipated to maintain the lead over the forecast period.
- In the context of the application, the wastewater management segment contributed the highest shares to the liquid analytical instrument market statistics in 2022.
- Based on the end-use industry, the wastewater treatment industry segment accounted for the largest market share contribution in 2022.
- Europe is expected to offer favorable circumstances for the liquid analytical instrument market growth in terms of revenue due to growing investments and strict protocols, especially in terms of water treatment.
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Recent Developments
In March 2023, Honeywell launched Versatilis Transmitters, which are designed for monitoring the condition of rotating equipment such as compressors, motors, pumps, fans, gearboxes, and blowers. These transmitters offer valuable measurements of rotating equipment, providing insights that help improve safety, availability, and dependability across various industries.
In March 2023, Emerson introduced its latest series of ASCO Aluminum Filter Regulators, consisting of models 641, 642, and 643. These new products are designed to optimize process efficiency and minimize unplanned downtime in a wide range of process applications. The filter regulators are constructed with durable aluminum and are capable of managing the highest flow rates compared to other regulators in their class. Additionally, they offer accurate pressure regulation to downstream instruments.
List of Major Liquid Analytical Instrument Market Players
- Branom Instrument Company
- Yokogawa India Ltd.
- ABB Group
- JUMO Instrument Company Ltd
- Emerson Electric Co.
- Hach Company
- Honeywell International Inc.
- Teledyne Analytical Instruments
- Shimadzu Scientific Instruments
- Analytical Systems Keco, LLC
- Endress+Hauser Group Services AG
Global Liquid Analytical Instrument Market Segmentation:
- By Type
- pH and ORP Analyzers
- Conductivity Analyzers
- Dissolved Oxygen Analyzers
- Turbidity Analyzers
- Liquid Density Analyzers
- Others
- By Application
- Liquid Chemistry Monitoring
- Drug Discovery
- Wastewater Management
- Water Purification
- Others
- By End Use Industry
- Chemical Industry
- Food and Beverage Industry
- Wastewater Treatment Industry
- Oil and Gas Industry
- Pharmaceuticals Industry
- Others
Key Questions Covered in the Liquid Analytical Instrument Market Report
- What is the current market size of liquid analytical instruments and how has it changed over the last few years?
- What are the latest developments and trends in the liquid analytical instrument market, and how are they influencing the industry?
- What are the drivers of growth in the market for liquid analytical instrument, and what challenges are hindering its growth?
- What potential opportunities are available in the liquid analytical instrument market, and what factors are expected to drive its growth in the future?
- How competitive is the liquid analytical instrument industry, and what factors will impact its competitiveness in the future?
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