New York, USA, May 01, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Process Analyzer Market Research Report: By Type, Service, Industry– Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 11.58 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 8.26% during the assessment timeframe.
Process Analyzer Market Key Players
Eminent market players profiled in the global process analyzer market report include-
- ABB Ltd. (Switzerland)
- Endress+Hauser AG (Switzerland)
- GE Analytical Instruments (U.S.)
- Hach Lange GmbH (Germany)
- Honeywell International, Inc. (U.S.)
- Mettler-Toledo International Inc. (U.S.)
- Teledyne Technologies, Inc. (U.S.)
- The Emerson Electric Company (U.S.)
- Thermo Fisher Scientific, Inc. (U.S.)
- Yokogawa Electric Corp. (Japan).
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Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 11.58 Billion |
| Growth Rate | CAGR of 8.26% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Increasing adoption of process analyzers across various industry verticals such as oil & gas and pharmaceuticals is fueling the market growth |
| Key Market Drivers | The rise in need for process analyzes for waste water treatment can support the growth of the global process analyzer market |
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Process Analyzer Market Drivers
Growing Requirement for Wastewater Treatment Plants to Boost Market Growth
Since industrial wastewater is characterized by high concentration of salts, particles, and toxic substances that are hazardous to the environment, there is an increasing need for wastewater treatment plants. The requirement for wastewater treatment and disposal is being accelerated by the growing water crisis, which is also fueling market expansion.
Process Analyzer Market Opportunities
Increasing use in Pharmaceutical Industry to offer Robust Opportunities
The increasing use of process analyzer in the pharmaceutical industry will offer robust opportunities for this market in the assessment period. Fluid density meters are used in the pharmaceutical business to compute the relative densities of liquid samples and estimate the permeability of the solid pharmaceutical substances. Density measurements are essential for meeting quality control standards and determining the final condition of solids/dispersion compositions in the fluids that have undergone evaluation and/or production in a pharmaceutical plant.
Restraints and Challenges
High Cost to act as Market Restraint
The high process analyzer cost and dearth of skilled professionals may act as market restraints over the forecast period.
Process Analyzer Market Segmentation
The global process analyzer market is bifurcated based on industry, service, and type.
By type, pH/ORP analyzers will lead the market over the forecast period.
By service, the market is bifurcated into post-sales and pre-sales.
By industry, power generation will domineer the market over the forecast period.
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COVID-19 Analysis
The COVID-19 epidemic had a favorable effect on the market for process analyzers. There is a great demand during the pandemic to adhere to drug safety and develop excellent medications using innovative technology. As a result, a lot of pharmaceutical firms implemented process analyzers to adhere to drug safety regulations in order to boost sales. Because of this, there was a market for process analyzers throughout the COVID era. Also, the rapid use of automation and cutting-edge technology in pharmaceutical organizations has significantly increased market demand. Market shares decreased as a result of the lockdown in 2020, which delayed the manufacturing process. The market for process analyzers has recently experienced a boom in demand, nevertheless.
Regional Analysis
North America to Head Process Analyzer Market
The highest market share now belongs to North America. This is anticipated to persist for the time frame covered by this report. This is because the North American region, particularly the USA & Canada, has industries that are utilizing processes and technologies that are advancing technologically. As a result, they must use more sophisticated process analyzers in greater numbers. In the North American region, more and more complex process analyzers are being adopted and used by the oil and gas, pharmaceutical, power generation, food and beverage, and industries. Due to the large number of established key players present in this region, including Honeywell International, Inc., GE Analytical Instruments, Mettler-Toledo International Inc., The Emerson Electric Company, Teledyne Technologies, Inc., and Thermo Fisher Scientific, Inc., the U.S. and Canada are expected to lead the growth of the process analyzer market in North America. The market is anticipated to have tremendous expansion in the next years as a result of the region's stable and established economies. The United States and Canada are the market leaders in North America as a result of advancing technology and a growth in the use of process analyzers within the region's oil & gas industries. The expanding application areas of process analyzers across many industry verticals, including pharmaceuticals, power generation, water & wastewater, and food & beverages, amid others, are a significant factor fueling the growth of the process analyzer market in the region.
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APAC to Have Admirable Growth in Process Analyzer Market
Throughout the time period which this report covers, the Asia-Pacific region is anticipated to have exceptional growth in the process analyzer market size. Because their production processes and industries are advancing rapidly in terms of technology, China, India, and Japan in particular are utilizing process analyzers at record-breaking rates. The majority of global manufacturers also produce exclusively in China and India because of these countries' significantly lower labor and production costs than in other regions of the world. The market's expansion is also linked to modernization's quick advancement and process quality control's ensuing rise in popularity. Due to the rising demand for process analyzers across various industries, including oil & gas, pharmaceuticals, and others across various countries in the region, Asia Pacific is predicted to experience a relatively quicker adoption at the maximum CAGR in the forecast period in comparison to other regions. Also, as disposable income has expanded significantly, so has oil consumption, which has ultimately increased oil production from oil refineries and is driving the expansion of the market in this region. The usage of process analyzers & solutions is anticipated to increase significantly over the course of the forecast period in nations like China, India, and Japan.
The APAC market is anticipated to expand as a consequence of widespread advancements and technical developments in the manufacturing sector. Moreover, the North American region, followed by Europe and Asia Pacific, is anticipated to hold the largest share of the market in 2030. This might be ascribed to the increased technological advancements and expanding use of process analyzers in the region's oil & gas industries.
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