According to the latest report by IMARC Group, titled “Process Analyzer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global process analyzer market size reached US$ 2.03 Billion in 2019. Process analyzers are automatic instruments that are used to determine the physical and chemical composition of the substances involved in industrial processes. They provide faster measurement results with better repeatability than laboratory analysis. Also, process analyzers do not require any human intervention and easily adapt to their environment. Nowadays, manufacturers are developing more cost-effective product variants with better designs and performance to evaluate gases, liquids, and solids.
Global Process Analyzer Market Trends:
Process analyzers help to continually monitor production processes for optimizing the usage of resources and reducing the amount of waste generated. Owing to this, there has been a rise in the demand for these analyzers for the treatment and disposal of wastewater. As a result of their growing applications, several advancements have been made by the manufacturers to enhance the methods for analyzing a given substance or product and determining its composition. In addition to this, the leading companies are creating innovative solutions to minimize laboratory budgets, increase product yields, and comply with regulations to ensure improved production and quality of food and beverages. They are also introducing new technologies to perform rapid laboratory gas chromatography (GC) analysis, which significantly minimizes analysis time. Apart from this, they are embedding analyzers with sensors to perform numerous functions, including proportional-integral-derivative (PID) control and system health monitoring, which further lower instrument maintenance requirements. On account of these factors, the market value is projected to reach US$ 2.82 Billion by 2025, expanding at a CAGR of 5.7% during 2020-2025.
- Based on the type, the market has been segmented as liquid and gas analyzers. Gas analyzers currently dominate the market, holding the largest market share. The major technologies used in these gas analyzers are electrochemical, zirconia, tunable diode laser, infrared, paramagnetic, catalytic and others.
- On the basis of the end use industry, power and wastewater treatment represent the major end use industries for liquid analyzers. On the other hand, oil and gas represents the largest end use industry for gas analyzers.
- Region-wise, North America holds the leading position in the market and is further bifurcated into the United States and Canada. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined, with some of the key players being ABB Group, AMETEK, Inc., Cemtrex, Inc., Emerson Electric Co., Endress+Hauser Management AG, GE Analytical Instruments, Hach Lange GmbH, Honeywell, Mettler Toledo, Schneider Electric, Siemens AG, Teledyne Technologies International Corp., Thermo Fisher Scientific and Yokogawa Electric.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Phone No: (D) +91 120 433 0800 | www.imarcgroup.com
Americas :- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331