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The global process analyzer market exhibited moderate growth during 2015-2020. Process analyzers are electronic tools used for the examination of various industrial processes. They primarily determine the chemical composition and physical properties of substances to enable process optimization and asset protection. They also analyze the liquid and gaseous content in a product at the time of manufacturing. The liquid analyzers are used for monitoring process chemistry including fluid quality, whereas the gas analyzers monitor industrial, natural and process gas streams. They can also withstand harsh environments and extreme climatic conditions. Owing to these benefits, process analyzers find extensive application across oil and gas, chemical, petrochemical and pharmaceutical industries.
The growing oil and gas industry represent one of the key factors driving the growth of the market. Furthermore, there is a growing need for wastewater treatment plants since the industrial wastewater is characterized by high concentrations of salts, particles and toxic chemicals, which are harmful to the environment. The increasing water shortage is catalyzing the need for the treatment and disposal of wastewater, which is also contributing to the market growth. Additionally, manufacturers are increasingly adopting analyzers to constantly monitor production processes for optimizing the usage of resources and reducing the amount of waste generated. Manual inspection techniques are rapidly being replaced to reduce losses caused by human errors and, in turn, is providing a thrust to the market growth. Similarly, the adoption of process analysis tools by the pharmaceutical industry is acting as a growth-inducing factor. Other factors, including rapid automation of industrial processes, coupled with the favorable government policies to ensure better production and quality of industrial products, are projected to drive the market further. Looking forward, the global process analyzer market is expected to grow at a CAGR of 3.6% during 2021-2026.
IMARC Group’s latest report provides a deep insight into the global process analyzer market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the process analyzer industry in any manner.
Breakup by Product Type:
Based on the product type, the market has been majorly segmented into gas analyzers and liquid analyzers. Gas analyzers currently account for the highest market share.
Breakup by End-Use Industry:
Based on the end-use industry, power and wastewater treatment represent the major end-use industries for the liquid analyzers, while, oil and gas represent as the largest end-use industry for the gas analyzers.
Breakup by Region:
On the geographical front, North America currently represents the biggest market for process analyzers.
The report has also analysed the competitive landscape of the market with some of the key players being ABB, AMETEK Process Instruments, Cemtrex Inc., Emerson Electric, Endress+Hauser AG, GE Analytical Instruments, Hach Lange GmbH, Honeywell, Mettler Toledo, Schneider Electric, Siemens AG, Teledyne Technologies International Corp., Thermo Fisher Scientific, Yokogawa Electric, etc.
Key Questions Answered in This Report:
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