PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1477025
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1477025
Key Highlights
The process analyzer market generated a value of USD 7,912.3 million in 2023, which will rise to USD 10,099.8 million, with more than 3.5% compound annual growth rate, by 2030.
The increasing need for wastewater treatment is a key factor boosting the growth of this industry.
The demand for wastewater treatment plants is increasing because industrial waste is high in toxic chemicals, salts, and various other dangerous particles.
The shortage of water for human consumption is boosting the requirement for wastewater treatment, therefore aiding the industry's expansion.
The dropping accessibility of freshwater is because of the disturbed weather patterns because of pollution-made climate change.
Increasing consciousness to conserve water, enhance the effectiveness of water supply systems, and employ rainwater harvesting and wastewater treatment tactics boosts the industry expansion.
Wastewater plants utilize different kinds of process analyzers to track the chemicals existing in the water.
To offer safe drinking water to people globally, several businesses have started funding for water and wastewater treatment plants.
The acceptance of AI, smart technology, and automation in the manufacturing sector is also playing a key part in driving the industry forward.
Market Insights
The mixed-liquid suspended-solid (MLSS) category will advance at the highest compound annual growth rate during this decade. These variants are mainly employed in environmental monitoring as well as wastewater treatment.
pH/ORP variants led the liquid analyzers category in 2023, with a 25% share.
This can be mainly because of the rising acceptance of these products in the oil & gas sector to measure the alkalinity, acidity, and ORP of liquids.
The total organic carbon (TOC) category was a significant contributor to the industry because industries often use these variants to track the quality of raw water feedstock and process water, to avoid corrosion in critical systems.
In 2023, oxygen analyzers generated approximately USD 3 billion in revenue. The amount of oxygen existing plays an important part in deciding whether the combustion of a fuel is lean or rich.
The pharmaceuticals category was the largest contributor to the industry in 2023, with a 30% share. This is because of the stringent regulatory policies for pharmaceutical products.
The metals & mining category will propel at a robust rate during this decade. Process analyzers play a key part in monitoring and managing various production procedures, guaranteeing overall operational effectiveness, and maintaining safety and quality.
APAC accounted for the dominating position of the industry in 2023, generating over USD 3.5 billion.
This is mainly because of the development of the manufacturing base because of the relocation of the manufacturing facilities of several international companies across different sectors, encouraged by easy access to skillful workers and cost-effective labor.
North America will propel at a 3.8% compound annual growth rate in the years to come. This will be mainly because of the improving g technologies as well as the introduction of many new models.
Europe accounted for a significant share of the industry, due to the increasing need for wastewater treatment, itself because of the increase in the level of urbanization.