PUBLISHER: The Business Research Company | PRODUCT CODE: 1270428
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270428
“Process Analyzer Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on process analyzer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for process analyzer ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The process analyzer market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the market are ABB Limited, AMETEK Incorporated, Endress + Hauser Management AG, Emerson Electric Company, Siemens AG, Thermo Fisher Scientific Incorporated, Yokogawa Electric Corporation, Mettlet-Toledo International Incorporated, Cemtrex Incorporated, Teledyne Technologies International Corporation, Hach Lange GmbH, Applied Analytics Incorporated, Honeywell International Inc., and Labcompare.
The global process analyzer market is expected to grow from $6.62 billion in 2022 to $7.02 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The process analyzer market is expected to grow to $8.69 billion in 2027 at a CAGR of 5.5%.
The process analyzer market consists of sales of conductivity analyzers, conductivity sensors, dissolved oxygen analyzers, dissolved oxygen sensors, gas analyzers, gas density or purity analyzers, liquid analyzers, oxygen analyzers, PH and ORP analyzers, PH and ORP sensors, process gas chromatographs, diode laser spectrometers, and turbidity analyzers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Process analyzers assist in the analysis of a product during processing by determining its chemical composition, boiling temperature, freezing point, viscosity, pressure, and color. It compares the sample to a known calibration to determine if the product is contaminated, as any contamination can disrupt the sample's properties.
Asia-Pacific was the largest region in the process analyzer market in 2022. The regions covered in the process analyzer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
A process analyzer's major types of analysis are online analysis, inline analysis, and atline analysis. Online analysis refers to an inspection that takes rapid-fire metric measurements and sends them straight to data-gathering software. The material states used in the analysis are liquid and gas. It is used by several end-users, such as oil and gas, chemicals, pharmaceuticals, mining, food and beverage, and power generation.
The increasing demand for wastewater treatment for various industries is propelling the process analyzer market. Wastewater treatment is a process that eliminates as many suspended materials as possible before releasing the leftover water (effluent) back into the environment. Process analyzers are used in the detection of any impurities during wastewater treatment. For instance, in March 2022, according to a report published by the World Health Organization, a Switzerland-based responsible international public health, 2 billion people worldwide consume contaminated drinking water, which can spread diseases and is projected to cause 485,000 diarrheal deaths yearly. Furthermore, the UN aims to provide universal coverage of essential drinking water services by 2030. Therefore, the increasing demand for wastewater treatment will drive the process analyzer market.
Technological advancement is a key trend in the process analyzer market. Major companies operating in the process analyzer market are focused on innovating new technologies to sustain their position in the market. For instance, in April 2020, Hioki, a Japan-based manufacturer of electrical test and measuring instruments, introduced Process Analyzer Pro. The software program Process Analyzer Pro loads numerous sets of test results from flying-probe testers used to examine empty circuit boards, conducts statistical analysis, displays the underlying data, and uses artificial intelligence (AI) to spot anomalies. Statistical data can be used to provide feedback to design and production processes, for example, by identifying and resolving the primary causes of errors, in order to enhance quality. Additionally, hidden flaws that might escape detection by traditional testing techniques can be found using this software.
In June 2022, Process Insights, a US-based manufacturer of analytical instrumentation, process control, and water analysis, acquired the assets of the Process Analyzers business from Schneider Electric for an undisclosed amount. This acquisition will enable Process Insights to better serve its customers globally by enhancing the company's position as a manufacturer of comprehensive on-line process and laboratory analytical instrumentation. Schneider Electric is a France-based company that specializes in digital automation and energy management.
The countries covered in the process analyzer market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The process analyzer market research report is one of a series of new reports from The Business Research Company that provides process analyzer market statistics, including process analyzer industry global market size, regional shares, competitors with a process analyzer market share, detailed process analyzer market segments, market trends and opportunities, and any further data you may need to thrive in the process analyzer industry. This process analyzer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.