Process Analyzer Market Analysis, Growth Trends, and Future Forecasts until 2023

Global Process Analyzer Market is Projected to reach USD 3 billion at a CAGR of over 6% by the end of the forecast period 2017-2023.

Key Players

Some of the prominent players in the global process analyzer market are 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.), and Yokogawa Electric Corp. (Japan) among others.

Market Highlights

The global process analyzer market is projected to witness a rapid growth during the forecast period owing to increasing demand for process analyzers across various application areas such as water & wastewater, food & beverages, pharmaceuticals among others. Moreover, increasing demand for process analyzers across various industries such as oil and gas is driving the market growth.

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The global Process Analyzer Market by geography is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America market holds the largest share of the global process analyzer market and is also expected to witness significant growth during the forecast period. The U.S and Canada are anticipated to drive the growth of the process analyzer market in North America region owing to the presence of large number of established key players such as GE Analytical Instruments, Honeywell International, Inc., Mettler-Toledo International Inc., Teledyne Technologies, Inc., The Emerson Electric Company, and Thermo Fisher Scientific, Inc. among others in this region. Due to sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. The growth of the market is also attributed to rapid growth in modernization and the subsequent rising adoption of process quality control. In the global process analyzer market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to increasing demand for process analyzers across different industries such as oil & gas, pharmaceuticals, among others across different countries in the region. Also, with a considerable increase in disposable income, the consumption of oil has eventually increased which has further led to an increase in oil output from oil refineries and is boosting the growth of process analyzer market in the region.

Segments

The global process analyzer market is segmented by type, service, and industry. Based on the type, the market is segmented into pH/ORP analyzers, conductivity analyzers, near-infrared analyzers, turbidity analyzers, dissolved oxygen analyzers, chlorine analyzers, liquid density analyzers, MLSS analyzers, TOC analyzers, aluminum analyzers, ammonia analyzers, fluoride analyzers, and others. Based on the service, the market is segmented into pre-sales and post-sales. The pre-sales segment is further classified into start-up & commissioning services and technical support services. Whereas, the post-sales segment is further classified into parts & spares services, preventive maintenance services and on-site training services. Whereas, based on industry, the market is segmented into oil & gas, petrochemical, pharmaceuticals, water & wastewater, power generation, food & beverages, semiconductor processing, pulp & paper, metal & mining, and others.

Regional Analysis

The global process analyzer market is studied in Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The growth of the market in North America is attributed to technological advancements and increased adoption of process analyzer applications across various industries such as oil & gas, petrochemical, pharmaceuticals, and water & wastewater among others.

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Intended Audience

• Technology Investors
• Research/Consultancy Firms
• Government Bodies
• Consulting Service Providers
• Technology Providers
• System Integrators
• Process Analyzer Equipment Products and Solutions Providers
• Process Analyzer Systems Related Service Providers

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This release was published on openPR.