Moisture Analyzer Market 2024 – Sales Revenue, Grow Pricing and Industry Growth Analysis (SARS-CoV-2, Covid-19 Analysis)
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Moisture Analyzer Market. The growth sectors of the Moisture Analyzer Market are identified with precision for a better growth perspective.
Acknowledging the quadrupling traction, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global moisture analyzer market is poised to reach the valuation of USD 1.5 BN by 2023, registering a CAGR of 3.53% throughout the forecast period (2017-2023). In 2017, the market had evaluated at USD 1.2 BN.
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Moisture analyzer, also known as moisture meter, is a device that can trace amounts of moisture content in any medium (solid, liquid, gas). A moisture meter is an irreplaceable device in most of the burgeoning industries such as plastic & polymer, constructions, agriculture, food & beverage, fabrics & textiles, and pharmaceuticals, among others. Resultantly, the moisture analyzer market garners significant traction on the global platform witnessing a substantial demand.
Additional factors that are substantiating the growth of the market include growing process automation in developing countries, rise in demand for in-line moisture analyzers, and technological advancements in heat-based moisture analyzing.
The stringent government regulations regarding food quality and the pressing need to maintain the specific moisture content in the packaged edible product is a key driving force behind the growth of the market.
For the scope of the study, the global moisture analyzer market, has been segmented based on type, application, and technique.
Segmented by type into desktop, handheld, and inline. The mobile segment held the biggest market share in the market for moisture analyzers. The handheld segment was the second largest market in 2018 but it is predicted that the inline segment will register the highest CAGR during the forecast period.
The market was segmented by Application into Plastics and Polymer, Building, Agriculture, Food And Beverage, Fabrics And Textiles, Pharmaceutics, and Others.
Based on the technique, the global market is segmented into Karl Fischer Titration, Loss-on-Dying, Power, Microwave, Near-Infrared, Radio Frequency and Others
The moisture analyzer market, based on region, has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
Throughout the study period North America is projected to lead the market for moisture analyzers followed by Europe. North America is the largest region in the moisture analyser industry in terms of market share. This area was further divided into the United States , Canada and Mexico. The US dominated the market for moisture analyzers followed by Mexico and Canada. Advances in industrial technology and development of the region's food & beverage industry are some of the factors that are responsible for the growth of the demand for moisture analysers. In addition, the presence of industry giants such as Mettler Toledo, General Electric, AMETEK.Inc, and Thermo Fisher Scientific Inc, is one of the driving factors for the growth of the market in this region. T Growth can be attributed to the rapid growth of the pharmaceutical and chemical industries, creating a higher demand for moisture analysers. In addition, growing industrialization to meet the requirement of high-quality manufacturing facilities is another factor responsible for the country's market growth.
From 2018 to 2024, Asia-Pacific is expected to be the fastest-growing region, while Europe is expected to be at second position in terms of market share during the assessment period. Germany is a developing country and a leader in innovation and development, with the involvement of key players in the fields of semiconductors, power electronics, and ICT. In addition, some of the other factors driving market growth in the rest of Europe include increased government inclination to maintain food quality , increased consumer awareness of technology, and increased adoption of next-generation technologies across the chemical and manufacturing industries to support domestic moisture analyzer market vendors. In addition, the expansion prospects for Western Europe's US-based market leaders are also significantly high, further paving the way for the growth of the region's moisture analyzer sector, further paving the way for the moisture analyser sector to expand.
Global Moisture Analyzer Market – Competitive Analysis
Highly competitive, the moisture analyzer market appears to be fragmented. Market leaders are innovating continually and increasingly seeking market expansion through various strategic initiatives such as mergers and acquisitions, and innovations. They are substantially investing in R&D activities to develop a cost-effective product portfolio.
To meet competitive market demands, manufacturers typically design new instruments to incorporate many additional capabilities and features. Such expanded feature sets often include pre-analytical automation, interoperability with clinical chemistry and other analyzers.
Key players leading the moisture analyzer market include Kett Electric Laboratory (US), Ametek, Inc. (US), Michell Instruments Inc. (UK), PCE Instruments (Germany), General Electric Co. (US), Mettler-Toledo International, Inc. (US), Sartorius AG (Germany), Spectrasensors, Inc. (US), Metrohm AG(Germany), Shimadzu Corp. (Japan), Arizona Instrument LLC (US), A&D Co., Ltd. (Japan), Adam Equipment Inc. (US), Thermo Fisher Scientific, Inc. (US), and Brookhuis Applied Technologies (Netherlands) among others.
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