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Tunable Diode Laser Analyzer Market to hit $935.33 million, Globally, by 2028 at 7.0% CAGR: The Insight Partners
According to the new research report published by The Insight Partners, titled "Tunable Diode Laser Analyzer Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to grow from US$ 590.89 million in 2021 to US$ 935.33 million by 2028; it is estimated to grow at a CAGR of 7.0% from 2022 to 2028.Europe holds a significant share in the tunable diode laser analyzer market size owing to the stringent government regulations that limit carbon footprint and maintain environmental sustainability. In December 2021, the European government invested around US$ 3.20 billion (€3 billion) smart grid R&D to improve the power transmission capacity. This investment will propel the demand for tunable diode laser analyzers in smart grid infrastructure in Europe, which in turn will fuel the growth of tunable diode laser analyzer market. The European Commission proposed a Climate Law in March 2020 with a long-term goal of becoming climate-neutral by 2050.
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Increasing Number of New Power Plants Setups due to Rising Energy Demands Drives Tunable Diode Laser Analyzer Market Growth
Various plant units and piping may contain pressurized, high-temperature, corrosive, combustible, and toxic gases, which may be problematic for traditional technologies. In power plants, the piping systems may be exposed to high temperatures; toxic gases; and corrosive and pressurized toxic gases, which may pose a threat to the power plants. Thus, advanced tunable diode laser analyzers are installed at many power plants to overcome such threats. With rising demand for high temperatures; toxic gases; and corrosive and pressurized toxic gases releasing from power plants are projected to support the growth of tunable diode laser analyzer market.
As per International Energy Agency (IEA) semiannual Electricity Market Report, July 2021, the global electricity demand is growing for instance it was 5% in 2021 and 4% in 2022 in the first quarter of 2022 and it is expected to increase, which is driven by the economic recovery. With the rapid pace of industrialization globally, there has been a significant rise in demand for energy generation, which can be meth with the new power plant establishments. Many developing and developed economies invest massive amounts in upgrading old power plants and installing modern equipment. With increasing number of power plant installments, the tunable diode laser analyzer market will expand. As the number of power plants increases, the demand for tunable diode laser analyzers will also increase. Thus, rising energy demands are resulting in the new global setup of power plants, which positively impacts tunable diode laser analyzer market growth.
The US Clean Air Act, which was revised proposed in 1990 by the Environmental Protection Agency (EPA), focuses on boilers and incinerators that burn solid waste emissions. This Act cover more than 200,000 boilers and incinerators from the US that emit harmful air pollution, such as mercury, cadmium, and particle pollution. As a result, tunable diode laser analysis is in high demand in various industrial facilities. Due to increasing industrialization globally, the scope of using TDLA will rise which is anticipated to fuel tunable diode laser analyzer market.
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Tunable diode laser absorption spectroscopy (TDLAS) has been widely used to reduce greenhouse gas emissions and measure combustion gas emissions. Supportive government policies such as the National Emission Standards for Hazardous Air Pollutants (NESHAP) for Industrial, Commercial, and Institutional Area Source Boilers of the US; Clean Air Act of US Climate Protection Plan 2050; and Net Zero-emission by 2050 in developing and developed economies are driving the growth of the tunable diode laser analyzer market. The introduction of policies that encourage the installation of energy-efficient heating systems and a shift in the trend toward zero-emission buildings are further supporting the tunable diode laser analyzer market growth.
Tunable Diode Laser Analyzer Market Analysis: Competitive Landscape and Key Developments
Emerson Electric Co., Siemens AG, ABB Ltd, Mettler Toledo, Teledyne Analytical Instruments, Yokogawa Electric Corporation, Unisearch Associates Inc., NEO Monitors AS, Axetris AG and Boreal Laser Inc. are among the key players profiled during this market study. In addition, several other essential Tunable Diode Laser Analyzer market players were studied and analyzed to get a holistic view of the market and its ecosystem.
METLER TOLEDO, Teledyne Analytical Instruments, Yokogawa Electric Corporation, ABB Ltd. Emerson Electric are some of the key market players operating in the global Tunable Diode Laser Analyzer market. The listing of key players is derived by considering multiple factors such as overall revenue, current Tunable Diode Laser Analyzer product portfolio, geographical reach, new product launches, market initiatives, and investment in technology up-gradation, partnerships, and other market-related activities. In addition to these players, there are several other important players operating in the tunable diode laser analyzer ecosystems which were studies analyzed during this market research study Siemens AG; Unisearch Associates Inc.; NEO Monitors AS; Axetris AG; and Boreal Laser Inc. Most of the market initiatives were observed in Europe and Asia-Pacific regions, which have a high potential for market-related products, solutions, and services. A few of the important market initiatives from the industry are mentioned below:
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2022: Seroma has announced its latest product, the Laser 3 Plus Environmental (Laser 3 Plus) - a Tunable Diode Laser (TDL) analyzer used to continuously measure ammonia (NH3) emissions. The gadget could be crucial in assisting plant operators in complying with EPA recommendations, particularly those outlined in Performance Specification 18 (PS18), which is expected to constitute the foundation for future regulation.
2021 : Yokogawa Electric Corporation has developed the TDLS8200 probe type tunable diode laser spectrometer. While featuring the same low installation cost, high measurement stability, and high reliability of the preceding TDLS8100, the TDLS8200 will be able to simultaneously measure oxygen, carbon monoxide, and methane gas concentrations directly and at high speed.
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Contact Person: Sameer Joshi
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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