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Tunable Diode Laser Analyzer Market is expected to reach US$ 935.33 Million by 2028 - Latest Exclusive Research by The Insight Partners

06-06-2022 09:47 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: The Insight Partners

According to our latest study on "Tunable Diode Laser Analyzer Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Measurement Type, Gas Analyzer Type, and Industry Application," 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.

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The tunable diode laser analyzer market analysis is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. In 2021, Europe led the market with ~40% share, followed by the Asia Pacific and North America, respectively.

The European Commission has proposed the implementation of a carbon tariff from 2026. The new proposed tax is part of the EU's climate change policies, aiming to reduce greenhouse gas emissions by more than 50% by 2030. According to a new European Environment Agency (EEA) assessment, the European Union (EU) met its three main climate and energy goals in 2020-a 20% reduction in emissions, a 20% increase in renewable energy use, and a 20% improvement in energy efficiency. Such stringent government policies and targets to reduce the carbon footprints forced many industrial verticals to adopt energy-efficient products and services, which is expected to bolster the demand for tunable diode laser analyzers in Europe and as a result, contribute toward the growth of tunable diode laser analyzer market.

Further, manufacturing industries in Europe are being compelled to embrace digital transformation solutions to make their business processes as efficient as possible. Moreover, they are adopting newer technological innovations due to a rapid increase in competition and evolving end-user requirements. As per the Organization for Economic Co-operation and Development (OECD), Germany invests 2.88% of its GDP in innovation related to manufacturing processes, well above the OECD average of 2.4%. Thus, with the expansion of manufacturing industries in Europe, the demand for tunable diode laser analyzers is likely to surge in these industries. This factor is expected to fuel the tunable diode laser analyzer market positively. Furthermore, the energy sector in Europe is taking various measures to boost power transmission capacity, such as a smart grid. In December 2021, US$ 3.20 billion (€3 billion) was invested in Europe's smart grid R&D to improve the power transmission capacity, which is likely to boost the demand for tunable diode laser analyzers in smart grids in Europe and in turn promote the growth of tunable diode laser analyzer market.

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The tunable diode laser analyzer market size in North America is segmented into the US, Canada, and Mexico. The US government signed the Paris Agreement (PA), which became effective in November 2020. Further, the US Climate Change Policy and the Clean Air Act Environmental Protection Agency (EPA) are authorized to regulate GHG emissions. For instance, the US government announced a new GHG target for the US to reduce net GHG emissions by 50-52% below 2005 levels by 2030. These initiatives by the US government will create a favorable business environment for the tunable diode laser analyzer market players to establish their footprints in this region. Canada 2030 Emissions Reduction Plan (2022), Canada's strengthened climate plan (2020), and the Pan-Canadian Framework (2016) are the policies and initiatives by the government of Canada that provide a road map to meet its enhanced Paris Agreement target of reducing emissions of carbon and other toxic gases by 40-45% by 2030. These government initiatives by the Canadian government forced many manufacturing industries to adopt energy-efficient products and services to limit carbon emissions.

Tunable Diode Laser Analyzer Market: 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 major tunable diode laser analyzer market players existing in the ecosystem.

The tunable diode laser analyzer market players are mainly focused on the development of advanced and efficient products.

1. In 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 as the preceding version TDLS8100 the TDLS8200 will be able to simultaneously measure oxygen, carbon monoxide, and methane gas concentrations directly and at high speed.

2. In 2022, Seroma announced the Laser 3 Plus Environmental (Laser 3 Plus)-its latest tunable diode laser analyzer meant for the continuous measurement of 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 regulations.

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If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
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, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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