Tunable Diode Laser Analyzer Market to hit US$ 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 - 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.

The tunable diode laser analyzer market analysis is segmented into five major regions-North America, Europe, Asia Pacific, the Middle East & Africa, and South America. In 2020, Europe led the market with a substantial revenue share, followed by APAC and North America, respectively. In Europe, tunable diode lasers are becoming increasingly popular in the pharmaceuticals and healthcare industries. In the pharmaceuticals industry, tunable diode laser absorption spectroscopy (TDLAS/WMS) based on wavelength modulation exhibits great potential in in-site oxygen concentration detection due to non-contact, low-cost operation with high sensitivity and real-time response. As a result, the demand for tunable diode laser analyzers is growing in this industry to maintain the ingredient stability of sterile pharmaceuticals. With growth in TDLA in pharmaceuticals industry, the tunable diode laser analyzer market size is projected to rise with a huge volume. In Asia Pacific, China held the largest share in tunable diode laser analyzer market; however, India is expected to register the fastest CAGR due to high demand for these analyzers from the power generation and distribution industries. Rapid urbanization and stringent safety standards in the chemical and gas industries are driving the Asia pacific tunable diode laser analyzer market growth. With the continuous trend of the industry 4.0 across various industries, a significant increase in the adoption of process automation technologies is being seen, particularly in emerging economies such as China, India, Australia, and South Korea.

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Market Insights - Tunable Diode Laser Analyzer Market

The tunable diode laser analyzer market size in North America is segmented into 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 emission.

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Impact of COVID-19 Pandemic on Tunable Diode Laser Analyzer Market Size

The COVID-19 pandemic, as well as consequent limitations on international trade, led to considerable disruptions in industry supply chain operations in 2020 and 2021. Moreover, as the global oil prices plummeted significantly due to limited demand and continuous production by oil-producing countries, there was a considerable decline in production activities among major oil-producing countries. Consequently, the discontinuation of oil & gas activities virtually disrupted the demand for any related products and services, including gas analyzers in the oil & gas sector. The sudden onset of the COVID-19 pandemic adversely impacted operations at facilities manufacturing industrial automated solutions, leading to low production volumes.

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.

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Contact Us: 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

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.

This release was published on openPR.