Tunable Diode Laser Analyzer Market to Garner US$ 935.33 million, Globally, by 2028 at 7.0% CAGR: The Insight Partners

The latest research report on "Tunable Diode Laser Analyzer Market Forecast to 2028 - COVID-19 Impact and Global Analysis" predicts that the market will grow from US$ 590.89 million in 2021 to US$ 935.33 million by 2028. The report estimates that the market will grow at a CAGR of 7.0% from 2022 to 2028.

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 released from power plants are projected to support the growth of the tunable diode laser analyzer market.

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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 an 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 impact of COVID-19 varied from country to country across Europe. The lockdown negatively impacted the tunable diode laser analyzer market in Europe due to disruption in the various end-use industry such as construction, energy & power, oil & gas, and other sectors across the region. The emergence of the COVID-19 virus has impacted the revenue stream and operations of businesses of European automated solution manufacturers, thereby, disrupting the tunable diode laser analyzer market growth. For instance, the outbreak of COVID-19 significantly impacted the operations of ABB Ltd., which led to an increase in backlog orders in 2020. Meanwhile, the demand from automotive end users was on the lower side in 2020. However, several countries in the area are beginning to reopen industry vertical and increase the energy demand, which is expected to resume the construction of oil & gas activities and increase the development of power plants to contribute towards tunable diode laser analyzer market development. For instance, in 2022 April, Norway's Johan Castberg field development project resumed which consists of three oil discoveries: Skrugard, Havis, and Drive, and it is expected to continue till 2046. Thus, the tunable diode laser analyzer market is expected to recover steadily in the coming years and gain traction during the later forecast period.

The US Clean Air Act, which was revised and proposed in 1990 by the Environmental Protection Agency (EPA), focuses on boilers and incinerators that burn solid waste emissions. This Act covers more than 200,000 boilers and incinerators from the US that emits 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 the 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 developing 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.

Key Findings of Study:

The tunable diode laser analyzer market analysis is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).  

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 the environmental sustainability. In December 2021, the European government invested around US$ 3.20 billion (€3 billion) in 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 the 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. The 2030 National Energy and Climate Plans (NECPs) are meant to provide a framework for European countries or member states by outlining their policies, and climate and energy goals over the span of 2021-2030. Acts for protecting the environment from harmful gases are expected to create lucrative opportunities for TDLA and thus accelerate the tunable diode laser analyzer market.

The tunable diode laser analyzer market analysis in the Asia Pacific is segmented into India, China, Japan, Australia, and the Rest of Asia Pacific. Favorable government policies such as "Made in China 2025, Make in India, Production-linked incentive (PLI) scheme, and SAMARTH Udyog Bharat 4.0 in emerging countries, such as India and China, are paving way for the flourishment of process automation in various industries. In 2021, the Indian Ministry of Heavy Industries announced the launch of the Samarth Udyog Bharat 4.0 initiative, which aims to accelerate the adoption of process automation and innovative technologies in the manufacturing sector. The consequent growth of manufacturing production facilities is favoring the tunable diode laser analyzer market share of Asia Pacific. As the power demand grows due to the rapidly expanding industrial sector, governments in Asia Pacific focus on expanding their power generation capacities. Tunable diode laser analyzers monitor emission levels at numerous checkpoints in the power generation process, such as DeNOx and boilers. Thus, the above-mentioned factors drive the demand for tunable diode laser analyzers in the Asia Pacific region, and in turn, fueling the growth of the tunable diode laser analyzer market size.

Tunable Diode Laser Analyzer Market: Competitive Landscape and Key Developments

Analog Devices, Inc.; Infineon Technologies AG; Diodes Incorporated; Microchip Technology Inc.; Skyworks Solutions; On Semiconductor; Renesas Electronics Corporation; and Texas Instruments Incorporated are among the tunable diode laser analyzer market players profiled during the reported study. In addition, several other key companies were studied and analyzed to get a holistic view of the global tunable diode laser analyzer market and its ecosystem.

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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 Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

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