Press release
Positive Material Identification Global Market Report 2024 - By Size, Share, Growth, Drivers, Outlook By 2033
The Business Research Company presents an extensive market research report on the Positive Material Identification Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The positive material identification market size has grown strongly in recent years. It will grow from $2.88 billion in 2023 to $3.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to safety and quality assurance, industrial expansion , metal processing and fabrication, aerospace and defense applications, oil and gas industry growth..
The positive material identification market size is expected to see strong growth in the next few years. It will grow to $4.27 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to integration in pharmaceuticals, quality control in construction, global trade expansion, spectroscopy advancements, recycling industry growth.. Major trends in the forecast period include advancements in handheld devices, integration of ai and data analytics, focus on industry-specific solutions, rise of mobile and cloud integration , enhanced non-destructive testing..
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Key Market Players:
Major companies operating in the positive material identification market report are Olympus Corporation, Thermo Fisher Scientific Corporation, Bruker Corporation, Hitachi Ltd., Ametek Inc., Malvern Panalytical, SGS S.A., Bureau Veritas, Intertek Group plc., Applus+, Shimadzu Corporation, TÜV Rheinland, TÜV SÜD America, SciAps Inc., Tribogenics Inc., Agilent Technologies, PerkinElmer), HORIBA, Spectris, Anritsu, Andor Technology, Buehne, Cofatech, Corning, Danaher Corporation, Deutsche Telekom, Element Materials Technology, TUV Nord, Torontech, QSX Instruments
Market Drivers:
The growing oil & gas industries are expected to propel the growth of the positive material identification (PMI) market. The oil & gas industry is concerned with hydrocarbon exploration, data collection, development, drilling, production, gathering, refining, distribution, and transportation. The PMI is utilized in the oil and gas sectors for quality control and safety compliance and it is an important component of production and asset integrity management. For instance, according to a report published by the United States Energy Information Administration, which is the primary agency of the United States Federal Statistical System, natural gas output in the United States increased by 4% (4.9 billion cubic feet per day [Bcf/d]) in 2022, averaging 119 Bcf/d. Therefore, the oil & gas industries are driving the growth of the positive material identification market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/positive-material-identification-global-market-report
The positive material identification market covered in this report is segmented -
1) By Offering: Equipment, Services
2) By Form Factor: Portable Analyzers, Benchtop Analyzers
3) By Technique: X-Ray Fluorescence (XRF) , Optical Emission Spectrometry (OES) )
4) By Industry: Oil and Gas, Metals and Heavy Machinery, Automotive, Scrap* Recycling, Chemicals, Power Generation, Pharmaceutical
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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