Press release
pH Meters Market Forecasted To Grow At 3% CAGR Till 2024 - Research Report by Hexa Research
The worldwide pH meters market is projected to grow at a 3% CAGR over the forecast period (2016-2024). Demand for these devices in light of health concerns and awareness of water purity is expected to surge market demand in the coming years. Measuring pH level of solutions with low ion concentration can pose a challenge towards market growth.
The market is segmented according to products, end-users, and regions. Products include continuous, portable, and bench-top pH meters. Portable devices can measure pH for long hours with ease. Its small size and mobility will contribute to its demand in the coming years. Bench-top meters captured over 55% market shares due to its wide application in research institutes and laboratories.
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Major end-users are food science, pharmaceuticals & biotechnology, environmental research & pollution center, and others. Food science generated over 40% revenue for the pH meters market in 2014. Their application includes wine, dairy, agriculture, fruit juice & dairy processing, and others. Technological developments such as incorporation of smart sensors and multi-parameter analysis will propel market demand among industries in the years ahead.
Regions covered under the market are Latin America, Middle East & Africa (MEA), North America, Europe, and Asia Pacific. North America is the biggest region owing to the presence of major players headquartered in the region. Strict guidelines pertaining water use by the U.S. EPA (Environmental Protection Agency) will facilitate regional market growth. Food & drug safety concerns and awareness & technology to curb waste treatment and other pollutants will create lucrative opportunities in Asia Pacific.
Europe will generate high revenue for the market due to possessing sophisticated healthcare infrastructure, high R&D activities, and high capita per income of consumers. Prominent players operating in the global pH meters market are Hanna Instruments, Thermo Fisher Scientific, Metrohom USA, and Agilent Technologies. Hanna Instruments launched a pH meter which incorporates elements of portable and bench-top meters.
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