Process Analyzer Market Research

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The global process analyzer market is expected to grow at a CAGR of 6% over the forecast period from 2017 to 2023, according to the latest research report published by Market Research Future (MRFR). The report studies the global process analyzer market in detail in order to reveal actionable insights regarding the major drivers and restraints operating on the market, the key players operating in the market, and the market’s leading segments. 

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Process analyzers are used in various industrial processes to examine the physical contents involved in the processes. This is necessary for enhancing the quality of the product as well as complying with environmental regulations, which have become a major factor for industrial entities in recent years. The global process analyzer market is mainly driven by the growing demand from the wastewater treatment industry as well as the oil and gas industry. Wastewater treatment plants rely on process analyzers to eliminate waste products from the wastewater stream and achieve adequate separation of all components for further processing. The oil and gas industry has also emerged as a major end user in the global process analyzer market due to the growing need for process analyzers in petrochemical refineries. 

Competitive Analysis:

Leading players in the global process analyzer market include Yokogawa Electric Corp., Thermo Fisher Scientific Inc., The Emerson Electric Company, Teledyne Technologies Inc., Mettler-Toledo International Inc., Honeywell International Inc., Hach Lange GmbH, GE Analytical Instruments, Endress+Hauser AG, and ABB Ltd. Leading players in the global process analyzer market are likely to focus on product innovations in the coming years, as coming up with a well-developed product catalog and technologically advanced products has emerged as a major recipe for success in the process analyzer market. 

In May 2019, PerkinElmer launched a new NIR analyzer for the food and beverage industry, especially producers of meat and olives. The food and beverage industry could also play a major role in the growth of the global process analyzer market over the forecast period due to the growing government intervention in the food and beverage industry to ensure food safety and the growing demand for packaged food. 

Segmentation:

The global process analyzer market is segmented by type, service, end use, and region.

Based on the type, the global process analyzer market is segmented into pH/ORP analyzers, conductivity analyzers, near-infrared analyzers, turbidity analyzers, dissolved oxygen analyzers, chlorine analyzers, liquid density analyzers, MLSS analyzers, TOC analyzers, aluminum analyzers, ammonia analyzers, fluoride analyzers, and others. pH/ORP analyzers are likely to exhibit the fastest growth over the forecast period due to the growing demand for this type of analyzer from the oil and gas industry. 

Based on service, the process analyzer market is segmented into pre-sales and post-sales. The pre-sales segment is further classified into start-up & commissioning services and technical support services, whereas the post-sales segment is further classified into parts & spares services, preventive maintenance services, and on-site training services. 

Regional Analysis:

North America holds the largest share in the global process analyzer market due to the strong government support for safety regulations in the pharmaceutical, food and beverage, and water and wastewater treatment industries, among others. The U.S. and Canada are also likely to drive the demand for process analyzers in North America due to the growing oil and gas industry in North America.

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Global Process Analyzer Market Research Report: By Type (pH/ORP analyzers, Conductivity Analyzers, Chlorine Analyzers, Liquid Density Analyzers, MLSS Analyzers, TOC Analyzers), Service (Pre-Sales, Post-Sales), Industry (Oil & Gas) — Forecast till 2023

Process Analyzer Market

The global process analyzer market is projected to witness a rapid growth during the forecast period owing to increasing demand for process analyzers across various application areas such as water & wastewater, food & beverages, pharmaceuticals among others. Moreover, increasing demand for process analyzers across various industries such as oil and gas is driving the market growth.

The global process analyzer market by geography is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America market holds the largest share of the global process analyzer market and is also expected to witness significant growth during the forecast period. The U.S and Canada are anticipated to drive the growth of the process analyzer market in North America region owing to the presence of large number of established key players such as GE Analytical Instruments, Honeywell International, Inc., Mettler-Toledo International Inc., Teledyne Technologies, Inc., The Emerson Electric Company, and Thermo Fisher Scientific, Inc. among others in this region. Due to sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. The growth of the market is also attributed to rapid growth in modernization and the subsequent rising adoption of process quality control. In the global process analyzer market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to increasing demand for process analyzers across different industries such as oil & gas, pharmaceuticals, among others across different countries in the region. Also, with a considerable increase in disposable income, the consumption of oil has eventually increased which has further led to an increase in oil output from oil refineries and is boosting the growth of process analyzer market in the region.

Global Process Analyzer Market is Projected to reach USD 3 billion at a CAGR of over 6% by the end of the forecast period 2017–2023.

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Process Analyzer Market Segmentation

The global process analyzer market is segmented on the basis of type, service, and industry. The service segment is classified into pre-sales and post-sales. The pre-sales segment is further classified into start-up & commissioning services and technical support services. Whereas, the post-sales segment is further classified into parts & spares services, preventive maintenance services, and on-site training services. However, the post-sales service sub-segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing demand for post-sales support from the consumers in order to maintain quality and control.

Some of the prominent players in the global process analyzer market are ABB Ltd. (Switzerland), Endress+Hauser AG (Switzerland), GE Analytical Instruments (U.S.), Hach Lange GmbH (Germany), Honeywell International, Inc. (U.S.), Mettler-Toledo International Inc. (U.S.), Teledyne Technologies, Inc. (U.S.), The Emerson Electric Company (U.S.), Thermo Fisher Scientific, Inc. (U.S.), and Yokogawa Electric Corp. (Japan) among others.