The global process analyzers market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. Major factors anticipated to drive the growth of the market are the increasing demand for water & wastewater treatment plants and the growing competition among major players in the market to provide technologically advanced and better-quality products. Furthermore, the need for process analyzers in oil and gas industries is also expected to drive the growth of the market in the upcoming years. Moreover, the precise periodical measurement of chemical and physical parameters of an industrial process facilitated by the equipment is also predicted to contribute to the market growth. Along with these, manufacturing of robust analyzers that can withstand harsh industrial environments and high temperatures is predicted to offer lucrative opportunities to the market growth in the future.
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By type, the market is segmented into pH/ORP analyzers, conductivity Analyzers, chlorine Analyzers, liquid density analyzers, MLSS analyzers, TOC analyzers, out of which the pH/ORP analyzers segment is expected to grow at a significant rate owing to the growing adoption of pH/ORP analyzers across oil and gas industries worldwide. Additionally, based on end-use industry, the pharmaceutical segment is expected to account for the largest market share during the forecast period. Process Analyzers are an integral part of pharma product manufacturing processes. The pharmaceutical industry has to maintain product quality and follow the rules and regulations for medicinal drugs, necessitating the wide use of process analyzers, especially during the pandemic times. These factors are assessed to give a boost to the growth of the market segment in the coming years.
The market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. In the Asia Pacific, the use of process analyzers and solutions is expected to increase rapidly during the forecast period in countries such as China, India, and Japan. The Asia Pacific market is projected to proliferate ascribing to the large-scale advancements and technological innovations in the manufacturing industry. Furthermore, in 2030, the North American region is evaluated to hold the largest share in the market worldwide, followed by Europe and the Asia Pacific. This can be credited to the increasing technological advancements and growing adoption of process analyzers in oil and gas industries in the region. Apart from these, the growing application areas of process analyzers across different industry verticals such as pharmaceuticals, water and wastewater, power generation, and food and beverages, among others, is another major factor driving the growth of the process analyzer market in the region. According to Select USA Government Organization, the United States is the largest market for biopharmaceuticals, accounting for around a one-third share of the global market, and is the world leader in biopharmaceutical R&D.
The global process analyzers market is further classified on the basis of region as follows:
Our in-depth analysis of the global process analyzers market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing use of process analyzers in drug safety and advancements of technology of process analyzers are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.
Lack of skilled professionals is estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the large-scale advancements and technological innovations in the manufacturing industry.
The major players dominating the ABB Ltd., AMETEK Process Instruments, Applied Analytics, Inc., Endress+Hauser AG, Emerson Electric Co. among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end-use industry, and by region.
With respect to application, the pharmaceutical segment is anticipated to hold the largest market share owing to strict regulation regarding maintenance of product quality necessitating the wide use of process analyzers globally.
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