Our in-depth analysis of the global process analyzers market includes the following segments:
By End-use Industry
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:
July 2019: Emerson introduced two new Rosemount 628 Universal Gas Sensors. These products can measure carbon monoxide and oxygen depletion, along with the existing capability for monitoring hydrogen sulfide. These additions to the series can cover a wide range of hazardous situations.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Increasing use of process analyzers in drug safety and advancements of technology of process analyzers are the key factors driving market growth.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.
Ans: Lack of skilled professionals is estimated to hamper market growth.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the large-scale advancements and technological innovations in the manufacturing industry.
Ans: The major players dominating the ABB Ltd., AMETEK Process Instruments, Applied Analytics, Inc., Endress+Hauser AG, Emerson Electric Co. among others.
Ans: 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.
Ans: The market is segmented by type, end-use industry, and by region.
Ans: 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.