Process Analyzer Market Research, 2030
The process analyzer market size was valued at $7,706.3 million in 2020, and is expected to reach $12,192.0 million by 2030, registering a CAGR of 4.8% from 2021 to 2030.
The report study shows the revenue generated from the sales of process analyzers used in process industries to detect or monitor the composition, flow rate, and pressure of liquids and gases that are being used in different operations. Process analyzers are used in the process industry where the operations are related to continuous flow of different liquids or gases.
Market Dynamics
The major driving factor of the process analyzer market is rising demand for wastewater treatment. Urbanization has impelled the need for efficient water management solutions. Rise in focus on the quality of water & public health, increase in industrial demand, and stringent governmental regulations on treating wastewater are leading to the increasing need of water & wastewater treatment facilities. In addition, increasing use of process analyzers in drug safety is the other driving factor of the market.
The COVID-19 pandemic has highly propelled the pharmaceuticals market. Furthermore, adoption of automation, artificial intelligence, and smart technology in the manufacturing industry around the world is also a major driving factor of the process analyzer market. However, lack of skilled professionals results in the problem to operate the process analyzer, which can otherwise, lead to errors in monitoring the substance. In addition, high cost of process analyzer and its software leads the manufacturer to opt for simple and low-cost monitoring solutions instead of installing high-cost process analyzers. This acts as a restraint to the market.
Furthermore, during the COVID-19 outbreak, construction, manufacturing, and oil & gas industries were majorly affected. Construction activities were also stopped or restricted to a huge extent. Manufacturing and transportation activities along with their supply chains were hampered on a global level. This directly hampered the process analyzer market growth for a brief period. However, the market gained stability in the third and fourth quarter of 2020. Moreover, gradually, all industries are resuming their regular manufacturing and services. This is further expected to lead to re-initiation of process analyzer companies at their full-scale capacities, which is expected to help the market to start to recover by mid-2021.
On the contrary, rise in demand for process analyzers in emerging markets, such as India and China, is expected to be a major opportunity for the growth of the process analyzer market during the forecast period.
The process analyzer market is segmented on the basis of analysis type, analyzing material state, end-user industry, and region. On the basis of type, the market is divided into online analysis, inline analysis, and atline analysis. Depending on analyzing material state, it is classified into under liquid and gas. On the basis of end-user industry, the market is fragmented into oil & gas, pharmaceuticals, water & wastewater, chemical, and others. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Russia, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
By Analysis Type
Online analysis segment holds the largest share in Process Analyzer market
By analysis type, in 2020, the online analysis segment dominated the process analyzer industry in terms of revenue while the inline analysis segment is expected to witness growth at the highest CAGR during the forecast period. On the basis of analyzing material state, the liquid segment led the market in 2020 in terms of revenue while the gas segment is anticipated to register the highest CAGR during the forecast period. On the basis of end-user industry, the chemical segment led the market in 2020 in terms of revenue while the pharmaceuticals segment is anticipated to register the highest CAGR during the forecast period. By region, Asia-Pacific led the market in 2020 in terms of revenue while LAMEA is anticipated to register the highest CAGR during the forecast period.
By Analyzing Material State
Liquid segment holds dominant position in 2020
Competition analysis
The major players profiled in the process analyzer market include ABB Ltd., AMETEK Process Instruments, Applied Analytics, Inc., Endress+Hauser AG, Emerson Electric Co., Mettler-Toledo International Inc., Siemens AG, Suez, Thermo Fisher Scientific, Inc., and Yokogawa Electric Corporation. Major companies in the market have adopted strategies, such as business expansion and product launch, to offer better products and services to customers in the process analyzer market share.
By Region
Asia-Pacific holds a dominant position in 2020 and LAMEA is expected to grow at a highest rate during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging process analyzer market trends and dynamics.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- In-depth process analyzer market analysis is conducted by estimations for the key segments between 2021 and 2030.
- A comprehensive analysis of four major regions is provided to determine the prevailing process analyzer market opportunities.
- The market forecast analysis from 2021 to 2030 is included in the report.
- The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market.
Process Analyzer Market Report Highlights
| Aspects | Details |
 By Analysis Type |
|
 By Analyzing Material State |
|
 By End-user Industry |
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 By Region |
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 Key Market Players | AMETEK, Inc., Suez, Emerson Electric Co., .Mettler-Toledo International Inc, Endress+Hauser AG, Yokogawa Electric Corporation, SIEMENS AG, Applied Analytics, Inc., hermo Fisher Scientific Inc., ABB |
Analyst Review
The process analyzer market is mainly driven by rising demand for wastewater treatment facilities, increasing use of process analyzers in drug safety, and adoption of automation, artificial intelligence, & smart technology in the manufacturing industry. The process analyzer market was valued at $7,706.3 million in 2020, and is expected to reach $12,192.0 million by 2030, registering a CAGR of 4.8% from 2021 to 2030.
However, lack of skilled professionals and high cost of process analyzers have hampered the growth of the process analyzer market. On the contrary, adoption of automation will lead to increase in demand for process analyzers, which is expected to be a major opportunity for the growth of the process analyzer market during the forecast period.
Major companies in the market have adopted strategies, such as business expansion, and product launch, to offer better products and services to customers in the process analyzer market.
The global process analyzer market size was valued at $ 7,706.3 million in 2020, and is projected to reach $ 12,192.0 million by 2030, growing at a CAGR of 4.8% from 2021 to 2030.
The forecast period considered for the global process analyzer market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.
To get latest version of global process analyzer market report can be obtained on demand from the website.
The base year considered in the global process analyzer market report is 2020.
The top companies holding the market share in the global process analyzer market report include ABB Ltd., AMETEK Process Instruments, Applied Analytics, Inc., Endress+Hauser AG, Emerson Electric Co., Mettler-Toledo International Inc., Siemens AG, Suez, Thermo Fisher Scientific, Inc., and Yokogawa Electric Corporation.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
By analysis type, the online analysis segment dominated the global process analyzer market, in terms of revenue and is expected to maintain this trend during the forecast period.
By end-user Industry, the chemical segment is the highest share holder of global process analyzer market.
The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
The market value of the global process analyzer market is $8,022.2 million in 2021.
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