Process Analyzer Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025
Report ID: GMI2661
Process Analyzer Market size is anticipated to grow at a rapid rate owing to the rising demand to enhance the product quality, reduce manufacturing costs, and meet strict safety & health requirements. Manufacturers are trying to gain a tight control over the production processes to optimize the usage of materials and eliminate or reduce the manufacturing of off-specification materials, thereby saving disposal or reprocessing expenses. These systems enable asset protection, optimization, and adherence to environmental regulations. Manual inspection techniques of material in industries are taking a backfoot owing to the error margins caused due to human involvement. The precise periodical or continuous measurement of chemical or physical parameters in an industrial process facilitated by the equipment will contribute to the process analyzer market growth.
The growing wastewater and critical water issues that are challenging the business are fueling the adoption of the systems, thereby positively impacting the process analyzer market. Industrial wastewater is characterized by high salt concentrations, high particle densities, and high fluctuating loads and may include toxic chemicals hazardous to the environment, thereby stressing the need to use these systems. The growing need to accurately analyze industrial wastewater will drive the industry growth. The surge in the water shortage in several regions has further led to the need to control the amount of water lost in distribution. Stringent regulations pertaining to the treatment and disposal of industrial wastewater will support the process analyzer market growth.
Technological advancements in the process analyzer market have led to the development of high-performance analyzers that enable a high speed of response. They are being incorporated with high-quality sensors to ensure high accuracy during operations. Robust analyzers that can withstand harsh industrial environments and high temperatures are being manufactured. The growing need for efficient and fast analysis in industries to improve the productivity will boost the process analyzer market growth. Moreover, developments in the electronics and communication sectors are facilitating real-time data transmission, thereby enabling enhanced process control. Rising raw material and energy costs are stressing the need for efficient control and automation, thereby supporting the process analyzer market.
The high installation and maintenance costs of these systems are restricting their adoption in industries that have budgetary constraints hindering the process analyzer market growth. These systems comprise high-quality sensors and hardware components that increase the overall cost of the system. Moreover, the complicated installation of the system and the lack of availability of skilled technicians in developing regions will also impact the process analyzer market growth. However, several government initiatives supporting industrialization and automation coupled with the reducing electronics hardware costs in countries including China will aid in the industry growth. The growing importance of replacing traditional manual inspection and analysis techniques with advanced solutions will encourage industries to find solutions to install these systems by combating the maintenance and installation challenges.
In the oil & gas industry, the adoption of these systems is anticipated to increase owing to the ongoing technological advancements in these analyzers. The incorporation of advanced optical techniques such as Raman spectroscopy and Tunable Diode Laser Absorption Spectroscopy (TDLAS) that facilitate automatic validation will propel the process analyzer market growth. The tunable diode laser technology enables real-time and fast measurement. The technology also enables long-term stability through maintenance free and inbuilt reference gas cell, thereby eliminating the need for field calibration. In addition, the demand for high-quality gas analyzers in manufacturing, chemicals, medical & pharmaceutical, food, and metal industries will propel the process analyzer market growth.
Stringent government regulations pertaining to food and beverage production will compel the industries to use high-quality analyzers, thereby positively impacting the process analyzer market. The growing competition in the food and beverage sector is forcing companies to use high-quality solutions for regulating food quality to ensure customer satisfaction. These systems help in the continuous monitoring of food products, thereby certifying the quality of production. These systems are also being used by industries to ensure the quality of raw materials received. There is a demand for enhanced solutions for temperature monitoring in fridges and freezers. The increasing prices of raw materials, seasonal demands and regulations, and requirement of tight automation and control in the edible oil industry will drive the process analyzer market growth.
The flourishing industrial sector in Asia Pacific is encouraging the demand for high-performance automation solutions that will aid the process analyzer market growth. The booming manufacturing sector in countries including China, Japan and India will encourage the adoption of these systems. Growing electronics industry and advent of Industry 4.0 in several countries in Asia Pacific will further encourage the process analyzer market growth. The growing popularity of smart and connected factories in countries such as Singapore and India will also support the industry growth. Government initiatives such as National Mission for Clean Ganga in India and launch of around 8,000 water clean-up initiatives in China are driving the demand for advanced analyzers for water treatment.
The key players operating in the process analyzer market are ABB Ltd., Modcon Systems Ltd., Emerson Electric Co., Yokogawa Electric Corporation, Siemens AG, Honeywell International, Inc., Endress+Hauser AG, Teledyne Technologies, Inc., Thermo Fisher Scientific, Inc., and Mettler-Toledo International, Inc. Companies are launching advanced solutions to cater to specific industry demands. The industry is characterized by increasing R&D efforts from major players. The increasing demand for optimizing the manufacturing process is compelling companies to incorporate the latest technologies in these analyzers. Increasing competitiveness among major players to offer solutions catering to a wide range of industries will aid in the process analyzer market growth.
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability
Why Global Market Insights, Inc.?
- GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.
Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.