According to the latest report by IMARC Group, titled “Process Analyzer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global process analyzer market reached a value of US$ 6.40 Billion in 2020. Looking forward, the market value is projected to exceed US$ 7.8 Billion by 2026, expanding at a CAGR of 3.60% during 2021-2026. Process analyzers are electronic instruments utilized for examining the physical and chemical composition of substances present in industrial processes. This analysis enables asset protection, process optimization, and adherence to environmental regulations. The employment of process analyzers helps to reduce the time and resources invested for a desired outcome. These analyzers can withstand extreme climatic conditions, provide faster measurement data, and do not need human intervention. On account of these benefits, process analyzers are extensively employed across the chemical, pharmaceutical, oil and gas, and petrochemical industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Process Analyzer Market Trends:
Widespread product adoption across the oil and gas industry represents one of the key factors driving the market growth. Increasing establishment of wastewater treatment plants is acting as another major growth-inducing factor. Since process analyzers are crucial in monitoring the production processes in these treatment plants for optimal usage of resources and reduced waste generation, this is contributing to the market growth. Moreover, there is a significant growth in the healthcare and pharmaceutical industries, especially due to the steadily increasing cases of COVID-19 across the globe. Consequently, there is an enhanced focus on drug safety, which is expected to create a positive outlook for the market. Other factors, such as the development of technologically advanced product variants, including process analyzers incorporated with high-quality sensors, are driving the market further toward growth.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Group
- Cemtrex, Inc.
- Emerson Electric Co.
- Endress+Hauser Group Services AG
- GE Analytical Instruments
- Hach Lange GmbH
- Honeywell International Inc.
- Mettler-Toledo International Inc.
- Schneider Electric Industries
- Siemens AG
- Teledyne Technologies International Corp.
- Thermo Fisher Scientific Inc.
- Yokogawa Electric Corporation
Breakup by Product Type:
- Liquid Analyzer
- Gas Analyzer
- Tunable Diode Laser
Breakup by End-Use Industry:
- Liquid Analyzer
- Water and Wastewater Treatment
- Gas Analyzer
- Oil and Gas
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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