According to a new market research report of the “Process Analyzer Market by Segments (Gas Analyzers, Liquid Analyzers) , Types (Electrochemical, Infrared, Paramagnetic, Zirconia, MOS, Laser, Catalytic, PID, Conductivity, Dissolved Oxygen, Turbidity, Titro, and TOC) & Geography - Global Trends & Forecast to 2020” the market is expected to grow at a CAGR of 5.6% from 2014 to 2020, and reach $4.9 Billion in 2020.
Process analyzers are highly sophisticated instruments that can identify the chemical composition of compounds present in the process stream, and measure the concentration of the elements identified in the composition. The process analyzer industry has been in existence since the 1930s and is a combination of disciplines like analytical chemistry, process chemistry, process engineering, and multivariate data analysis. They find applications in measurement, quality control, process optimization, and safety control.
This report covers the process industry on the basis of products, applications, and geography. The segmentation by products includes gas analyzers, and liquid analyzers; their subtypes and their future market potential. Of all the major products, the infrared gas analyzer is expected to have the higher adoption rates for the mass market. The segmentation by application includes industries such as chemical/petrochemical, power/utility, water and wastewater treatment, pharmaceuticals, food and beverages, pulp and paper, mining, and cement and glass. The geographical analysis covers Americas, Europe, APAC, and ROW.
The major drivers for the process analyzer market are the requirement for extremely low-level trace component measurement, water and wastewater treatment, growth of industries like oil, gas, petrochemicals, cement and glass, the increasing demand for emission control, and many more. There are restraints in the market such as high initial costs, restricted growth in developed counties, and fragmented market with too many specialist suppliers thatmay inhibit the market growth. The increasing demand from emerging economies is one of the key opportunities for the process analyzer market.
The major companies involved in process analyzer are ABB Ltd. (Switzerland), Emerson Process Management (U.S.), Endress+Hauser (Switzerland), Siemens AG (Germany), Thermo Fisher Scientific (U.S.), Yokogawa Electric Corporation (Japan), and more.