“Silica analyzer market to exhibit significant growth potential between 2018 and 2023”
The silica analyzer market is estimated to grow from USD 106.1 million in 2018 to USD 139.6 million by 2023, at a CAGR of 5.66% between 2018 and 2023. The significance of accurate silica measurement in steam/water cycle for optimizing power plant efficiency is one of the key factors driving the silica analyzer market growth. The requirement for regular maintenance and replacement of parts and consumables restrains the market growth.
“Silica analyzer market for consumables is expected to grow rapidly”
The consumables of silica analyzers are reagents used for the analysis of silica levels. They are replaced frequently. Also, a single 2-liter bottle of reagent/s can last for 45 to 60 days, depending on the usability, frequency, quality, and efficiency of the silica analyzer. Therefore, a substantial portion of the capital budget needs to be allocated for the annual expense on reagents, which is covered under operating costs. Hence, consumables are expected to continue to dominate the silicon analyzer market in the next few years.
“Power generation industry is expected to hold largest size of silica analyzer market”
In the power generation industry, silica analyzers are commonly used to monitor the silica content in the water that is used in the boiler for steam generation in power plants. Monitoring silica in water helps in avoiding the scaling on turbines, thereby increasing the thermal efficiency of power plants. Also, readily available coal as a source of power generation in APAC, especially in China and India, drives the market for the power generation industry and is expected to hold the largest size of the silica analyzer market in the next few years.
“APAC to be fastest-growing market for silica analyzers during 2018–2023”
The increasing industrialization in APAC is making the region one of the potential markets for silica analyzers. The demand for electricity is increasing in the region, and coal-fired power plants are commonly used to meet the energy demand in this region. Power generation and semiconductor are a few major industries in the APAC region that are expected to drive the growth of the silica analyzer market in the region.
The break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 = 30%, Tier 2 = 35%, and Tier 3 = 35%
- By Designation: C-Level Executives = 55%, Directors = 30%, and Others = 15%
- By Region: North America = 20%, Europe = 35%, APAC = 35%, and RoW = 10%
Key players in the market include Hach (US), ABB (Switzerland), Thermo Fisher Scientific (US), Mettler Toledo (Switzerland), HORIBA (Japan), NIKKISO (Japan), Swan Analytical Instruments (Switzerland), SPX Flow (US), DKK TOA (Japan), Waltron Group (US), Dr.Thiedig (Germany), Electro-Chemical Devices (US), Shanghai Boqu Instrument (China), KNTEC (South Korea), HKY Technology (China), and Omicron Sensing (US) are a few companies in this market.
The research report on the silica analyzer market covers different segments?type, industry, and geography. The market has been segmented on the basis of type into equipment and consumables. The silica analyzer market has been segmented on the basis of industry into power generation, semiconductor, and others. The report covers 4 regions?North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on type, industry, and geography have been conducted to give an overall view of the silica analyzer market.
Major drivers, restraints, opportunities, and challenges for the silica analyzer market have been detailed in this report.
The report includes a detailed competitive landscape, along with key players, in-depth analysis, and revenue of key players.