“Ultraviolet analyzer market to grow at a CAGR of 6.4% from 2019 to 2024”
The ultraviolet analyzer market is expected to grow from USD 1.0 billion by 2019 to USD 1.4 billion by 2024 at a CAGR of 6.4% from 2019 to 2024. A few key factors driving the growth of this market include a rise in demand for environmental protection would upsurge the demand for ultraviolet analyzers for emission monitoring, and stringent standards and regulations for the environment.
“Ultraviolet analyzer market for online devices to hold larger share during the forecast period”
The ultraviolet analyzer market for online holds a larger share during the forecast period. Ultraviolet analyzers are process analytical instruments designed for measurement of components in emission monitoring processes of refineries, power generation plants, food & beverages industry, and chemicals industry, among others.
Many industries prefer online ultraviolet analyzers as they can be used for continuous emission monitoring of components in gas and liquid applications. Many of these analyzers offer advantages such as continuous or faster analysis and low purchase, operating, and maintenance costs.
“Ultraviolet analyzers for air quality monitoring is expected to hold the largest share during the forecast period”
The ultraviolet analyzer market for air quality monitoring is expected to hold the largest market share during the forecast period. The growing concern about air pollution is creating a need for accurate analytical technologies to prevent further pollution of the atmosphere. The increasing demand for environmental protection and stringent regulations on sulfur content in light oil and gasoline boost the adoption of ultraviolet analyzers which offer an extremely high degree of sensitivity and precision.
“Oil & gas industry to witness the highest CAGR in ultraviolet analyzer market during the forecast period”
The ultraviolet analyzer market for oil & gas industry is expected to grow at the highest CAGR during the forecast period. Continuous monitoring of data related to emissions is a legal requirement for oil & gas companies to monitor and control pollutants released into the atmosphere and ensure that emissions do not exceed the defined thresholds.
The availability of efficient and reliable tools for analysis of this data is of paramount importance as environmental constraints can affect production. These factors drive the growth of ultraviolet analyzers for emission monitoring in the oil & gas industry.
“APAC to witness highest CAGR in ultraviolet analyzer market during the forecast period”
APAC is expected to hold the largest size of the ultraviolet analyzer market during the forecast period. The APAC has been a significant contributor to the growth of the global ultraviolet analyzer market as this region is emerging as an important hub for manufacturing. Increase in infrastructure development and industrialization is one of the prominent reason for the growth in APAC.
Breakdown of the profile of primary participants:
- By Company Type: Tier 1 – 31%, Tier 2 – 37%, and Tier 3 – 32%
- By Designation: C-Level Executives – 45%, Directors – 36%, Others - 19%
- By Region: North America – 32%, Europe – 30%, APAC – 24%, and RoW – 14%
ABB Ltd. (Switzerland), AMETEK, Inc. (US), Emerson Electric Co. (US), Halma plc (UK), Horiba, Ltd (Japan), Teledyne Analytical Instruments Inc. (US), Thermo Fisher Scientific Inc. (US), Xylem Inc. (US), Agilent Technologies Inc. (US), and Hitachi High-Technologies Corporation (Japan) are among a few major players in the ultraviolet analyzer market.
- The ultraviolet analyzer market has been segmented into treatment type, device type, application, industry, and region. Based on treatment type, the ultraviolet analyzer market has been segmented into liquid and gas. Based on device type, the market has been segmented into online and field. Based on application, the market has been segmented into gas applications (air quality monitoring, emission monitoring, process monitoring), and liquid applications (pure water, process liquid, wastewater treatment).
- The ultraviolet analyzer market study has been segmented based on industry into environmental, chemical & pharmaceuticals, oil & gas, energy & power, food & beverages, semiconductor, and others ( agriculture, metals & mining, marine, and paper & pulp). Based on the region, the market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Reasons To Buy Report
The report would help market leaders/new entrants in the following ways:
- This report segments the ultraviolet analyzer market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different treatment types, device types, applications, and regions.
- The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business.
- The competitive landscape section includes competitor ecosystem, product launches and developments, acquisitions, and partnerships in the ultraviolet analyzer market.