Spectroscopy IR Detector Market worth 224.5 M USD by 2022

Friday 26 August 2016, Amsterdam

According to the MarketsandMarkets report, now available on ASDReports, "Spectroscopy IR Detector Market by Detector Technology (DTGS, MCT, InGaAs), Spectrum Sensitivity (NIR, Mid IR, and Far IR), Cooling Requirement (Cooled and Uncooled), Product Type (Benchtop, Portable, Hyphenated) - Global Forecast to 2022", the overall market is estimated to be worth USD 224.5 Million by 2022, growing at a CAGR of 6.9% between 2016 and 2022, whereas the unit shipment of IR detector is expected to grow at a CAGR of 7.7% between 2016 and 2022. The major factors driving the growth of the IR detector market for IR spectroscopy include upgradation of IR spectroscopy devices by replacing with new IR detector modules and the growing shipment of IR spectroscopy devices in various industries.

The benchtop IR spectroscopy device segment held the largest share of the IR detector market in 2015

The benchtop IR spectroscopy device segment held the largest share of the IR detector market in 2015, while the market for portable IR spectroscopy device is expected to grow at a significant rate between 2016 and 2022. In the current scenario, benchtop IR spectroscopy plays a key role in a number of industries such as pharmaceutical, biological, chemicals, food & beverages, and others. The increasing shipment of benchtop and portable IR spectroscopy devices is driving the growth of the IR detector market.

Mid IR detector plays a key role in the IR detector market

The IR detector market for IR spectroscopy has been segmented on the basis of spectrum sensitivity into NIR, Mid IR, and Far IR. Of all these, mid IR is expected to hold the largest market share during the forcast period owing to the wide range of applications of mid IR spectroscopy in the research and industrial sector. Along with this, the market for NIR spectroscopy devices is expected to grow at a significant rate during the forecast period, which would, in turn, drive the growth of NIR detector market in the near future.

APAC region would grow at a significant rate during the forecast period

The market in APAC is expected to grow at a significant rate in the IR detector market for IR spectroscopy in the near future because of factors such as the presence of a large number of IR detector and IR spectroscopy device manufacturing companies in the region. For instance, in April 2016, Hamamatsu Photonics K.K. (Japan) announced its plans to establish a new optosemiconductor manufacturing unit in Japan by February 2017. Similarly, Thermo Fisher Scientific Inc. (U.S.) has expanded its business by establishing an innovation center in China; it has invested around USD 9.5 million for R&D in this center. Also, DANI Instruments SpA (Italy) has signed a distribution agreement with Labindia Instruments Pvt. Ltd. (India).

The key companies operating in the IR detector market include Hamamatsu Photonics K.K. (Japan), Excelitas Technologies Corp. (U.S.), LASER Components GmbH (Germany), UTC Aerospace Systems (U.S.), Newport Corporation (U.S.), and others.