The Process Analyzer Market is a rapidly growing industry that provides analytical solutions to a wide range of process industries such as oil and gas, chemical, pharmaceutical, and food and beverage. Process analyzers are used to monitor and measure various parameters such as pH, temperature, pressure, flow, and concentration of substances in real-time, helping industries ensure optimal product quality, reduce waste, and improve efficiency. With the increasing demand for high-quality products and the need for accurate and reliable process control, the process analyzer market is expected to witness significant growth.
The Process Analyzer Market size was valued at $7.7 billion in 2020, and is expected to reach $12.2 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.
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Top Companies
ABB Ltd., AMETEK Process Instruments, Applied Analytics, Inc., Endress+Hauser AG, Emerson Electric Co., Mettler-Toledo International Inc., Siemens AG, Suez, Thermo Fisher Scientific, Inc., and Yokogawa Electric Corporation.
The major driving factor of the process analyzer market is rising demand for wastewater treatment facilities to tackle the problem of water & wastewater generated by municipal as well as industrial waste. In addition, growth of pharmaceutical and chemical industries has led to rise in demand for process analyzers. Furthermore, adoption of automation in manufacturing industries has led to installation of process analyzers in production facilities.
However, lack of skilled professional makes it difficult to monitor and operate the process analyzing system. Attributed to this, errors in detection, monitoring, and sampling can occur. In addition, high-end sensors and analyzing software lead to increased cost of the process analyzers. Furthermore, outbreak of COVID-19 has led to halt in construction and manufacturing activities across the globe. Halt in logistics services has led to halt in the construction industry, which, in turn, hinders the growth of the for a very brief period. However, industries have gradually got back on track and vaccine discovery is expected to lead to recovery of the process analyzer market trend by mid-2021.
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On the contrary, there is a lot of expansion of industries, especially in emerging countries, such as India, China, and Brazil, and other developing countries. This will be an opportunity for the process analyzer market growth during the forecast period.
The process analyzer industry is segmented on the basis of analysis type, analyzing material state, end-user industry, and region. On the basis of type, the market is divided into online analysis, inline analysis, and atline analysis. Depending on analyzing material state, it is classified into under liquid and gas. On the basis of end-user industry, it is fragmented into oil & gas, pharmaceuticals, water & wastewater, chemical, and others. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Russia, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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