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New Product Launches to Increase Penetration of Electrochemical Instrumentation
The electrochemical instrumentation market is highly fragmented with few large and many small players including HANNA Instruments, Inc. (U.S.), Metrohm AG (Switzerland), Xylem Inc. (U.S.), METTLER-TOLEDO International, Inc. (U.S.), DKK TOA Corporation (Japan), Danaher Corporation (U.S.), Endress+Hauser AG (Switzerland), Thermo Fisher Scientific, Inc. (U.S.), Yokogawa Electric Corporation (Japan), and Horiba Ltd. (Japan). Each segment of the electrochemical instrumentation as well geographical region is dominated by different players based on the product offering.
The key players in the global breath analyzers market followed various growth strategies such as new product launches; agreements, partnerships and collaborations; marketing and promotion; expansions; and acquisitions to maintain their market position. New product launches was primarily adopted by the companies to extend their product portfolios and strengthen their competitive position in the electrochemical instrumentation market. The strategy accounted for 57% of overall growth strategies adopted by the players in this market during 2012 to 2014. For instance, in February 2015, WTW, a Xylem brand launched four new electrodes in its IDS pH electrodes series. The new electrodes include SenTix 945, SenTix Micro 900, SenTix Sp-T 900, SenTix HWT-T 900, SenTixORP-T 900. All the new electrodes are equipped with built in temperature sensor. Metrohm AG (Switzerland), Hanna Instruments, Inc. (U.S.), and METTLER-TOLEDO International, Inc. (U.S.) are some of the other players that adopted this strategy.
The companies also undertook expansion, and partnerships to strengthen their product lines and to expand their geographic footprints. The strategy of expansion is accounted for 13% of the overall growth strategies adopted by the players in this market during 2012 to 2014 and was adopted by market player such as Thermo Fisher Scientific, Inc. (U.S.), Endress+Hauser AG (Switzerland). For instance, in September 2014, Endress+Hauser opened new state-of-the-art customer center in Greenwood, Indiana with an investment of $16 million. The new 80,000 square feet customer center is expected to help the company to enhance and optimize its customer support in the U.S. market and increase its market share in the region.
Electrochemical Instruments Market by Product (Electrochemical Meters, Titrators, Ion Chromatographs), by Technology (Potentiometry, Coulometry, Voltammetry), by End User (Environmental Testing, Food & Agriculture) - Analysis & Global Forecast to 2019
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