Process Analyzer Market

[238 Pages Report] The global Process Analyzer market is expected to grow from USD 7.8 billion in 2023 to USD 9.3 billion by 2028, registering a CAGR of 3.6%. The demand for exceptionally precise process analyzers is escalating within the expanding domains of drug development, bioprocessing, and personalized medicine. These analytical instruments are indispensable in research, development, and pharmaceutical manufacturing, guaranteeing the highest levels of quality.

Process Analyzer Market Forecast to 2028

To know about the assumptions considered for the study, Request for Free Sample Report

Market Dynamics

Driver: Rising demand for water and wastewater treatment

The world is witnessing a reduction in freshwater availability due to various factors, including climatic changes, disturbing weather patterns, and increasing pollution. There is a rising awareness to conserve water and take initiatives such as increasing the efficiency of water supply systems, rainwater harvesting, and wastewater treatment. Wastewater is water used in industrial plants or households. It must be treated before it is released into another body of water, such as a river or lake, so it does not cause further pollution of water sources. There is an urgent demand for safe drinking water globally, increasing the requirement for water and wastewater treatment plants. Such plants use various types of process analyzers to monitor the chemicals present in the water. Several companies have started investing in water and wastewater treatment plants to provide safe drinking to people worldwide. The demand for water in the pharmaceuticals and food industries has also propelled the demand for liquid and gas analyzers with advanced control capabilities.

Restraint: High infrastructure cost

The initial capital expenditure required to develop process analyzers may emerge as a major restraint for the growth of this market. The process analyzers introduced by a company must be innovative and different from those available in the market. The reliability of the instrument and the accuracy of the results obtained from it form the major criteria for the acceptance of the product in the market. In the past, process measurements were often done off-line; this involved taking samples from the process and analyzing them in the laboratory. Apart from the delay in obtaining results, this also led to the possibility of samples getting contaminated. These factors prompted the need for process analyzers with capabilities for real-time online analysis. Implementation of such online analyzers results in additional costs of installation in protected cabinets with cooling capabilities to dissipate the heat generated by the analyzers. Such installations include sample conditioning systems (SCS), which typically divert, deliver, and return small quantities of liquid or gas from the process streams to the analyzers. The SCS operation is a key determinant for the analyzer output; however, it adds to the costs as it is difficult to design, install, and operate. Thus, with increasing applications, it is imperative on the part of the market to not only meet the power efficiency in a cost-effective manner but also to manage the power consumption.

Opportunity: Growing demand for environmental monitoring

Process analyzers are essential instruments within industrial settings, providing continuous monitoring capabilities for emissions and critical process parameters in real time. These analyzers play a pivotal role in assisting industries in adhering to environmental regulations by furnishing precise and dependable data concerning pollutant levels, temperature, pressure, flow rates, and chemical composition. This data ensures conformity with emission standards and enables proactive adjustments to processes, reducing both pollutant emissions and deviations from typical operating conditions. Beyond meeting regulatory obligations, process analyzers contribute to environmental safeguarding by curtailing air and water pollution, safeguarding ecosystems, and bolstering public health. Furthermore, they support energy efficiency initiatives, pinpoint areas for process enhancement, enhance safety by identifying releases of hazardous substances, and facilitate comprehensive documentation and reporting to ensure transparency and accountability. Process analyzers are indispensable tools for industries striving to mitigate their environmental impact while optimizing operations for sustainability and compliance with regulations.

Challenge: Complexity of installation and operation

The challenges involved in the installation and operation of process analyzers can present notable challenges, particularly for users located in remote areas. These analyzers are meticulously designed instruments tasked with precisely monitoring a wide array of parameters within industrial processes. Setting them up correctly demands expertise in calibration, sensor placement, and seamless integration into existing process control systems. Beyond installation, their ongoing operation necessitates regular maintenance, periodic calibration, and troubleshooting in case of malfunctions. These operational aspects typically require personnel with specialized knowledge and training. In remote regions where access to such expertise may be limited, the complexity associated with the installation and operation of process analyzers can result in prolonged downtime, reduced analytical accuracy, and increased operational costs. Although advancements in analyzer technology have introduced features like remote monitoring and user-friendly interfaces, ensuring that users, particularly those in remote locations, receive adequate training and support remains essential. This approach is critical for optimizing the advantages of process analyzers and effectively addressing the intricacies tied to their use.

Process Analyzer Market Ecosystem

Component suppliers and system integrators have witnessed a decline in production activities. Consequently, OEMs have needed more essential components. The figure below shows the Process Analyzer ecosystem.

MLSS analyzer segment to grow at highest CAGR in the forecast period 2023-2028

The rise in utilization of MLSS analyzers is fueled by their crucial contribution to wastewater treatment processes. These analyzers are pivotal in monitoring and optimizing microorganism concentration within activated sludge, a key element in wastewater treatment. The demand for effective wastewater treatment has surged due to the increasing focus on environmental sustainability and strict regulatory guidelines. MLSS analyzers are instrumental in maintaining the correct microorganism concentration, aiding in efficient waste breakdown. Additionally, advancements in sensor technology and automation have further bolstered the adoption of MLSS analyzers, ensuring accurate, real-time monitoring for efficient wastewater management and regulatory adherence.

Oxygen Analyzer segment to grow at highest CAGR in the forecast period 2023-2028.

An oxygen analyzer holds significance among gas analyzers widely applied across diverse industries. Oxygen plays a vital role in combustion processes, determining if the combustion is rich or lean based on its concentration. These analyzers find utility in boiler combustion control, measuring oxygen levels in flammable gas mixtures, and environmental monitoring in reflow furnaces and globe boxes. Anticipated widespread utilization of oxygen analyzers across industries is projected to drive the oxygen analyzer segment, enabling it to achieve the highest Compound Annual Growth Rate (CAGR) during the forecast period..

Pharmaceuticals Industry is expected to register highest CAGR during the forecast period

The pharmaceutical industry is poised for remarkable growth, primarily due to stringent quality regulations governing pharmaceutical products. Essential for monitoring crucial process parameters within this sector, a range of gas and liquid analyzers have become indispensable tools. Their significance lies in ensuring compliance with regulatory standards and maintaining the highest product quality. With a strong emphasis on quality control and adherence to guidelines, these analyzers play a vital role in enhancing processes and elevating the overall efficiency of pharmaceutical operations..

Process Analyzer Market by Region

To know about the assumptions considered for the study, download the pdf brochure

Asia Pacific to grow at highest CAGR during the forecast period

In 2022, the Asia Pacific region held the dominant global process analyzer market share. The extensive adoption of process analyzer solutions in Asia can be attributed to its expansive manufacturing base. Many prominent global corporations across various sectors have relocated their manufacturing facilities to this region due to cost-effective labor and ready access to a proficient workforce. The Asia Pacific is home to major industries like automotive, consumer electronics, pharmaceuticals, refining, and mining, further consolidating its position as a key hub for these sectors.

Key Market Players

The Process Analyzer companies players have implemented various organic and inorganic growth strategies, such as product launches, collaborations, partnerships, and acquisitions, to strengthen their offerings in the market. The major players in the market are ABB (Switzerland), Emerson Electric Co. (US), Siemens (Germany), Endress+Hauser Group Services AG (Switzerland), Yokogawa Electric Corporation (Japan), Mettler Toledo (US), Suez (US), Thermo Fisher Scientific, Inc. (US), Ametek. Inc.(US), Anton Paar GmbH (Austria) and Others

The study includes an in-depth competitive analysis of these key players in the Process Analyzer market with their company profiles, recent developments, and key market strategies.

Get online access to the report on the World's First Market Intelligence Cloud

• Easy to Download Historical Data & Forecast Numbers
• Company Analysis Dashboard for high growth potential opportunities
• Research Analyst Access for customization & queries
• Competitor Analysis with Interactive dashboard
• Latest News, Updates & Trend analysis

Request Sample

Click on image to enlarge

Scope of the Report

Process Analyzer Market Highlights

This report has segmented the Process Analyzer market based on offerings, Liquid Analyzer, Gas Analyzer, and Industry and Region.

Recent Developments:

• In April 2023, Thermo Fisher Scientific Inc. introduced two novel wet chemistry analyzers, providing fully automated testing in compliance with the U.S. Environmental Protection Agency (EPA) standards. These systems cater to environmental, agricultural, and industrial testing laboratories with precise and streamlined analytical capabilities.
• In December 2022, ABB launched Sensi+ analyzer, revolutionizing natural gas quality monitoring. This single device detects H2S, H2O, and CO2 contaminants, enhancing pipeline safety, efficiency, and cost-effectiveness with real-time analysis, swift upset responses, and reduced emissions.
• In November 2022, Mettler Toledo introduced the latest iteration of Easy Vis, a compact solution for analyzing liquid samples. This device evaluates optical spectrum, color, and water characteristics, combining functionalities of a colorimeter, spectrophotometer, and water testing methods within a single, portable unit, replacing the need for three separate instruments.

FAQs:

To speak to our analyst for a discussion on the above findings, click Speak to Analyst