Process Analyzer Market Size, Share, Statistics and Industry Growth Analysis Report by Liquid Analyzer (MLSS, Total Organic Carbon, pH, Liquid Density, Conductivity, Dissolved Oxygen), Gas Analyzer (Oxygen, Carbon Dioxide, Moisture, Toxic Gas, Hydrogen Sulfide), Industry and Region - Global Growth Driver and Industry Forecast to 2028
Process Analyzer Market Size & Share
The global Process Analyzer market size 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
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Process Analyzer Market Trends
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.
By Liquid Analyzer, 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.
By Gas Analyzer, 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..
By Industry, Pharmaceuticals 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
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By Region, 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.
Process Analyzer Companies - 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.
Process Analyzer Market Report Scope
|
Report Metric |
Details |
| Estimated Market Size | USD 3.9 billion in 2023 |
| Projected Market Size | USD 6.2 billion by 2028 |
| Growth Rate | CAGR of 10.0% |
|
Years Considered |
2019–2028 |
|
Base Year Considered |
2022 |
|
Forecast Period |
2023–2028 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Segments Covered |
By Liquid Analyzer, By Gas Analyzer, By Industry, and Region |
|
Regions Covered |
North America, Asia Pacific, Europe, and the Rest of the World |
|
Companies Covered |
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 a total of 25 players covered |
Process Analyzer Market Highlights
This report has segmented the Process Analyzer market based on offerings, Liquid Analyzer, Gas Analyzer, and Industry and Region.
|
Segment |
Subsegment |
|
By Liquid Analyzer |
|
|
By Gas Analyzer |
|
|
By Industry |
|
|
By Region |
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Recent Developments in Process Analyzer Industry
- 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:
What will be the Process Analyzer market size in 2023?
The Process Analyzer market will be valued at USD 7.8 billion in 2023.
What CAGR will be recorded for the Process Analyzer market from 2023 to 2028?
The global Process Analyzer market is expected to record a CAGR of 3.6% from 2023–2028.
Who are the top players in the Process Analyzer market?
The significant vendors operating in the Process Analyzer market include 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).
Which significant countries are considered in the Asia Pacific region?
The report includes an analysis of China, Japan, , India, and the Rest of Asia Pacific.
Which types have been considered in the Process Analyzer market?
Liquid Analyzer & Gas Analyzer are considered in the market study.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involves four significant activities for estimating the size of the Process Analyzer market. Exhaustive secondary research has been conducted to collect information related to the market. The next step is to validate these findings and assumptions related to the market size with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the overall size of the Process Analyzer market. After that, market breakdown and data triangulation procedures were used to determine the extent of different segments and subsegments of the market.
Secondary Research
Secondary sources for this research study included corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers; certified publications, articles by recognized authors; directories; and databases. The secondary data has been collected and analyzed to determine the overall market size, further validated through primary research.
Primary Research
Extensive primary research has been conducted after gaining knowledge about the current scenario of the Process Analyzer market through secondary research. Several primary interviews have been conducted with experts from the demand and supply sides across four major regions—North America, Europe, Asia Pacific, and RoW. This primary data has been collected through questionnaires, emails, and telephonic interviews.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete market engineering process, top-down and bottom-up approaches and several data triangulation methods have been implemented to estimate and validate the size of the Process Analyzer market and other dependent submarkets listed in this report.
- The key players in the industry and markets have been identified through extensive secondary research.
- The supply chain of the industry and the market size, in terms of value, have been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Process Analyzer Market: Top-Down Approach
- In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits obtained from secondary and primary research.
- For calculating the Process Analyzer market segments, the market size obtained by implementing the bottom-up approach has been used to implement the top-down approach, which was later confirmed with the primary respondents across different regions.
- The bottom-up approach has also been implemented for the data extracted from secondary research to validate the market size of various segments.
- Each company’s market share has been estimated to verify the revenue shares used earlier in the bottom-up approach. With the help of data triangulation and validation of data through primaries, the size of the overall Process Analyzer and each market have been determined and confirmed in this study.
Data Triangulation
After arriving at the overall market size, the total market has been split into several segments. The market breakdown and data triangulation procedures have been employed wherever applicable to complete the overall market engineering process and arrive at exact statistics for all segments. The data was then triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.
Market Definition
Process analyzers are online instrumentation tools for industrial process analysis. They are used to identify the composition or physical properties of substances involved in the industrial process. Process analyzer equipment eliminates the need for routine sampling of an industrial process, which is time-consuming and may not provide representative samples. Process analyzer equipment caters to various industries such as oil & gas, petrochemicals, food & beverage, water & wastewater, pulp & paper, metal & mining, thermal power, and cement & glass. These analyzers also enable asset protection, process optimization, and compliance with environmental regulations. The Key players in the Process Analyzer 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 Other Players.
Key Stakeholders
- Original equipment manufacturers (OEMs)
- Providers of technology solutions
- Research institutes
- Market research and consulting firms
- Forums, alliances, and associations related to Process Analyzer
- Technology investors
- Governments and financial institutions
- Analysts and strategic business planners
- Existing end users and prospective ones
Report Objectives:
- To describe and forecast the Process Analyzer market in terms of value based on Liquid Analyzer, Gas Analyzer, and Industry
- To describe and forecast the Process Analyzer market size in terms of value for four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the Process Analyzer market
- To provide a detailed overview of the supply chain of the ecosystem
- To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
- To analyze the probable impact of the recession on the market in the future
- To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of market ranking/share and product portfolio.
- To analyze competitive developments such as acquisitions, product launches, partnerships, expansions, and collaborations undertaken in the Process Analyzer market
Available Customization:
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for this report:
- Company Information: Detailed analysis and profiling of additional five market players
Growth opportunities and latent adjacency in Process Analyzer Market