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The process analyzer market share is expected to increase to USD 2.08 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.53%.
This process analyzer market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers process analyzer market segmentation by end-user (oil and gas, chemical and petrochemical, healthcare, water and wastewater treatment, and others) and geography (APAC, North America, Europe, Middle East and Africa, and South America).
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The process analyzer market report also offers information on several market vendors, including ABB Ltd., Agilent Technologies Inc., AMETEK Inc., Aneolia SARL, Bruker Corp., Danaher Corp., Emerson Electric Co., Endress Hauser Group Services AG, Honeywell International Inc., KROHNE Messtechnik GmbH, Metrohm AG, Mettler Toledo International Inc., Modcon Systems Ltd., PerkinElmer Inc., Schneider Electric SE, Siemens AG, Spectris Plc, Teledyne Instruments Inc., Testo SE and Co. KGaA, Thermo Fisher Scientific Inc., and Yokogawa Electric Corp. among others.
The capacity additions in major end-user industries is notably driving the process analyzer market growth, although factors such as low adoption by small-scale industrial facilities in developing countries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the process analyzer industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Process Analyzer Market Driver
One of the key factors driving the global process analyzer market growth is the capacity additions in major end-user industries. Process industries such as petrochemicals, food and beverages, and healthcare, including pharmaceuticals and biotech, are among the major end-user industries of process analyzers. The growing demand for industrial and consumer products results in capacity additions in the global petrochemical industry. For instance, there is an increasing demand for fertilizers, especially from China, India, and Brazil. The arable land is limited, but the demand for food grains continues to grow. In addition, increasing disposable household incomes in developing countries and resultant strengthening demand for automobiles, home appliances, and construction materials such as paints and dyes are augmenting investments in the petrochemical sector. Such factors will drive the concerned market growth during the forecast period.
Key Process Analyzer Market Trend
Vendors introducing portable process analyzers is one of the key process analyzer market trends that is expected to impact the industry positively in the forecast period. For instance, TECsoft, a testing and emission compliance software from Testo SE (Secure Element) and Co. KGaA, for its Testo 350 portable emission analyzer. This software has improved the testing and data handling capacity of the portable emission analyzer. In addition, the ease of carrying a process analyzer to a production line reduces the number of instances when the analysis is not performed due to human negligence, after which fudged data could be recorded. Combustion or emission analyzer is the most common handheld or portable analyzer as of today. However, the vendors are expected to launch portable versions of a few more analyzers during 2022-2026. Such factors are expected to further support the market growth in the coming years.
Key Process Analyzer Market Challenge
One of the key challenges to the global process analyzer market growth is the low adoption by small-scale industrial facilities in developing countries. Consistent quality output and optimum production costs are very important in large industrial facilities owing to the various service level agreements (SLAs) they have with their customers. For instance, a sugar manufacturer selling sugar to a processed food manufacturer, such as Nestle S.A. or Mondelez International, is required to comply with standards for sugar defined by its customer. Thus, the sugar manufacturer is more likely to use suitable process analyzers in its production processes to ensure consistent chemical composition and physical properties of the sugar it produces. Similarly, large industrial facilities are also subject to intensive regulatory oversight than small-scale industries, especially in developing countries. Considering that small-scale industrial facilities constitute significantly of industrial facilities in developing countries, the low adoption of process analyzers would hinder the growth of the market during the forecast period.
This process analyzer market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global process analyzer market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the process analyzer market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the process analyzer market encompasses successful business strategies deployed by the key vendors. The process analyzer market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The process analyzer market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the process analyzer market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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49% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for process analyzers in APAC. Market growth in this region will be faster than the growth of the market in North America, South America, and Europe
The significant increase in investments in processed food and FMCG sectors owing to factors such as rapid urbanization and increase in disposable income will facilitate the process analyzer market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 negatively hampered the production of process analyzers in APAC as various governments across the region imposed nationwide lockdowns and travel restrictions to prevent the spread of the disease. However, in 2021, with rapid vaccination drives, the government lifted the lockdown, and travel restrictions, which resulted in the resumption of supply chain and manufacturing plants, including the manufacturing processes of chemicals and petrochemicals, cement, steel, and petroleum end-products. Due to this, the demand for process analyzers increased in this region, which is expected to drive the growth of the regional process analyzer market during the forecast period.
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The process analyzer market share growth by the oil and gas segment will be significant during the forecast period. The growth is attributed to the significant increase in demand for natural gas and its production activities, which will boost the adoption rate of process analyzers in the oil and gas industry.
This report provides an accurate prediction of the contribution of all the segments to the growth of the process analyzer market size and actionable market insights on post COVID-19 impact on each segment.
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Process Analyzer Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.53% |
Market growth 2022-2026 |
$ 2.08 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.14 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 49% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ABB Ltd., Agilent Technologies Inc., AMETEK Inc., Aneolia SARL, Bruker Corp., Danaher Corp., Emerson Electric Co., Endress Hauser Group Services AG, Honeywell International Inc., KROHNE Messtechnik GmbH, Metrohm AG, Mettler Toledo International Inc., Modcon Systems Ltd., PerkinElmer Inc., Schneider Electric SE, Siemens AG, Spectris Plc, Teledyne Instruments Inc., Testo SE and Co. KGaA, Thermo Fisher Scientific Inc., and Yokogawa Electric Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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