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Process Analyzer Market to 2023 - Global Analysis and Forecasts by Services and Vertical
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The global process analyzer market is projected to witness a rapid growth during the forecast period owing to increasing demand for process analyzers across various application areas such as water & wastewater, food & beverages, pharmaceuticals among others. Moreover, increasing demand for process analyzers across various industries such as oil and gas is driving the market growth.
The global Process Analyzer Market by geography is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America market holds the largest share of the global process analyzer market and is also expected to witness significant growth during the forecast period. The U.S and Canada are anticipated to drive the growth of the process analyzer market in North America region owing to the presence of large number of established key players such as GE Analytical Instruments, Honeywell International, Inc., Mettler-Toledo International Inc., Teledyne Technologies, Inc., The Emerson Electric Company, and Thermo Fisher Scientific, Inc. among others in this region. Due to sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. The growth of the market is also attributed to rapid growth in modernization and the subsequent rising adoption of process quality control. In the global process analyzer market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to increasing demand for process analyzers across different industries such as oil & gas, pharmaceuticals, among others across different countries in the region. Also, with a considerable increase in disposable income, the consumption of oil has eventually increased which has further led to an increase in oil output from oil refineries and is boosting the growth of process analyzer market in the region.
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Global Process Analyzer Market is Projected to reach USD 3 billion at a CAGR of over 6% by the end of the forecast period 2017-2023.
Some of the prominent players in the global process analyzer market are ABB Ltd. (Switzerland), Endress+Hauser AG (Switzerland), GE Analytical Instruments (U.S.), Hach Lange GmbH (Germany), Honeywell International, Inc. (U.S.), Mettler-Toledo International Inc. (U.S.), Teledyne Technologies, Inc. (U.S.), The Emerson Electric Company (U.S.), Thermo Fisher Scientific, Inc. (U.S.), and Yokogawa Electric Corp. (Japan) among others.
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