The global market for process analyzer market is projected to have a considerable CAGR of around 8.1% during the forecast period. Process analyzers are electronic tools used for the examination of various industrial processes. They determine the chemical composition and physical properties of substances to enable process optimization and asset protection. They can also withstand harsh environments and extreme climatic conditions. Owing to these benefits, process analyzers are widely used in the chemical, oil and gas, petrochemical, and pharmaceutical sectors. Furthermore, as industrial wastewater contains high quantities of salts, particles, and toxic materials that are damaging to the environment, there is an increasing demand for wastewater treatment plants. The need for wastewater treatment and disposal is increasing as a result of the growing water shortage, which is also contributing to market growth. However, the need for highly skilled employees is required in the process analyzer sector for method operation, development, validation, and troubleshooting.
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Impact of COVID-19 on Process Analyzer Market
COVID-19 had a positive impact on the pharmaceuticals market, however, the industries such as manufacturing, construction, oil & gas were majorly affected. Construction activities were halted and restricted to a large extent. On the other hand, manufacturing and transportation activities along with their supply chains were hampered on a global level. These all factors directly hampered the process analyzer market growth during the COVID-19 pandemic. On the contrary, gradually all these industries are resuming their regular manufacturing and services that are expected to again assist the market to recover by mid-2022.
Segmental Outlook
The global Process Analyzer Market is segmented based on the liquid analyzer, gas analyzer, and industry. Based on the liquid analyzer, the market is further classified as PH/ORP analyzer, conductivity analyzers, dissolved oxygen analyzers, turbidity analyzers, and others. Where gas analyzer is segregated into oxygen analyzer, carbon dioxide analyzer, hydrogen sulfide analyzer, moisture analyzer, toxic gas analyzer. Further, based on the industry the market is classified into oil & gas, petrochemicals, pharmaceuticals, water & wastewater, power, food & beverages, and others (Paper & Pulp, Metals & Mining, Cement & Glass, semiconductor processing).
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by Liquid Analyzer (PH/ORP Analyzer, Conductivity Analyzers, Dissolved Oxygen Analyzers, Turbidity Analyzers, and Others),
Gas Analyzer (Oxygen Analyzer, Carbon Dioxide Analyzer, Hydrogen Sulfide Analyzer, Moisture Analyzer, Toxic Gas Analyzer),
By Industry (Oil & Gas, Petrochemicals, Pharmaceuticals, Water & Wastewater, Power, Food & Beverages, and Others)
Market Players Outlook
The key players in the process analyzer market contribute significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include - ABB Ltd, Applied Analytics, Inc, Emerson Electric Co, Thermo Fisher Scientific, Inc, among others. These market players adopt various strategies such as product launches, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. In July 2019, Emerson has launched two new Rosemount 628 Universal Gas Sensors to measure carbon monoxide and oxygen depletion to the existing capability of hydrogen sulfide. The Rosemount 928 Wireless Gas Monitor platform can now monitor a wider range of hazardous circumstances due to these new additions to the series.
The Report Covers
Market value data analysis of 2021 and forecast to 2028.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global process analyzer market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where in the market.
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