Market Highlights
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.
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.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Process Analyzer Market Research Report-Forecast to 2023”.
Process Analyzer Market Segmentation
The global process analyzer market is segmented on the basis of type, service, and industry. The service segment is classified into pre-sales and post-sales. The pre-sales segment is further classified into start-up & commissioning services and technical support services. Whereas, the post-sales segment is further classified into parts & spares services, preventive maintenance services, and on-site training services. However, the post-sales service sub-segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing demand for post-sales support from the consumers in order to maintain quality and control.
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.
Market Research Analysis
North America is expected to hold the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The market in North America is anticipating rapid growth owing to the technological advancements and rise in demand for process analyzers across different industry verticals in this region. The U.S. holds the majority of market share owing to the increased demand for process analyzer solutions in oil & gas industry as well as growing disposable income in the region.
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Sourece- Market Research Future