Technological advancements in the Process Analyzer Market have led to the development of high-performance analyzers that enable a high speed of response. They are being incorporated with high-quality sensors to ensure high accuracy during operations. Robust analyzers that can withstand harsh industrial environments and high temperatures are being manufactured. The growing need for efficient and fast analysis in industries to improve the productivity will boost the process analyzer market growth.
Process analyzers is an engineering tool that is particularly used for persistent monitoring of parameters including gas, solids and liquid content while a manufacturing procedure. These analyzers are widely used to observe and recognize the chemical, physical, molecular, and essential properties of a sample thus helps to find applications in measurement, quality control, process optimization, and safety control.
Growing demand for water & wastewater treatment plants is the major driver which helps in surging the growth of process analyzer market whereas shortage of skilled process technicians act as a restraining factor for this market. Growth in the pharmaceuticals industry will add new opportunities for this market in the coming years.
The key players influencing the market are ABB Ltd., Hach Lange GmbH, Honeywell International, Inc., Teledyne Technologies, Inc., Endress+Hauser AG, GE Analytical Instruments, Mettler-Toledo International Inc., The Emerson Electric Company, Thermo Fisher Scientific, Inc., Yokogawa Electric Corp.
Stringent government regulations pertaining to food and beverage production will compel the industries to use high-quality analyzers, thereby positively impacting the process analyzer market. The growing competition in the food and beverage sector is forcing companies to use high-quality solutions for regulating food quality to ensure customer satisfaction. These systems help in the continuous monitoring of food products, thereby certifying the quality of production. These systems are also being used by industries to ensure the quality of raw materials received. There is a demand for enhanced solutions for temperature monitoring in fridges and freezers.
The flourishing industrial sector in Asia Pacific is encouraging the demand for high-performance automation solutions that will aid the process analyzer market growth. The booming manufacturing sector in countries including China, Japan and India will encourage the adoption of these systems. Growing electronics industry and advent of Industry 4.0 in several countries in Asia Pacific will further encourage the process analyzer market growth. The growing popularity of smart and connected factories in countries such as Singapore and India will also support the industry growth.
In the oil & gas industry, the adoption of these systems is anticipated to increase owing to the ongoing technological advancements in these analyzers. The incorporation of advanced optical techniques such as Raman spectroscopy and Tunable Diode Laser Absorption Spectroscopy (TDLAS) that facilitate automatic validation will propel the process analyzer market growth. The tunable diode laser technology enables real-time and fast measurement. The technology also enables long-term stability through maintenance free and inbuilt reference gas cell, thereby eliminating the need for field calibration. In addition, the demand for high-quality gas analyzers in manufacturing, chemicals, medical & pharmaceutical, food, and metal industries will propel the process analyzer market growth.