NEW YORK, November 30, 2016 /PRNewswire/ --
Global Total Carbon Analyzer Market Revenue to Register a CAGR of 8.1% in Terms of Value and 7.6% in Terms of Volume by 2024; Increasing Demand for Laboratory Total Carbon Analyzers Likely to Fuel Market Growth.
Persistence Market Research (PMR) delivers key insights on the global total carbon analyzer market in its latest report titled, "Global Market Study on Total Carbon Analyzer: Pharmaceuticals Application Segment Anticipated to Register High CAGR During 2016 - 2024". According to the report, the global total carbon analyzer market is estimated to be valued at US$ 843.5 Mn by the end of 2016.
Factors impacting the global total carbon analyzer market
The microelectronics industry is growing at a significant growth rate, attributed to technical advancements and growing demand for electronics across the globe which leads to high demand for ultra-pure water for microelectronic manufacturing. The Pharmaceutical industry has a significant share in total carbon analyzer market for analyzing the water for injection, purified water, and water as a raw material for preparing various pharmaceutical formulations. The global pharmaceutical industry is growing a significant growth rate which leads to high demand for total carbon analyzers in the market. Manufacturing industries across the majority of domains have to comply with regulatory standards and guidelines set by government agencies such as the Food and Drug Administration (FDA), US Environment Protection Agency (EPA), and Pharmacopeia of Japan, United States, Europe, and India. This, in turn, leads to the adoption of water analytical instruments for evaluating the water quality as well as the quality of other raw materials. Economy transforming from primarily agricultural to secondary one based on the manufacturing of goods using advanced manufacturing technology results in industrialization. This, in turn, leads high demand for analytical instruments to maintain safety and regulatory standards, which results in high demand for total carbon analyzer as it has relatively high demand among other analytical instruments.
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Global total carbon analyzer market forecast
On the basis of product type, the laboratory segment is anticipated to account for US$ 1,033.1 Mn by 2024, registering a substantially high CAGR of 7.9% over the forecast period with relatively high value share of 65.1%. This is followed by on-line segment with revenue of US$ 331.3 Mn with market share of 22.6% by 2024 end. On the basis of application, the pharmaceuticals segment is expected to have significant market share of 37.7% with growth rate 8.1% followed by semiconductors with 8.2% growth rate with market share of 24.1% by the end of 2024. On the basis of end-use, the industries segment is anticipated to account for US$ 1,168.0 Mn by 2024, witnessing a substantially high CAGR of 8.1% over the forecast period with relatively high value share of 73.6%. On the basis of sample type, the TC for liquid sample segment is expected to hold significant market share of 52.4% with a growth rate of 7.3%.
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On the basis of regions, Europe is estimated to be the largest market for total carbon analyzer in 2016, accounting for 38.6% value share of the global total carbon analyzer market in 2016. The region continues to dominate the market and is expected to continue to do so throughout the forecast period. Whereas MEA is projected to be the fastest market over the forecast period, with growth rate of 10.3% over the forecast period. The markets in North America and Asia-Pacific are anticipated to contribute majorly to the global total carbon analyzer market. Western Europe countries are investing substantially in total carbon analyzer manufacturing especially in NDIR method based total carbon analyzer followed by conductivity method. With user-friendly protocols for using total carbon analyzer in the MEA, the market for total carbon analyzer is growing. Also, growing microelectronics & pharmaceutical industry, regulations over the product across the industries in order to maintain safety, and growing industrialization there is an increasing demand for total carbon analyzer across the globe and is expected to increase significantly over the forecast period.
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Global total carbon analyzer market competitive landscape
Key total carbon analyzer market participants covered in this report include Shimadzu Corporation, Xylem Inc., Hach Company, Inc., Teledyne Analytical Instruments, Analytik Jena AG, Mettler-Toledo International Inc., GE Analytical Instruments, Inc., Skalar Analytical B.V., ELTRA GmbH, and UIC, Inc.
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