NEW YORK, Feb. 25, 2016 /PRNewswire/ -- The global process analyzers (liquid & gas) market is expected to reach USD 4.98 billion by 2020, at an estimated CAGR of 5.50% between 2015 and 2020. The major factors contributing to the growth of this market include the increasing usage of a wide range of analyzers in various process industries to monitor various hazardous liquids and gases. The gas chromatography market is estimated to grow to USD 3.90 billion, whereas the spectroscopy market is projected to reach USD 22.04 billion by 2020, at a CAGR of 8.60% and 8.72%, respectively, during the forecast period. The growth in the gas chromatography market can be attributed to the increasing adoption of this technology in the petrochemical industries for oil extraction and refinery-related activities. On the other hand, the growth of the spectroscopy market is majorly driven by the adoption of various spectroscopy techniques such as molecular, atomic, and mass spectrometry in the process industries.
"The process analyzers, gas chromatography, and spectroscopy markets for the pharmaceutical industry expected to grow rapidly during the forecast period"
The process analyzers, gas chromatography, and spectroscopy markets for the pharmaceutical industry held the largest share of the global process (liquid & gas) analyzers, gas chromatography, and spectroscopy markets in 2014 and this trend is expected to continue during the forecast period. This growth is majorly driven by the stringent drug regulations framed by the international regulatory bodies such as U.S. Food and Drug Administration, World Health Organization, and European Medicines Agency for the manufacturing, processing, and distribution of pharmaceutical products.
"APAC to be the fastest growing market during the forecast period"
The global process analyzers, gas chromatography, and spectroscopy markets in the Americas held the largest share in 2014; however, the markets in APAC are expected to exhibit the highest growth rate during the forecast period. The major factors contributing to the growth of these markets include high investments by major players in various process industries. The markets in the Americas and Europe are already mature; hence, the well-established players are focusing on APAC to market their products and services. With the increasing investments in the process industries, the demand for liquid and gas analyzers, gas chromatographs, and spectrographs is also increasing.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the market. The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1%–55 %, Tier 2%–20% and Tier 3%–25%
- By Designation: C-level – 60%, Director level – 25%, Others – 15%
- By Region: North America – 10%, Europe – 20%, APAC – 40%, RoW – 30%
The prominent players profiled in this report are:
1. ABB Ltd. (Switzerland)
2. AMETEK Process Instruments (U.S.)
3. Applied Analytics, Inc. (U.S.)
4. Endress+Hauser AG (Switzerland)
5. The Emerson Electric Company (U.S.)
6. GE Analytical Instruments (U.S.)
7. Mettler-Toledo International Inc. (U.S.)
8. PAC L.P. (U.S.)
9. Siemens AG (Germany)
10. Thermo Fisher Scientific, Inc. (U.S.)
11. Yokogawa Electric Corp. (Japan)
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the process analyzers (liquid & gas), gas chromatography, and spectroscopy markets comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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