CHICAGO, Oct. 18, 2019 /PRNewswire/ -- According to the new market research report "Ultraviolet Analyzer Market by Treatment Type (Liquid, Gas), Device Type (Online, Field), Industry (Oil & Gas, Chemicals & Pharmaceuticals, Environmental, Food & Beverages), Application, and Geography - Global Forecast to 2024", published by MarketsandMarkets™, the Ultraviolet Analyzer Market is expected to grow from USD 1.0 billion by 2019 to USD 1.4 billion by 2024 at a CAGR of 6.4% from 2019 to 2024. A few key factors driving the growth of this market include the rise in demand for environmental protection, which is expected to upsurge the demand for ultraviolet analyzers for emission monitoring, and stringent environmental standards and regulations.
Ultraviolet analyzer market for gas treatment to grow at highest CAGR during the forecast period
The demand for gas treatment is expected to grow at the highest CAGR during the forecast period. Ultraviolet analyzers for gas treatment are used widely for emission monitoring, air quality monitoring, and process control applications. Growing concerns toward environment monitoring boost the adoption of ultraviolet analyzers for gas treatment by end-users, such as municipalities, oil & gas industry, chemicals, and pharmaceuticals, and energy & power industries.
Air quality monitoring application is expected to hold the largest share of ultraviolet analyzer market during the forecast period
The growing concern about air pollution is creating a need for accurate analytical technologies to prevent further pollution of the atmosphere. The increasing need for environmental protection and stringent regulations on sulfur content in light oil and gasoline boost the adoption of ultraviolet analyzers which offer an extremely high degree of sensitivity and precision. Thus, the growing use of ultraviolet analyzers for air quality monitoring application is enhancing the growth prospects of the market.
North America to dominate the ultraviolet analyzer market during the forecast period
North America has been a significant contributor to the growth of the overall ultraviolet analyzer market as this region is the favorable economic conditions in the US and concerns pertaining to greenhouse gases, pollution, and environment have prompted process-driven sectors as well as manufacturing companies to deploy instruments for emission monitoring, and air quality monitoring at their plant locations. These factors are driving the growth of the ultraviolet analyzer market in this region.
The report profiles the most promising players in the market. The market is highly dynamic because of the presence of a significant number of big and small players operating in it. Key players in the market are ABB Ltd. (Switzerland), AMETEK, Inc. (US), Emerson Electric Co. (US), Halma plc (UK), Horiba, Ltd (Japan), Teledyne Analytical Instruments Inc. (US), Thermo Fisher Scientific Inc. (US), Xylem Inc. (US), Agilent Technologies Inc. (US), and Hitachi High-Technologies Corporation (Japan).
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