The global tunable diode laser analyzer market is growing at a healthy rate in the last few years. The rise in the investments in the research and development activities and growing focus on the development of advanced features of tunable diode laser analyzers are predicted to propel the global market in the next few years. The migration and modernization services are projected to support the growth of the overall market in the coming few years.
Thanks to these factors, the global market for tunable diode laser analyzer market is estimated to register a promising 10.30% CAGR between 2019 and 2027. In addition, the market is predicted to reach a value of US$992.0 Mn by the end of 2027.
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Rising Adoption of Automation to Propel Tunable Diode Laser Analyzer Market
The rise in the rate of industrialization and the growing demand for denox systems and boilers are the main factors that are predicted to enhance the growth of the global tunable diode laser analyzer market in the next few years. The development of new power plants and the increasing adoption of automation in diverse industries are further anticipated to accelerate the market growth in the near future. On the flip side, the availability of low-cost competitive technologies is expected to restrict the growth of the global tunable laser analyzer market in the next few years. Nonetheless, in the next few years, the average selling price of tunable diode laser analyzer is likely to reduce, which is projected to offer growth opportunities for the players in the coming few years.
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The market for tunable diode laser analyzer has been categorized on the basis of measurement type into in situ and others. The in situ segment is estimated to account for a large share of the global market in the coming few years. The rising measurement faults that are related to the gas sample conditioning and extraction is anticipated to demand for the in situ measurement, which is likely to accelerate the growth of the overall market in the near future.
Additionally, manufacturers of tunable diode laser analyzer are focusing on development of new solution for measurement of gases in industrial applications. For instance, in June 2018, Neo Monitors has developed a solution for measuring Hydrogen in-situ using traditional infrared tunable diode laser absorption spectroscopy for industrial applications.
Rising Research Activities to Drive Global Tunable Laser Analyzer Market
On the basis of geography, the global market for tunable diode laser analyzer has been classified into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. In the last few years, Asia Pacific led the global tunable diode laser analyzer market, holding a large share. This segment is predicted to maintain its topmost position in the coming years, thanks to the increasing adoption of tunable diode laser analyzer market in the coming few years. Furthermore, North America and Europe are estimated to observe a promising growth in the coming few years.
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The global market for tunable diode laser analyzer is fragmented in nature with a high level of competition among the leading players. The increasing research activities is projected to enhance the growth of the overall market in the next few years. A significant rise in the number of collaborations and mergers and acquisitions is predicted to accelerate market growth in the next few years. Some of the key players operating in the tunable diode laser analyzer market across the globe are
- Neo monitors (Norway)
- Emerson Electric Co. (U.S)
- Honeywell International Inc. (U.S)
- Servomex (United Kingdom)
- ABB Ltd. (Switzerland)
- General Electric’s Corp. (U.S)
- Sick AG (Germany)
- Yokogawa (Japan)
- Siemens AG (Germany)
- Mettler Toledo (Switzerland).
Effective Properties to Serve as Profitable Growth Generators for the Tunable Diode Laser Analyzer Market
Industrialization prospects have gained considerable momentum across various countries around the world. The rising influence of industrialization across a large number of countries coupled with the escalating need for improving energy-efficiency and safety standards across many industries will serve as a vital growth-generating factor for the tunable diode laser analyzer market during the forecast period of 2019-2027.
- Tunable diode laser analyzers are prominently used for measuring industrial emission composition. These analyzers are also used for toxic gas detection such as carbon and nitrogen oxides along with water and oxygen. The analyzers identify the content of water vapor, carbon dioxide, methane, and numerous gaseous mixtures. These functionalities prove to be growth boosters for the tunable diode laser analyzer market.
- The advantages attached to these devices help in increasing the growth rate. The heightening use of tunable diode laser analyzers across a considerable number of end-users such as mining, cement, pulp and paper, oil and gas, power, healthcare, chemical, fertilizers, and others will bring promising growth opportunities.
- Strategic collaboration between the players of the tunable diode laser analyzer market is helping them increase their influence, eventually adding extra stars of growth. The ongoing research and development activities will also prove to be beneficial for the manufacturers. These activities assist them in discovering novel insights, which further lead to upgrades.
- The pandemic has led to tremendous losses across a variety of sectors and businesses. The tunable diode laser analyzer market is no stranger to this loss. The growing prevalence of the virus forced many countries to go into lockdown for a prolonged period. In the starting months of the lockdown, all the factories and production plants were closed, eventually leading to a decline in production and demand.
- However, the staggered re-opening of various businesses and sectors on the back of the relaxations provided by the government bodies will prove to be a vital growth factor.
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