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.
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.
By measurement type, the global tunable diode laser analyzer (TDLA) market is segmented into in situ and others. In 2017, the global TDLA market was dominated by the in situ segment, which held a substantial market share of 67.4%. The adoption of in situ measurement is on the rise due to the problems and degree measurement faults related with gas sample extraction and conditioning.
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By geography, the global tunable diode laser analyzer (TDLA) market is divided into North America, Asia Pacific, Europe, and Rest of the World. In 2017, Asia Pacific boasted a dominant market share of 37.0% and is expected to retain its dominance throughout the forecast period.
Companies mentioned in the research report
A majority of the companies operating in the global tunable diode laser analyzer (TDLA) market are based in Western markets of North America and Europe. The top companies operating in the global TDLA market include ABB Ltd. (Switzerland), Siemens AG (Germany), Honeywell International Inc. (U.S), Neo monitors (Norway), Yokogawa (Japan), Servomex (United Kingdom), Sick AG (Germany), Mettler Toledo (Switzerland), General Electric’s Corp. (U.S.), and Emerson Electric Co. (U.S.).