Global Process Analyzer Market Analysis 2024 – Estimated Market Size And Key Drivers

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The Process Analyzer Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Process Analyzer Global Market Report 2024, The process analyzer market size has grown strongly in recent years. It will grow from $7.01 billion in 2023 to $7.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to demand for process optimization, increasing industrial automation, quality control in manufacturing, stringent regulatory standards, safety concerns in chemical processing..

The process analyzer market size is expected to see strong growth in the next few years. It will grow to $9.38 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to smart manufacturing, rise in laboratory automation, remote monitoring solutions, focus on green chemistry, development of miniaturized analyzers.. Major trends in the forecast period include advancements in sensor technologies, integration of iot and industry 4.0 technologies, focus on real-time analysis, multiparameter analyzers, cloud-based solutions, customization and modular solutions..

The increasing demand for wastewater treatment for various industries is propelling the process analyzer market. Wastewater treatment is a process that eliminates as many suspended materials as possible before releasing the leftover water (effluent) back into the environment. Process analyzers are used in the detection of any impurities during wastewater treatment. For instance, in March 2022, according to a report published by the World Health Organization, a Switzerland-based responsible international public health, 2 billion people worldwide consume contaminated drinking water, which can spread diseases and is projected to cause 485,000 diarrheal deaths yearly. Furthermore, the UN aims to provide universal coverage of essential drinking water services by 2030. Therefore, the increasing demand for wastewater treatment will drive the process analyzer market.

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The process analyzer market covered in this report is segmented –

1) By Analysis: Online Analysis, Inline Analysis, Atline Analysis

2) By Analyzing Material State: Liquid, Gas

3) By End-User: Oil and Gas, Chemical, Pharmaceutical, Mining, Food and Beverage, Power Generation

Technological advancement is a key trend in the process analyzer market. Major companies operating in the process analyzer market are focused on innovating new technologies to sustain their position in the market. For instance, in March 2023, Veolia Water Technologies & Solutions, a France-based water treatment company, introduced the Sievers TOC-R3. The Sievers TOC-R3 is an online monitoring solution that uses non-catalytic combustion technology to make profitable process decisions and avoid shutdowns, maintenance costs, product loss, and environmental discharge penalties. This system paired with low maintenance and is unique in its ability to directly measure Purgeable/Volatile Organic Carbon (POC/VOC). It offers simple method flexibility to meet each application need, automated dilution and rinsing capabilities to handle even harsh samples with minimal maintenance, complete combustion for confidence in data no matter how the sample matrix changes, and advanced data management and intuitive software for a straightforward user experience. This solution helps industries to streamline operations and maintenance to solve critical water challenges.

The process analyzer market report table of contents includes: