The global process analyzer market size is set to be USD 10,099.8 million by 2030, witnessing 3.7% CAGR between 2024 and 2030. This can be attributed to increasing water demand, growing network of wastewater treatment plants, rising focus on public health, and booming oil & gas industry.
The growing size of industries is one of the biggest drivers for the market as these products find wide applications across different sectors. For instance, oxygen analyzers are widely used in the pharmaceutical industry to measure the concentration of oxygen in gas streams during inert gas packaging and many other processes. Similarly, moisture analyzers measure the moisture content in gas streams, to check the level of dryness during various processes.
In addition, devices that measure the concentration of carbon dioxide, toxic gases, and hydrogen sulfide are used in industries for safety assurance and regulatory compliance. Several gases released during various production processes pose a threat to personnel or the environment. These gases include hydrogen cyanide, ammonia, and carbon monoxide, and the industries where their threat is the most imminent are petrochemical, wastewater, and semiconductor fabrication.
Based on end use, the water & wastewater treatment category holds a significant share in the market. Due to the increase in the level of urbanization and industrialization, the volume of wastewater is rising, along with the number of people living amidst drinking water shortage. This gives rise to the demand for wastewater treatment plants, where various types of process analyzers are used to monitor the chemicals present in the water. As manual inspection can lead to errors, sensors are being increasingly adopted to obtain precise readings.
Further, the pharmaceutical category is expected to witness rapid growth in market revenue generation over the forecast period. In the pharmaceutical industry, gas, moisture, particle size, and X-ray analyzers play an important role in monitoring various drug manufacturing steps and providing real-time readings of pressure, pH, temperature, and chemical composition. This is why they are extensively used in pharmaceutical R&D to study drug kinetics, optimize new drug formulations, and assess the stability of drug components.
The food & beverage industry also accounts for a high value in the industry segment. Process analyzers play a major role in ensuring product quality, consistency, and safety during the production process. They monitor the quality of intermediate products, raw materials, and finished products, by monitoring moisture, temperature, pH, flavor, color, and texture. As a result, the optimization of the mixing, fermentation, packaging, and pasteurization processes is also possible with these devices. The food & beverage industry is subject to rather strict regulations regarding product safety and quality, which is the key factor propelling the usage of these devices here.
Asia-Pacific will continue to dominate the market till 2030, driven by the substantial growth in the petrochemical, chemical, mining & metal, and pharmaceutical industries. This is because an increasing number of overseas companies are relocating their plants to APAC to take advantage of cost-effective and abundant labor and raw material. As industrial activities expand, the demand for process analyzers to monitor and control various processes also increases. The demand for them from India and China is primarily increasing due to the rapid advancements in production and quality control methods.
Some of the major process analyzer market players are ABB Ltd., AMETEK.Inc., Applied Analytics Inc., Endress+Hauser Group Services AG, Emerson Electric Co., METTLER TOLEDO, Siemens AG, Thermo Fisher Scientific Inc., and Yokogawa Electric Corporation.