According to a report by Altus Market Research titled, “Tunable Diode Laser Analyzer Global Market 2022 Opportunities And Strategies To 2031 By Product Type: (Gas Analyzer into Oxygen (O2) Analyzer; Ammonia (NH3) Analyzer; Cox Analyzer, Moisture (H2O) Analyzer; HX Analyzer; Cxhx Analyzer; Other Gas Analyzer)”, the global tunable diode laser analyzer market reached a value of nearly $409.9 million in 2021, having increased at a compound annual growth rate (CAGR) of 4.7% since 2016. The market is expected to grow from $409.9 million in 2021 to $596.2 million in 2026 at a rate of 7.8%. The market is then expected to grow at a CAGR of 8.0% from 2026 and reach $876.9 million in 2031.
Growth in the historic period resulted from strong economic growth in emerging markets, increased demand for the measurement of toxic gasses in the industries, rising air environmental pollution, and stringent regulations on maintaining air quality. Factors that negatively affected growth in the historic period were the coronavirus pandemic. Going forward, surging demand for boilers and furnaces in manufacturing plants and increasing industrialization in developing nations will drive market growth. Factors that could hinder the growth of the tunable diode laser analyzer market in the future include high cost of gas analyzers and availability of low-price competitive technologies.
The global tunable diode laser analyzer market is concentrated, with a large number of players. The top ten competitors in the market made up to 89.60% of the total market in 2021. Major players in the market include The Emerson Electric Co., ABB Ltd, Teledyne Analytical Instruments, Yokogawa Electric Corporation, AMETEK Inc. and others.
Player-adopted strategies in the tunable diode laser analyzer industry includes strengthening its product portfolio by new product launch, strengthening position by strategic acquisition and technology advancements in products.
Request Research Sample with Latest Industry Insights (306+ Pages Report): https://altusmarketresearch.com/reports/sample/43200
Other Players Covered in the report
Emerson Electric Co., ABB Ltd, Teledyne Analytical Instruments, Yokogawa Electric Corporation, AMETEK Inc, Axetris AG, NEO Monitors, Unisearch Associates Inc, Focused Photonics, Mettler-Toledo International Inc, Nanjing Kelisaike Safety Equipment Co., Ltd, Hangzhou Zetian Technology Co., Ltd, Norsk Elektro Optikk (NEO) Monitors AS, Metrohm, Blue Ocean Nova, Endress+Hauserm, Servomex (Spectris), Siemens AG
The tunable diode laser analyzer market is segmented by gas analyzer into oxygen (O2) analyzer, ammonia (NH3) analyzer, COx analyzer, moisture (H2O) analyzer, HX analyzer, CxHx analyzer, and other gas analyzer. The oxygen (O2) analyzer was the largest segment of the tunable diode laser analyzer market by gas analyzer, accounting for $110.4 million or 26.9% of the total market in 2021. The oxygen (O2) analyzer market is expected to be the fastest-growing segment going forward at a CAGR of 8.5%.
The tunable diode laser analyzer market is segmented by measurement type into hair in-situ and extractive. The in-situ was the largest segment of the tunable diode laser analyzer market by measurement type, accounting for $263.4 million or 64.3% of the total market in 2021. The in-situ market is expected to be the fastest-growing segment going forward at a CAGR of 8.0%.
The tunable diode laser analyzer market is segmented by end use industry into oil and gas, metals and mining, fertilizers, cement, chemicals and pharmaceuticals, and other end use industry. The oil and gas market was the largest segment of the tunable diode laser analyzer market by end use industry, accounting for $106.5 million or 26.0% of the total market in 2021. The metals and mining market is expected to be the fastest-growing segment going forward at a CAGR of 7.8%.
Asia Pacific was the largest region in the tunable diode laser analyzer market, accounting for 34.9% of the global market in 2021. It was followed by North America, Western Europe and the other regions. Going forward, the fastest growing regions in the tunable diode laser analyzer market will be Asia Pacific and the Middle East, where growth will be at CAGRs of 9.0% and 8.7% respectively from 2021-2026.
The top growth potential in the tunable diode laser analyzer market by gas analyzer will arise in the oxygen (O2) analyzer market, which will gain $55.4 million of global annual sales by 2026. The top growth potential in the tunable diode laser analyzer market by measurement type will arise in the in-situ market, which will gain $123.2 million of global annual sales by 2026. The top growth potential in the tunable diode laser analyzer market by end use industry will arise in oil and gas market, which will gain $48.6million of global annual sales by 2026. The tunable diode laser analyzer market size will gain the most in the China at $44.6 million.
Market-trend-based strategies for the tunable diode laser analyzer market include focus on investments in technological advanced quantum cascade laser, consider investing in hybrid tunable diode laser gas, consider product innovations, focus on investments in strategic collaborations and consider product line expansions.
To take advantage of the opportunities, Altus Market Research recommends the tunable diode laser analyzers companies to invest in hybrid laser technology, focus on innovative analyzers, focus on emerging markets, expand in developed markets, focus on competitive pricing, leverage campaigns through product launches, leverage social media use to maximize reach and target manufacturing plants which use boilers and furnaces.
