The report "Ultraviolet Analyzer Market by Treatment Type (Liquid, Gas), Device Type (Online, Field), Industry (Oil & Gas, Chemicals & Pharmaceuticals, Environmental, Food & Beverages), Application, and Geography - Global Forecast to 2024", is expected to grow from USD 1.0 billion by 2019 to USD 1.4 billion by 2024 at a CAGR of 6.4% from 2019 to 2024. A few key factors driving the growth of this market include the rise in demand for environmental protection, which is expected to upsurge the demand for ultraviolet analyzers for emission monitoring, and stringent environmental standards and regulations.
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“APAC to account for the largest share of ultraviolet analyzer market during the forecast period”
APAC is expected to hold the largest share of the ultraviolet analyzer market during the forecast period. The stringent air pollution control has driven the market in APAC. Further, the growth is attributed to increasing industrialization and urbanization in the APAC region. Moreover, the growth in power generation companies in countries such as China and India is a major factor responsible for the increasing adoption of ultraviolet analyzers.
Key Market Players
ABB Ltd. (Switzerland), AMETEK, Inc. (US), Emerson Electric Co. (US), Halma plc (UK), Horiba, Ltd (Japan), Teledyne Analytical Instruments Inc. (US), Thermo Fisher Scientific Inc. (US), Xylem Inc. (US), Agilent Technologies Inc. (US), and Hitachi High-Technologies Corporation (Japan) are among a few major players in ultraviolet analyzer market.
Teledyne (US) has a strong presence in the instrumentation market globally and has a strong hold on the US market. It compromises an extensive distribution channel across all major regions. The company markets its products through its board network of sales offices worldwide as well as through its online store in the US. The company focuses on expanding its operations and reaching out to other markets through either acquisitions or strategic partnerships. The company increases its business opportunities with expansion programs through acquisitions. For instance, the company recently acquired Hanson Research (US) to accelerate its development of new products and services.
Thermo Fisher Scientific (US) offers ultraviolet analyzers under its brand Thermo Scientific. These analyzers are used for a wide range of applications, including food and beverage analysis, environmental testing, and industrial quality control. Moreover, the company’s ultraviolet analyzers are designed to measure various combinations of SO2, NOx, CO, NH3, H2S, and other organic compounds for continuous emission monitoring.
Horiba (Japan) is a global group of companies that develops, manufactures, and sells an extensive range of instruments and analytical systems. The company's environmental and process system equipment segment offers water quality monitoring systems, water quality monitor for total nitrogen/phosphorus, monitoring devices, and stack gas analysis systems. The company offers ultraviolet analyzers and related products under the Process & Environmental segment. The company has a strong product portfolio and geographical presence in ultraviolet analyzer market. The company has achieved growth since its foundation and have specialized in measurement technologies. The company spent a significant percentage of revenue, i.e., 7.2% on research and development in 2018. The company offers more than 1,000 products in five of its business segments.
Ultraviolet analyzer market for gas treatment to grow at highest CAGR during the forecast period
The demand for gas treatment is expected to grow at the highest CAGR during the forecast period. Ultraviolet analyzers for gas treatment are used widely for emission monitoring, air quality monitoring, and process control applications. Growing concerns toward environment monitoring boost the adoption of ultraviolet analyzers for gas treatment by end-users, such as municipalities, oil & gas industry, chemicals, and pharmaceuticals, and energy & power industries.
Air quality monitoring application is expected to hold the largest share of ultraviolet analyzer market during the forecast period
The growing concern about air pollution is creating a need for accurate analytical technologies to prevent further pollution of the atmosphere. The increasing need for environmental protection and stringent regulations on sulfur content in light oil and gasoline boost the adoption of ultraviolet analyzers which offer an extremely high degree of sensitivity and precision. Thus, the growing use of ultraviolet analyzers for air quality monitoring application is enhancing the growth prospects of the market.
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