The global tunable diode laser analyzer market is expected to generate a $435 million incremental opportunity by the end of 2022. Tunable diode laser analyzer sales are expected to exceed US$ 800 million by 2032, rising at a robust CAGR of 9% between 2022 and 2032. The increasing introduction of novel tunable diode laser analyzers with advanced features, as well as the emergence of return on investment policies on installation, are driving market growth.
For calculating the percentage of gases like carbon dioxide, methane, water vapors, flare gas, tail gas, and others, tunable diode laser analyzers are finding a variety of uses in the petrochemical, food and beverage, oil and gas, and energy and utility industries.
Corrosive and extremely dangerous gases are measured by a tunable diode laser analyzer. The tunable diode laser analyser uses accurate and highly responsive measuring signals for process control systems and hence helps in improving yields, safety and energy efficiency in various industrial processes.
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Tunable Diode Laser Analyser Market: Drivers & Restraints
The key market driver for tunable diode laser analyser is the growth in the industries such as oil & gas, cement, metal and power which demands for analysers, emission monitoring and incineration. Tunable diode laser analyser has high component selectivity, easy maintenance, low installation cost and fast response which makes it a preferred device in broad range of industrial processes.
Tunable diode laser analyser is one of the critical factor which provides crucial information about the chemical composition in the process industries. Tunable diode laser analyser has large opportunity in process industry as its applications are not restricted to monitoring only. It also contribute towards the preservation of environment and reduction of running cost. However the key challenge faced by tunable diode laser analyser is the rising infrastructure cost which may inhibit the market growth.
Tunable Diode Laser Analyser Market: Region-wise Outlook
Currently APAC has the largest market share for tunable diode laser analyser, followed by North America. It is expected that Europe will have the fastest growth rate as compared with other regions. As the demand of chemical industries is increasing, North America is also expected to have a significant market share in global tunable diode laser analyser market during the forecast period.
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Tunable Diode Laser Analyser Market: Key Players
Some of the market participants in the global tunable diode laser analyser market are Yokogawa, Servomex, Siemens AG, Honeywell, Sick AG, Emerson Process Management, ABB ltd, Neo Monitors, Mettler Toledo, Ametek Process Instruments.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, end user industry and applications.
Tunable Diode Laser Analyser Market: Segmentation
On the basis of end user industry, the global tunable diode laser analyser market is segmented into,
- Power/ utility
- Water and Wastewater Treatment
- Food and Beverages
- Pulp & Paper
On the basis of application, the global tunable diode laser analyser market is segmented into
- Coke-oven Gas
- Refinery Fuel Gas
- Natural gas
- Green House Gas
- Flare Gas
- Tail Gas
- Fertilizer Off Gas
- Emission Monitoring
- Carbon Black Producers
- FTC/GTC for Aluminium
- Fertilizer Urea
- Electric Arc Furnace