Market - - May 22,2017
The growing utilization of different types of instruments considering both software and hardware in the production of process analyzer is anticipated to cause a positive impact on its market.
Presently, due to technological improvement and growing application of process analyzer in the oil and gas, chemical as well as power generation, there has been encouraging influence on the market for process analyzer on the global level. Moreover, increasing usage of volatile organic components for various food products is offering a positive influence on the process analyzer market.
As per a precise market report published by Market Research Hub (MRH), it has been predicted that between 2016 and 2024, the market for process analyzer will exhibit a CAGR of 9.1%. Interestingly, at this pace the market would achieve a mark of US$11.501 billion by the end of 2024.
The effective usage of process analyzers for continuous monitoring of parameters such as gas and liquid content during the manufacturing process has led to its noticeable demand in biotechnology, pharmaceutical and mining. Moreover, this engineering precision equipment also works to analyze and recognize the physical, chemical, molecular, and elemental properties of a particular sample.
Currently, considering the geographical popularity, the process analyzer market is active in North America, Asia Pacific, Latin America, Europe, Middle East and Africa. The growth of pharmaceutical sector across the globe, mainly in developing countries such as India and China is one of the most crucial factors projected to trigger the demand for various categories of process analyzer in the next few years.
The prime operating players from the process analyzer sector are ABB Ltd. (Switzerland), Modcon Systems Ltd. (The U.K), Siemens AG (Germany), Applied Analytics, Inc.(The U.S), Applied Instrument Technologies, Inc.( The U.S), SICK AG ( Germany), Emerson Electric Co.(The U.S), AMETEK, Inc. (The U.S) and Yokogawa Electric Corporation (Japan).
For more information on this report visit - http://www.marketresearchhub.com/report/process-analyzer-market-global-industry-analysis-size-share-growth-trends-and-forecast-2016-2024-report.html