Key Highlights
The process analyzer market was valued at USD 7,912.3 million in 2023 and is projected to reach USD 10,099.8 million by 2030, growing at a compound annual growth rate (CAGR) of over 3.5%.
The growing demand for wastewater treatment is a major driver of this market's expansion. Industrial waste, which contains toxic chemicals, salts, and hazardous particles, has heightened the need for effective wastewater management.
The increasing scarcity of potable water, driven by pollution-induced climate change, is further fueling the demand for wastewater treatment solutions.
The decline in freshwater availability due to disrupted weather patterns and pollution is accelerating the need for advanced water conservation techniques, including rainwater harvesting and wastewater treatment.
The rise in water conservation awareness, coupled with the enhancement of water supply systems, is contributing to market growth.
Process analyzers are essential in wastewater treatment plants for monitoring the chemical composition of water.
To ensure safe drinking water worldwide, many companies are investing in water and wastewater treatment infrastructure.
The adoption of AI, smart technology, and automation in manufacturing is also significantly advancing the industry.
Market Insights
The mixed-liquid suspended-solid (MLSS) segment is expected to experience the highest CAGR throughout this decade. These analyzers are crucial for environmental monitoring and wastewater treatment.
In 2023, pH/ORP analyzers led the liquid analyzer market with a 25% share, primarily due to their increasing use in the oil and gas industry for measuring liquid alkalinity, acidity, and oxidation-reduction potential (ORP).
The total organic carbon (TOC) analyzers were significant contributors to the market, as they are widely used to monitor the quality of raw water and process water, helping prevent corrosion in critical systems.
Oxygen analyzers generated approximately USD 3 billion in revenue in 2023. The measurement of oxygen levels is crucial for determining the efficiency of fuel combustion.
The pharmaceuticals sector was the largest contributor to the market in 2023, holding a 30% share, driven by stringent regulatory requirements.
The metals and mining industry is anticipated to see robust growth this decade, as process analyzers play a vital role in monitoring production processes and ensuring operational efficiency, safety, and quality.
In 2023, the Asia-Pacific (APAC) region led the market with revenues exceeding USD 3.5 billion. This dominance is attributed to the expansion of manufacturing facilities, driven by the relocation of international companies seeking skilled labor and cost-effective operations.
North America is expected to grow at a CAGR of 3.8%, propelled by advancements in technology and the introduction of new models.
Europe also holds a significant market share due to the rising need for wastewater treatment, which is closely linked to increased urbanization.
Source: P&S Intelligence
