Global Tunable Diode Laser Market to Reach $773.93 Million by 2027 at a CAGR of 12.67%
DUBLIN, Nov. 11, 2022 /PRNewswire/ -- The "Tunable Diode Laser Analyzer Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The tunable diode laser analyzer market is expected to grow at a compound annual growth rate of 12.67% over the forecast period to reach a market size of US$773.938 million in 2027, from US$335.843 million in 2020.
A tunable diode laser analyzer is an instrument that is used for measuring and detecting the concentration of a specific component or molecule within a gas mixture using a process called laser absorption spectrometry. The laser analyzer produces infrared rays, which are passed through the gas, and by using a detector, the concentration of gas can be determined. The recent technological development in the tunable diode laser analyzer has made them cost-efficient over the years, which is expected to drive its market in the coming years.
Besides that, with increasing industrialization and the development of new power plants, the demand for DeNOx systems,gas turbines, natural gas fields, and boilers is expected to increase in the future and is expected to drive up the tunable diode laser analyzer market. The major types of analyzers are Oxygen Analyzer, Hx Analyzer, Ammonia Analyzer, Moisture Analyzer, COX Analyzer, and CxHx Analyzer, which are widely used in oil and gas industries, mining, semiconductors, cement, and fertilizer industries.
Increasing Industrialization and development:
The growing industrialization and development are positively related to the growth of the tunable diode laser analyzer market mainly. The increasing industrialization also increases the demand for boilers and furnaces, which are widely used in oil & gas industries, chemical industries, power plants, etc. Boilers release a huge amount of toxic gases and unburned emissions when burnt, and this brings in the need to use tunable diode laser analyzers. To keep a close monitor on the gases and their composition, industries use tunable diode laser analyzers that help in keeping a check on the pollution level as well. The tunable diode laser analyzers can detect gases like O2, NH3, CO, HCL, etc., at a very low density of air, and amid increasing environmental concerns and government regulationsregarding global warming are expected to boost the demand for these analyzers in the future.
Besides that, the low maintenance cost, rapid results, accurate measurements, and its in-situ (directly in contact with the subject) capability that makes it suitable to be applied in toxic environments are some of the other key highlights that are expected to give a boost to this market in the future.
Asia-Pacific to lead the market:
The Asia-Pacific market has witnessed significant growth in the tunable diode laser analyzer market in the past and is expected to continue the trend in the coming years due to growing industrialization and development in the region. Countries like China, India, and Japan are anticipating significant industrial development through foreign direct investment or through private market players, which are expected to boost the laser analyzer market in the future. For instance, in April 2021, Yokogawa Electric Corporation, a Japan-based tunable diode laser analyzer producer, announced that it had developed TDLS 8200 probe type, which can simultaneously measure oxygen, carbon monoxide, and methane gas at high speed.
Substitute gas analyzers:
The major restraint to the growth of this industry is the high availability of other gas analyzers in the market like CB Industrial Gas Analyzers, Non-Dispersive Infrared Industrial Gas Analyzers, EC Industrial Gas Analyzers, Residual Gas Analyzers, Methanometer, Gravimetry Gas Analyzers, etc. These analyzers are used in the oil and gas, chemical, and pharmaceutical industries, and an availability of a range of varieties is expected to give rise to price-based competition. This can serve as a major hurdle for the growth of the tunable diode laser analyzer market in the upcoming future.
By Industry Vertical
Key Topics Covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. TUNABLE DIODE LASER ANALYZER MARKET ANALYSIS, BY TYPE
6. TUNABLE DIODE LASER ANALYZER MARKET ANALYSIS, BY APPLICATION
7. TUNABLE DIODE LASER ANALYZER MARKET ANALYSIS, BY END-USERS
8. TUNABLE DIODE LASER ANALYZER MARKET ANALYSIS, BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
10. COMPANY PROFILES
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