Tunable Diode Laser Analyzer Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021
Albany, NY -- (SBWIRE) -- 08/11/2015 -- Growing concern about the hazards of toxic gases in gas fields, oil fields, and mines drives the global market for tunable diode laser analyzers. The demand for tunable diode laser analyzers is on the rise across several industries all over the world. Expanding at a 10.2% CAGR between 2015 and 2021, the global tunable diode laser analyzer market is anticipated to reach a market value of US$548.8 million in 2021, up from US$280 million in 2014. The demand for tunable diode laser analyzers in industries mainly arises from the need for emission control.
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Tunable diode laser analyzers measure and identify the quantity of water, carbon dioxide, and methane in several gas mixtures. Tunable diode laser analyzers are mainly applied in the areas of hydrocarbon processing and power generation. A prominent characteristic feature of a tunable diode laser analyzer is its ability to detect gas and even measure the same at extremely low concentrations. In fact, it has the capacity to give the exact measurement of gases even if found in trace amounts.
Technological Improvements Keep the Market on the Rise
Type, application, and geography are the three parameters based on which the global tunable diode laser analyzer market is segmented. In-situ is the type used extensively in most areas of application. The various industries that make use of tunable diode laser analyzers are cement, fertilizer, oil and gas, power, pulp and paper, mining and metal, healthcare, and others. The oil and gas segment leads the global market for tunable diode laser analyzers and will retain its leading position in the forecasting horizon as well.
Over the years, the demand for gas detectors has increased owing to the greater proliferation of industries on the one hand and the consequent increase in pollution levels on the other. The global tunable diode laser analyzer market is characterized by continuous improvements in the products owing to dynamic adoption of newer and better technologies.
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High R&D Costs: A Market Challenge
Geographically, the global tunable diode laser analyzer market is categorized into Asia Pacific, North America, Europe, and Rest of the World. In 2014, Asia Pacific dominated the global market for tunable diode laser analyzers and continues to do so owing to high demand for measuring the critical levels of gases in chemical plants, oil fields, gas fields, and mines. It is expected that the demand for in-situ measurement will expand significantly during the forecast period. The growth of the in-situ measurement segment can be attributed to the issues and the frequency of measurement faults in the extraction of gas samples and also its conditioning.
Tunable diode laser analyzers are incorporated in downstream, midstream, and upstream activities that take place in oil fields. The surging demand for detecting complex hydrocarbons and low gas concentrations in these activities is what fuels the overall demand for tunable diode laser analyzers. On the other hand, lack of widespread awareness and high R&D costs restrict the growth of the global tunable diode laser analyzer market.
Prominent companies operating in the global tunable diode laser analyzer market are Servomex, ABB Ltd., Sick AG, Mettler Toledo, Honeywell International Inc., Neo monitors, Siemens AG, and General Electrics Corp.
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