The global tunable diode laser analyzer market size is expected to reach USD 831.7 million by 2024, according to a new report by Grand View Research, Inc. The bullish growth prospects of the tunable diode laser analyzer market can be attributed to the rapid industrialization and an increasing need for real-time and efficient atmospheric toxic gas measurement and analysis.
Favorable initiatives and regulations by the government and regulatory bodies worldwide regarding industrial emissions across various industry sectors are anticipated to bolster the market growth over the forecast period. Advanced TDL based analyzers have the ability to detect and measure toxic gases such as oxides of carbon, nitrogen, and sulfur along with oxygen and water in very low air density environments accurately. The adoption of TDLAs involves low maintenance cost, seamless detection abilities, and stability, making them preferable over other gas detectors across the end-use industries.
However, the high costs of R&D and interoperability issues are expected to hinder the industry growth over the forecast period. The accessibility to cheaper substitute devices and methods may affect the industry growth in the coming years.
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Further key findings from the report suggest:
• The TDLA industry, on the basis of measurement-type, can be segmented into in-situ and others such as extractive-based measurements. The in-situ or on-site type TDLA segment accounted for nearly 65% of the global market share in 2015, owing to the ease of customization, lower cost of ownership, and the control it offers.
• Oil & gas industrial applications contributed to approximately 25% of the overall TDLA market revenue in 2015 and are anticipated to witness a steady growth over the coming years. Such growth can be accredited to the growing demand for the detection of complex hydrocarbon gases and water across upstream, downstream, and midstream process flows across refineries and petrochemical industries.
• The demand for TDLAs in the mining & metal industry was estimated to reach over USD 130 million by 2024, growing at a CAGR of nearly 8% over the next six years. The increasing regulations and safety norms regarding harmful emissions near mining sites are expected to drive the demand for such equipment.
• In 2015, The Asia Pacific tunable diode laser analyzer market accounted for over 25% of the overall market share and is expected to witness a substantial growth over the next eight years. The developing economies of the region, such as India, China, and Japan, are anticipated to offer broad growth avenues for the regional industry growth, owing to the increasing industrialization and modernization of processes in industries including power generation and oil & gas, eventually leading to a surge in the adoption of TDLAs.
• Technological and product innovations drive such a highly dynamic industry. Prominent market players include Siemens AG, ABB Ltd., Yokogawa Electric Corporation, and Endress+Hauser. Vendors are focusing on expanding their presence through inorganic growth strategies such as mergers and acquisition for portfolio enhancement and regional expansion. Moreover, manufacturers are increasingly offering after-sales support and services for their TDLA equipment through its entire lifecycle, from installation to calibration and preventive maintenance repair of the equipment.
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Grand View Research has segmented the global tunable diode laser analyzer market on the basis of measurement-type, industrial application, and region:
Tunable Diode Laser Analyzer Measurement-Type Outlook (Revenue, USD Million, 2014 - 2024)
• In-situ
• Others
Tunable Diode Laser Analyzer Industrial Application Outlook (Revenue, USD Million, 2014 - 2024)
• Power
• Oil & Gas
• Mining & Metal
• Healthcare
• Chemicals
• Fertilizers
• Paper & Pulp
• Cement
• Others
Tunable Diode Laser Analyzer Regional Outlook (Revenue, USD Million, 2014 - 2024)
• North America
• Europe
• Asia Pacific
• RoW
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.