Process Analytical Equipment Market Outlook 2024

Market Overview

The global process analytical equipment market is projected to reach USD 4,261.3 million by 2029, reflecting a compound annual growth rate (CAGR) of 4.7% from 2024 to 2029. The expansion of the Process Analytical Equipment market is heavily dependent on several crucial factors, including smart instrumentation, predictive maintenance, innovative products, adequate infrastructure, and a technologically adept workforce. To maintain a competitive edge and broaden their customer base, vendors must adeptly attend to these factors.

The global process analytical equipment market is segmented by product type, including liquid analyzers, molecular spectroscopy, gas analyzers, and gas chromatography. In 2023, the liquid analyzers segment emerged as the dominant category, capturing a significant market share of 33.2%. The market value of the liquid analyzers segment in 2023 was USD 1,088.4 million, and it is anticipated to reach USD 1,267.0 million by 2029. The growth of the liquid analyzers segment in the process analytical equipment market is being propelled by the escalating demand for purified water. As the necessity for clean and safe water continues to increase, the significance of liquid analyzers in ensuring water quality and purity across various industries and applications becomes increasingly apparent. However, the molecular spectroscopy segment is expected to demonstrate the highest CAGR of 7.1% during the forecast period from 2024 to 2029.

The process analytical equipment market can be segmented by end user into petrochemical, oil & gas, pharmaceutical, water treatment, mining, and others. The petrochemical segment is anticipated to reach USD 1,308.0 million by 2029, reflecting a CAGR of 4.2% over the forecast period from 2024 to 2029. Safety holds paramount importance in the petrochemical industry. Gas analyzers play a critical role in safeguarding personnel by continuously monitoring and analyzing the composition of gases in the environment. By detecting and signaling the presence of hazardous gases, these analyzers contribute to accident prevention and the maintenance of a secure working environment.

Geographically, North America has established itself as the leading player in the process analytical equipment market in 2023, with Asia-Pacific and Europe closely following. The North America process analytical equipment market is shaped by diverse factors and trends that bolster its growth and dominance in specific segments. The resurgence of manufacturing in the United States has heightened the demand for liquid analyzers in the region. This resurgence is anticipated to propel the sales of various liquid analysis instruments in North America.

In 2023, ABB Ltd., Siemens AG, Yokogawa Electric Corporation, Emerson Electric Co., and Thermo Fisher Scientific Inc. emerged as the leading 5 competitors, collectively holding a 45% share of the global process analytical equipment market. Other notable players in the global process analytical equipment market include AMETEK, Inc., Bruker Corporation, Cambridge Sensotec Limited, Danaher Corporation, Endress+Hauser AG, Focused Photonics Inc., Galvanic Applied Sciences Inc., Honeywell International Inc., Horiba, Ltd., Metrohm AG, Mettler-Toledo International Inc., MKS Instruments, Inc., NEO Monitors AS, Process Insights, Inc., Process Instruments, Inc., Sick AG, Spectris plc, SPX Flow, Inc., Sysco Analytics Asia Pte. Ltd., Teledyne Technologies Incorporated, Watts Water Technologies, Inc., Xylem Inc., Schneider Electric SE, and others.

This study aims to analyze the global market for various segments of process analytical equipment, including:
Product Type: Liquid Analyzers (pH & ORP Analyzer, Conductivity Analyzer, Turbidity Analyzer, and Others), Molecular Spectroscopy (Infrared Spectrometer, Tunable Diode Laser Spectrometers, Raman Spectrometer, Mass Spectrometer, and Ultraviolet Spectrometer), Gas Analyzers (Zirconia Oxygen Analyzer, Non-Dispersive Infrared (NDIR) Gas Analyzer, Electrochemical Gas Analyzer, Paramagnetic Oxygen Analyzer, Flame Ionization Detector, Thermal Conductivity Analyzer, Chemiluminescence Analyzer, and Others), and Gas Chromatography.
End-User: Petrochemical, Oil & Gas, Pharmaceutical, Water Treatment, Mining, and Others.
Region: North America (USA, Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia Pacific), Latin America (Brazil and Rest of Latin America), Middle East, and Africa.

Table of Contents

TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 4
Part 1. Key Findings 7
Part 2. Scope and Methodology 8
Report Scope 9
Product Type 9
End-User 9
Region 10
Research Methodology 12
Part 3. Process Analytical Equipment Market Overview 14
Summary 14
Part 4. Market Dynamics 16
Growth Drivers and Future Trends 16
Restraints and Challenges 25
Opportunities 27
Part 5. Global Process Analytical Equipment Market by Product Type 35
Part 6. Global Liquid Analyzers Market by Product Type 39
Part 7. Global Molecular Spectroscopy Market by Product Type 42
Part 8. Global Gas Analyzers Market by Product Type 46
Part 9. Global Process Analytical Equipment Market by End-User 50
Liquid Analyzers 50
Molecular Spectroscopy 51
Gas Analyzers 53
Gas Chromatography 54
Part 10. Global Process Analytical Equipment Market by Region 56
North America 59
Europe 62
Asia-Pacific 65
Latin America 68
Middle East and Africa 70
Part 11. Competitive Analysis 72
Competition Overview 72
Recent Developments 75
ABB, Ltd. 77
Business Overview 77
Contact Information 80
Siemens AG 81
Business Overview 81
Contact Information 83
Yokogawa Electric Corporation 84
Business Overview 84
Contact Information 86
Emerson Electric Co. 87
Business Overview 87
Contact Information 90
Thermo Fisher Scientific Inc. 91
Business Overview 91
Contact Information 95
Danaher Corporation 96
Business Overview 96
Contact Information 98
Xylem, Inc. 99
Business Overview 99
Contact Information 103
Endress+Hauser AG 104
Business Overview 104
Contact Information 104
Mettler-Toledo International Inc. 105
Business Overview 105
Contact Information 107
Bruker Corporation 108
Business Overview 108
Contact Information 111
Spectris plc 112
Business Overview 112
Contact Information 114
Horiba, Ltd. 115
Business Overview 115
Contact Information 118
Teledyne Technologies Incorporated 119
Business Overview 119
Contact Information 121
AMETEK, Inc. 122
Business Overview 122
Contact Information 124
Other Key Competitors 125
Disclaimer 126
FIGURES AND TABLES
Global Process Analytical Equipment Market, Net Growth, 2020-2029 (USD Million)
Global Process Analytical Equipment Market by Product Type, 2020-2029 (USD Million)
Global Process Analytical Equipment Market by Product Type, CAGR Historic and Forecast, 2020-2029
Global Liquid Analyzers Market by Product Type, 2020-2029 (USD Million)
Global Liquid Analyzers Market by Product Type, CAGR Historic and Forecast, 2020-2029
Liquid Analyzers Market Key Competitors
Global Molecular Spectroscopy Market by Product Type, 2020-2029 (USD Million)
Global Molecular Spectroscopy Market by Product Type, CAGR Historic and Forecast, 2020-2029
Molecular Spectroscopy Market Key Competitors
Global Gas Analyzers Market by Product Type, 2020-2029 (USD Million)
Global Gas Analyzers Market by Product Type, CAGR Historic and Forecast, 2020-2029
Gas Analyzers Market Key Competitors
Global Process Analytical Equipment Market by End-User, 2020-2029 (USD Million)
Global Process Analytical Equipment Market by End-User, CAGR Historic and Forecast, 2020-2029
Global Process Analytical Equipment Market Share by Region, 2023
Global Process Analytical Equipment Market by Region, 2020-2029 (USD Million)
Global Process Analytical Equipment Market by Region, CAGR Historic and Forecast, 2020-2029
North America Process Analytical Equipment Market, Net Growth, 2020-2029 (USD Million)
North America Process Analytical Equipment Market Share by Country, 2023
Europe Process Analytical Equipment Market, Net Growth, 2020-2029 (USD Million)
Europe Process Analytical Equipment Market Share by Country, 2023
Asia-Pacific Process Analytical Equipment Market, Net Growth, 2020-2029 (USD Million)
Asia-Pacific Process Analytical Equipment Market Share by Country, 2023
Latin America Process Analytical Equipment Market, Net Growth, 2020-2029 (USD Million)
Latin America Process Analytical Equipment Market Share by Country, 2023
Middle East and Africa Process Analytical Equipment Market, Net Growth, 2020-2029 (USD Million)
Middle East and Africa Process Analytical Equipment Market Share by Country, 2023
Global Process Analytical Equipment Market Share (%), by Key Competitors
Process Analytical Equipment Market Key Competitors
ABB, Ltd. Financial Overview (USD Million)
ABB, Ltd. Revenue, by Type, 2022
ABB, Ltd. Revenue, by Segment, 2022
ABB, Ltd. Revenue, by Product, 2022
ABB, Ltd. Revenue, by Region, 2022
Siemens AG Financial Overview (EUR Million)
Siemens AG Revenue, by Segment, 2022
Siemens AG Revenue, by Region, 2022
Yokogawa Electric Corporation Financial Overview (JPY Million)
Yokogawa Electric Corporation Revenue, by Segment, 2023
Yokogawa Electric Corporation Revenue, by Region, 2023
Emerson Electric Co. Financial Overview (USD Million)
Emerson Electric Co. Revenue, by Segment, 2023
Emerson Electric Co. Intelligent Devices Revenue, by Segment, 2023
Emerson Electric Co. Software and Control Revenue, by Segment, 2023
Thermo Fisher Scientific Inc. Financial Overview (USD Million)
Thermo Fisher Scientific Inc. Revenue, by Segment, 2022
Thermo Fisher Scientific Inc. Product Revenue, by Segment, 2022
Thermo Fisher Scientific Inc. Revenue, by Tpye, 2022
Thermo Fisher Scientific Inc. Revenue, by Region, 2022
Thermo Fisher Scientific Inc. Revenue, by Country, 2022
Danaher Corporation Financial Overview (USD Million)
Danaher Corporation Revenue, by Segment, 2022
Danaher Corporation Revenue, by Region, 2022
Xylem, Inc. Pumps, Accessories, Parts and Service Revenue (USD Million)
Xylem, Inc. Financial Overview (USD Million)
Xylem, Inc. Revenue, by Segment, 2022
Xylem, Inc. Revenue, by Type, 2022
Xylem, Inc. Revenue, by Region, 2022
Mettler-Toledo International Inc. Financial Overview (USD Million)
Mettler-Toledo International Inc. Revenue, by Segment, 2022
Mettler-Toledo International Inc. Revenue, by Industry, 2022
Mettler-Toledo International Inc. Revenue, by Region, 2022
Bruker Corporation Financial Overview (USD Million)
Bruker Corporation Revenue, by Type, 2022
Bruker Corporation Revenue, by Segment, 2022
Bruker Corporation Revenue, by Region, 2022
Spectris plc Financial Overview (GBP Million)
Spectris plc Revenue, by Segment, 2022
Spectris plc Revenue, by Country, 2022
Horiba, Ltd. Financial Overview (JPY Million)
Horiba, Ltd. Revenue, by Segment, 2022
Horiba, Ltd. Revenue, by Region, 2022
Teledyne Technologies Incorporated Financial Overview (USD Million)
Teledyne Technologies Incorporated Revenue, by Segment, 2022
AMETEK, Inc. Financial Overview (USD Million)
AMETEK, Inc. Revenue, by Segment, 2022
AMETEK, Inc. Revenue, by Region, 2022