United States, Rockville MD, Aug. 02, 2022 (GLOBE NEWSWIRE) -- As per an in-depth industry analysis by Fact.MR, a market research and competitive intelligence provider, global sales of electrochemical instruments are expected to reach US$ 3 billion by 2026, increasing at a CAGR of 4% over the forecast period (2022-2026).
Demand for the measurement of various parameters is significant in industrial sectors such as biological agriculture, disease control, environmental protection, and scientific research, which supports the growth of the electrochemical instruments market.
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Body care, cleaning of objects, and food processing facilities are additional water consumption applications that call for proper water treatment and usage quality inspections. These factors are anticipated to increase the demand for electrochemical devices that are used to examine and monitor the quality of various water components such as pH, turbidity, UV transmission, and chlorine & chlorine dioxide levels.
Governments in emerging markets are carrying out several initiatives related to air pollution and water cleanliness, which could lead to lucrative market opportunities. The market for electrochemical instruments will be driven by strict environmental regulations that are compelling businesses to constantly monitor their environment, including the air, soil, and water.
Why is North America a Lucrative Market for Manufacturers of Electrochemical Instruments?
“Rising Advancements in Battery Technology for Energy & Power Industry Driving Market Growth in North America”
The market for electrochemical instruments is expanding at the quickest rate in North America. The market growth is being driven by growing concerns over the availability of clean drinking water and the need to reduce the pollution of the soil, water, and air caused by the improper disposal of hazardous industrial waste.
Demand for electrochemical instruments in the region is anticipated to increase due to rapid industrialization and economic expansion.
Market expansion is being driven by the quick advancements in battery technology for the energy and power industry. It is anticipated that the presence of established businesses would have a significant impact on market growth.
Moreover, ongoing environmental testing and monitoring are projected to support the strong demand for electrochemical equipment.
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Key Segments Covered in the Electrochemical Instruments Industry Survey
- By Product :
- Electrochemical Meters
- Titrators
- Ion Chromatographs
- Others
- Electrochemical Meters
- By Technology :
- Potentiometry
- Voltammetry
- Coulometry
- Others
- Potentiometry
- By End Use :
- Environmental Testing
- Biotechnology & Pharmaceutical Companies
- Food & Agriculture Industries
- Others
- Environmental Testing
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America
Competitive Landscape
The creation of cutting-edge items and a powerful distribution network are essential components in promoting competitiveness among market participants. Manufacturers are concentrating on innovation and maintaining high standards for product quality to attract more clients and achieve a competitive edge.
To develop innovative products and increase their geographic reach, they are also forming partnerships and collaborations with other related businesses.
For instance,
- In 2020, for the pharmaceutical and medical device industries, Yokogawa Electric Corporation unveiled OpreX, a new environmental monitoring system. In the production, processing, and storage facilities for pharmaceutical and medical devices, this new product contains a data gathering and recording system that gathers and manages environmental data.
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Key players in the Electrochemical Instruments Market
- Horiba Ltd.
- Metrohm AG
- Danaher Corporation
- Xylem, Inc.
- Thermo Fisher Scientific, Inc.
- Dkk-Toa Corporation
- Endress+Hauser AG
- Hanna Instruments, Inc.
- Mettler-Toledo International, Inc.
- Yokogawa Electric Corporation
Key Takeaways from Electrochemical Instruments Market Study
- Global electrochemical instruments market to reach valuation of US$ 3 billion by 2026.
- Market in Canada expected to rise at CAGR of 3% from 2022 to 2026.
- Market in Europe set to expand at CAGR of 2% over forecast period.
- Demand for titrators projected to rise at CAGR of 3.7% from 2022 to 2026.
About the Technology Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned technology team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the technology industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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