The global Tunable Diode Laser Analyzer (TDLA) market is rising at a significant pace, projected to rise at a CAGR of 8.67% during the estimated period from 2020 to 2027, starting from USD 370.15 million in 2020. Increasing production and demand of oil and gas in emerging economies, wide use of denox systems, announcements of new petrochemical projects, increasing demand for energy recovery, growing R&D investments, stringent government policies, revival of economies and various other factors are expected to significantly drive the growth of the market during the forecast period.
In-Situ Segment Dominated the Global Market In 2020
In-situ analyzers are easy to install owing to its compact design. Real time gas analysis and process metrics measurements are carried out simultaneously in these types of analyzers. They are highly reliable and accurate and is the widely used type of analyzer across various end use industries.
COx Analyzers Segment Dominated the Market, By Gas Analyzer In 2020
Based on gas analyzer, COx analyzers dominated the market and is expected to grow at a CAGR of 8.30% during the forecast period owing to extremely toxic nature of CO2 and increasing need of CO2 measurement to maintain energy balance, to determine the end-point of complete reactions, and to maintain product hardness and quality.
Oil & Gas Industry Dominated the Global Market In 2020
Based on industry oil & gas sector accounted for the largest share of 27.50%. Based on value, the global tunable diode laser analyzer (TDLA) market for oil & gas industry is expected to reach USD 190.32 million by 2027. A large number of applications involving monitoring mixtures of hydrocarbons, or hydrocarbons and other gases is the major factor responsible for the sector’s growth.
Asia Pacific Dominated the Global Market In 2020
Asia Pacific led the market and is expected to reach USD 234.50 million by 2027. High growth of the metals and mining, oil & gas and chemical & pharmaceutical sectors are factors driving the regional growth. It is also expected to be the fastest growing regional market growing at a CAGR of 9.74% from 2020 to 2027.
The key competitors of this market include ABB Ltd. (Switzerland), Ametek.Inc (United States), Emerson Electric Co. (United States), Teledyne Technologies Incorporated. (United States), Mettler Toledo (United States), Servomex (United Kingdom), FPI Group (China), ENVEA (France), Airoptic (Poland), Fuji Electric (Japan), Horiba Ltd. (Japan), Sick AG (Germany), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), General Electric (United States), Applied Analytics Inc. (United States), Endress+Hauser Group Services Ag (Switzerland) among others.
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