According to the latest market research study released by Technavio, the analytical instrument market in the US is expected to grow at a CAGR of close to 4% during the forecast period 2017-2021.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the analytical instrument market in the US based on product type:
Analytical instrument market in the US share by product type 2016
|
Process Control Instruments |
32.65% |
|
Laboratory Analytical Instruments |
25.50% |
|
Electrical Measurement Equipment |
19.69% |
|
Others |
22.16% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Process control instruments market in the US
The process control instruments market in the US was valued at more than $12 billion in 2016 and is expected to grow at a CAGR of almost 4% by 2020. The growing adoption of industrial automation in process manufacturing industries will primarily drive the growth in this market segment. Various manufacturing factories like chemical and petrochemical, water and wastewater treatment, and oil and gas rely on analytical instruments that automatically measure various parameters of any sample on a real-time basis. These instruments help in the improvement of the quality of the end-products and enhance the productivity of the manufacturing process. Some of the process control instruments include electromagnetic flow meters, boiler controls, combustion controls, and hydrometers.
“The increasing demand from the primary end-user industries such as packaging, food, and water and wastewater treatment will drive the demand for these instruments in the market. It is estimated that the growing domestic demand and exports of chemical products from the US, especially in the North American Free Trade Agreement (NAFTA) region, will boost the requirement for these analytical instruments over the period of next four years,” says Anju Ajaykumar, a lead analyst at Technavio for research on test and measurement.
Laboratory analytical instruments market in the US
The laboratory analytical instruments market in the US was valued at over $9 billion in 2016 and is expected to grow at a CAGR of around 3% by 2020. The extensive use of laboratory analytical instruments to monitor and control the composition of chemicals present in a sample in the various end-user industries will fuel the growth in this market segment. The primary end-user of this market segment includes pharmaceutical, food and beverage, and biotechnology industries. The use of laboratory analytical instruments in the biotechnology industry for various applications such as metabolomics, proteomics, and DNA sequencing, is aiding in the development of this market segment. In the food industry, these instruments are used for test contaminants and to ensure high quality that meets the safety standards issued by the regulatory bodies.
Electrical measurement equipment market in the US
The electrical measurement equipment market in the US was valued at about $7 billion in 2016 and is expected to grow at a CAGR of more than 4% by 2020. These instruments are used for measuring the amount of electricity used in various industries like pharmaceutical, biotechnology, plastic and cement, telecommunications, and food and beverage. The increase in the global air traffic is driving the growth of this market segment. These instruments help in maintaining and controlling of the physical and electronic security devices and ensures 100% efficiency levels to prevent equipment malfunction.
The top leading vendors operating in the analytical instrument market in the US are:
- ABB
- Agilent Technologies
- Siemens
- Thermo Fisher Scientific
Other prominent vendors in the market include AMETEK, Bio-Rad Laboratories, Danaher Corporation, Fortive, General Electric, Honeywell International, Mitsubishi Electric, and Yokogawa Electric.
A more detailed analysis is available in the Technavio report titled, ‘Analytical Instrument Market in the US 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Liquid Analytical Instrument Market 2016-2020
- Global Industrial Embedded Systems Market 2016-2020
- Global Industrial Embedded Systems Market 2016-2020
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