The global trace oxygen analyzer market is set to have an expected valuation of US$1.2 billion in 2023. During the projected period, the market is anticipated to develop at a CAGR of 5.4% and reach a market value of US$ 2.1 billion.
The market is expanding owing to an increase in the demand for oxygen trace analyzers in hospitals that measure and show the oxygen content in the inspiratory line of a patient’s breathing circuit.
The application of trace oxygen analyzers in manufacturing facilities and laboratories is widespread, and their popularity is expected to soar. This comprises the preparation of samples, laboratory analysis, and vacuum system monitoring.
The main drivers of the global market are the rising demand for oxygen trace analyzers in the chemicals and petrochemicals, electronics, food and beverage, and pharmaceuticals & gas processing industries.
Worldwide growth in the pharmaceutical and healthcare sectors has a direct bearing on the need for sophisticated trace oxygen analyzers. The global market is anticipated to develop over the next few years as a result of expanding applications for oxygen monitoring in various end-use industries, such as power generation and food transportation.
Due to ongoing research and technical development, testing equipment has advanced significantly in recent years. Modern trace oxygen analyzers are up to date with the most recent technology advancements, and give consumers detailed information that earlier iterations of trace oxygen analyzers were unable to supply.
Surging Electronic Production Impacts the Global Trace Oxygen Analyzer Market Outlook
- One of the main industries using trace oxygen analyzers is the semiconductor sector. As the necessity for accurate oxygen readings in the manufacturing process grows, the market for these analyzers is anticipated to expand rapidly.
- The global trace oxygen analyzer sector has benefited from the electronics industry’s continuing expansion. As the creation of semiconductors demands highly pure gasses and trace oxygen analyzers produce extremely accurate readings at the PPM level, it is highly preferred by electronics makers for a variety of applications in these industries.
- The rigorous regulatory environment that governs these industries, which necessitates the accurate and dependable measurement of oxygen levels to assure product quality and safety, is another factor contributing to the market expansion.
What Limits the Demand for Trace Oxygen Analyzers
Over the forecast period, the trace oxygen analyzer business is anticipated to expand at a brisk rate. Nonetheless, some limitations are anticipated to impede market expansion. The high cost of instrumentation and the shortage of skilled employees are a couple of the main obstacles. One of the main obstacles to the market is the high cost of equipment.
The pricey equipment needed for trace oxygen analysis must be handled carefully. Small and medium-sized businesses find it challenging to invest in these instruments as a result.
Regional Analysis
- To maintain market dominance through 2033, North America is on an unbeaten run. This is owing to its rapidly expanding pharmaceutical industry,
- East Asia is anticipated to have the second-leading position in the trace oxygen analyzer industry.
- North America & East Asia are estimated to together have 2/5th of the revenue share in the global trace oxygen analyzer sector.
- The United Kingdom predicts a CAGR of 5.9% by 2033, after adapting to market changes.
United States Trace Oxygen Analyzer Business to Attain Winning Position in the Market
In 2022, the trace oxygen analyzer in the United States market is expected to register 5.2% Y-o-Y growth by volume. The United States market is projected to witness a share of 16.6% in 2023, with the development of new and innovative products.
The growth registered in the country is backed by its developed economy and the presence of leading market participants. Driven by these, trace oxygen analyzer demand is predicted to expand in this region.
FMI projects that the United States market is likely to surpass revenues worth US$ 342.5 million by the end of 2033.
How Does Potential Investment Shape the Trace Oxygen Analyzer Market in Germany?
The trace oxygen analyzer market in Germany is expected to rise at nearly 4.6% CAGR over the forecast period. Increasing investment in the pharmaceutical sector by the governments & growing food & beverage industry in the region are boosting the market.
Besides this, Germany witnesses high demand from the power generation sector for the trace oxygen analyzer. The German market is expected to hold a share of 3.4% in 2023.
Why is the Demand for Trace Oxygen Analyzers Increasing in China?
From 2023 to 2033, the demand in China is estimated to develop at a CAGR of 7.1%. The sales of trace oxygen analyzers have increased in the country due to the rising number of local manufacturers innovating such products with competitive pricing. Besides this, the booming chemical and pharmaceutical industries are helping the market gain traction in China.
Advanced and Portable Systems Surge the Adoption of Trace Oxygen Analyzer in India
By 2033, the market in India anticipates a CAGR of 7.8%. Portable trace oxygen analyzers are the main product of suppliers like Ambetronics Engineers Pvt. Ltd, Mm Automation, and Bhoomi Analyzers. The advanced sensor technology used in the online process of oxygen analyzers is also present in these reliable portable instruments.
For instance: A portable oxygen (O2) gas analyzer called the Kane 510 by Nevco Engineers Pvt. Ltd. is intended for accurate, repeatable measurements of oxygen concentration. These are utilized in welding glasses, controlled environment rooms, fermentation chambers, and fruit storage spaces. A long-life oxygen sensor that can measure oxygen levels between 0% and 21% is included with the Kane 510.
Category-Wise Insights
Which Product Type is Sold Maximum in Trace Oxygen Analyzer Market?
The zirconia oxygen analyzer segment is projected to create an absolute dollar opportunity of more than US$ 403.8 million from 2023 to 2033. Due to its advantages over the other options, zirconia oxygen analyzers are highly durable and can withstand high temperatures, and are likely to have a share of 42.0% in 2023.
Besides this, it has low maintenance costs and a high life cycle, which makes it highly preferable among the end users. Zirconia oxygen analyzer provides accurate results in a lesser period, which is the key factor behind the excessive demand from end-use sectors.
Which Portability Type Analyzer is Registering High Sales?
A portable trace oxygen analyzer is projected to create an absolute dollar opportunity of more than US$ 625.9 million from 2023 to 2033. These analyzers are in high demand since they can provide on-site results at various end-use sectors.
Since product development is a key trend observed in the market, manufacturers are continuously working on enhancing the accuracy of portable analyzers. The portable segment is expected to expand with a 5.9% CAGR during the forecast period.
Which End Use Segment has High Potential in the Trace Oxygen Analyzer Sector?
A leading end user of oxygen, with a share of 25.3% in 2023, is the pharmaceutical and healthcare sector. In the upcoming years, a considerable increase in this industry’s demand for oxygen is predicted.
Due to its importance in the management of several medical diseases, oxygen use in the healthcare sector is anticipated to rise. Since oxygen levels in a process must be monitored for safety and quality control, the oxygen analyzer used in the healthcare sector is anticipated to increase.
How can Manufacturers Expand in the Market?
- With manufacturers investing in research activities to introduce more accurate portable oxygen gas analyzers to get the on-site result. This is crucial to ensure more accuracy, especially in the food & beverage and natural gas processing sectors.
- Ongoing product development by well-known manufacturers has enhanced market growth. The market is being driven by manufacturers’ development of goods tailored to certain end uses.
- Manufacturers spend money on research and development to create cutting-edge products that adapt to changing consumer demands. They can concentrate on making trace oxygen analyzers that are more precise, dependable, and efficient.
How Key Players and Start-Ups Contributing to the Market Growth
In recent years, there have been more and more acquisition and growth efforts to strengthen the trace oxygen analyzer supply chain. The creation of oxygen analyzers tailored to certain end uses is a focus for several key suppliers of trace oxygen analyzer components. In this area, various producers have also begun to appear.
To diversify their product offerings, reach new markets, and get access to cutting-edge technology and resources, manufacturers can consider mergers and acquisitions. They can increase their economies of scale and market competitiveness by doing this.
For instance:
- A new portable headspace gas analyzer called the New Dansensor CheckPoint 3EC was unveiled by AMETEK in 2020. It offers a quality control solution for particular culinary applications.
- Supplier of gas sensing technologies for the entire food value chain, C2Sense was launched in 2013. It enables users to evaluate the freshness of fish and other highly perishable food items across the value chain, as well as the ripeness of fruits and vegetables. It is creating ethylene and biogenic amine sensors for the same.
- Gas detection system provider Mirico was launched in 2015. It creates analytical devices with cutting-edge constructions that make use of lasers that emit light in the middle infrared region of the spectrum.
- A highly innovative stable isotope analyzer is what it produces. As a result, the development and design offer a small footprint, sturdy construction, and remarkable performance.
- The development and design were initially intended for space exploration, specifically for planetary landers.
Key Players
Emerson Electric Co, Yokogawa Electric Corporation, AMETEK, Inc, Teledyne Technologies Incorporated, Horiba, Ltd, Michell Instruments, Nova Analytical Systems, Advanced Micro Instruments Inc, Alpha Omega Instruments Corp, Analytical Industries Inc, Ambetronics Engineers Pvt Ltd, Orthodyne, Tiger Optics, LLC
