According to a Research Report Insights (RRI) report, the global market for total carbon analyzer is set to expand at 8.1% value CAGR and 7.6% CAGR in terms of volume between 2016 and 2024. In addition, the market is set to reach US$ 843.5 Million by 2016 end and will surpass US$ 1586 Million by the end of 2024
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The expansion of the microelectronics industry which attributed to the increasing innovation in technology and rise in demand for electronics products across the globe is resulting in rapid adoption of ultra-pure water for manufacturing high-fidelity microelectronics. Moreover, increasing demand for ultra-pure water from the pharmaceutical industry is also considered as a major factor defining the growth on the market. Total carbon analyzer systems are used in manufacturing product where water is treated as the raw material, in procedures of analyzing purifies water and testing water quality for syringes. Further, stern regulations that guide the mandatory quality standard adherence for processed or manufactured goods across several industrial domains including f&B and healthcare industry is anticipated to positively impact the market growth in during the forecast period. Thus, higher adoption of water analytical systems for testing the water quality and adherence to guidelines for keeping the mandatory quality issued by government authorities in various countries across the globe are major factors expected to drive the global market for total carbon analyzer
By product type, the laboratory segment is expected to reach US$ 1,033.1 Million by the end of 2024, reflecting a 7.9% CAGR during the forecast period. While the revenues for on-line segment is expected to cross US$ 331 Million with over 22% share of the market over 2024.
Based on application, pharmaceuticals is expected to be the leading segment, accounting for over 37% share of the market and increasing at over 8%. The segment is followed by semiconductors which is set to witness a growth rate of 8.2%, accounting for over 24% share of the market by 2024 end.
By end-use, industries is expected to be the leading segment, estimated to reach US$ 1,168 Million by 2024, increasing at 8.1% CAGR during the forecast period. Based on sample type, the TC for liquid sample segment is set to account for the over 52% share of the market, and is expected to witness growth rate of over 7%.
Based on regions, the market in Europe is expected to lead in 2016, accounting for over 38% share of the market. In addition, the region is anticipated to continue its dominance over 2024. While the Middle East and Africa region is expected to witness the highest growth, expanding at over 10% CAGR during the forecast period. Likewise, the market in Asia Pacific and North America are expected to account for healthy share of the market. The Western European nations are heavily investing in manufacturing total carbon analyzer primarily using NDIR method and conductivity method. Moreover, growing industrialization, improved safety regulations over product handling, and expansion of pharmaceutical and microelectronics industry is projected to further support the market growth.
Key players operating in the global market for total carbon analyzer include UIC, Inc., Xylem Inc., Analytik Jena AG, GE Analytical Instruments, Inc., ELTRA GmbH, Shimadzu Corporation, Hach Company, Inc., Mettler-Toledo International Inc., Teledyne Analytical Instruments and Skalar Analytical B.V.