Key Market Overview:
Liquid analytical instrument market size was worth USD 516.99 Million in 2022 and is estimated to reach over USD 789.41 Million by 2030, witnessing a CAGR of 5.43% during the forecast period (2023-2030).
In recent years, the liquid analytical instrument market has witnessed various technological advancements for the development of more efficient, accurate, and reliable instruments. These advancements have made it possible to analyze a wide range of parameters, and the manufacturers are more focused on introducing more user-friendly instruments to increase their adoption across different industries.
Further, growing adoption of liquid analytical instruments for product repeatability in terms of consistent quality and taste of soft drinks, beers, and other beverages is anticipated to create favorable circumstances for market growth. For instance, according to the Board of Governors of the Federal Reserve System (US), the total industrial production and capacity of non-durable goods such as soft drinks in the US were over 104 units in February 2023. Thus, such rising production of soft drinks is expected to propel the demand for liquid analytical instruments in terms of measuring and monitoring the addition and concentration of flavorings and other additives in such soft drinks.
Also, increased usage of liquid analytical instruments such as gauges and transmitters in marine industry for monitoring levels of fluids, oils, water tanks, and ballasts is projected to witness an increase with the rising expenditures on marine vessels and related devices. Such high demand for marine vessels is due to growing dependence on inland and coastal shipping due to increased volumes of goods trading and shipping. For instance, according to a report published by the Government of India, Ministry of Ports, Shipping and Waterways Transport Research Wing, India has maintained a focus on increasing the share of cargo transported through waterways, resulting in a growth from 0.5% to 2% over the last five years. Additionally, there has been a remarkable year-on-year growth of over 20% in cargo volumes during this period.
Liquid Analytical Instrument Report Coverage:
Rising awareness about water scarcity and conservation
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||789.41 Million|
|CAGR (2023-2030)||5.43 %|
|By Type||pH and ORP Analyzers, Conductivity Analyzers, Dissolved Oxygen Analyzers, Turbidity Analyzers, Liquid Density Analyzers, Others|
|By Application||Liquid Chemistry Monitoring, Drug Discovery, Wastewater Management, Water Purification, Others|
|By End Use Industry||Chemical Industry, Food and Beverage Industry, Wastewater Treatment Industry, Oil and Gas Industry, Pharmaceuticals Industry, Others|
|By Geography||Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] |
Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]
North America [United States, Canada, Mexico]
Middle East & Africa [GCC, North Africa, South Africa]
South America [Brazil, Argentina, Columbia, Chile, Peru]
|Key Players||Branom Instrument Company, Yokogawa India Ltd., ABB Group, JUMO Instrument Company Ltd, Emerson Electric Co., Hach Company, Honeywell International Inc., Teledyne Analytical Instruments, Shimadzu Scientific Instruments, Analytical Systems Keco, LLC, Endress+Hauser Group Services AG|
: The increasing awareness about water scarcity and conservation results in high demand for water treatment and analysis instruments. For instance, in an effort to provide safe drinking water to the people of India, the government established the Jal Shakti Ministry to unify all water-related agencies under one ministry. Following its establishment, the Jal Shakti Ministry initiated the Jal Jeevan Mission, with the aim of providing piped drinking water to 146 million households in 700,000 villages by 2024. Thus, such initiatives by the government help liquid analytical instruments play a crucial role in monitoring the water quality and ensuring its safety, which boosts the demand for these instruments.
Growing demand for process automation
: The rising demand for process automation in various industries has led to increased adoption of liquid analytical instruments. For instance, according to a report published by World Economic Forum, more than 80% of business leaders have reported implementing and accelerating the automation of work processes, as well as expanding the application of remote work. These instruments are used to monitor and control various parameters in real time, which ensures the efficiency and effectiveness of the process, leading to an increased demand for these instruments.
Strict government regulations
: Global governments and regulatory bodies across various regions have implemented stringent regulations related to water quality, food safety, and environmental protection. For instance, the Global Strategy for Food Safety was created by World Health Organization, with input from various stakeholders including the Technical Advisory Group (TAG) for Food Safety, WHO regional advisors in food safety, international partners, non-governmental organizations (NGOs), and WHO Collaborating Centres, to promote safer food for better health. Compliance with such regulations requires the use of liquid analytical instruments to monitor the chemical and physical properties of liquids. This has led to an increase in demand for these instruments, thus driving the liquid analytical instrument market growth.
• Liquid analytical instruments are typically highly specialized and require significant technical expertise to operate and maintain. The complexity of these instruments acts as a challenge for businesses that lack the necessary technical skills or resources to operate and maintain them effectively.
• The limited application scope of these instruments in certain industries such as pharmaceuticals, chemicals, and water treatment could hamper their growth potential in other industries, and as a result, the circumstances could be challenging for manufacturers to expand their customer base.
• The high competitiveness of liquid analytical instrument market due to presence of numerous players could make it challenging for manufacturers to differentiate themselves and gain a foothold in the market.
The global liquid analytical instrument market is segmented by type segment into pH and ORP analyzers, conductivity analyzers, dissolved oxygen analyzers, turbidity analyzers, liquid density analyzers, and others. The pH and ORP analyzers segment accounted for highest market share in 2022. Such analyzers witness increased demand for evaluation of the alkalinity or acidity of specific drugs in pharmaceutical and biotechnology industries. Also, pH and ORP analyzers are optimized to eliminate surprise field maintenance, system configuration, and calibration with the usage of predictive maintenance and real-time sensor diagnostic features. Moreover, conductivity analyzers are expected to contribute substantial shares to the market growth in 2022 due to the growing demand for conductivity measurement of brine concentration in the chemical industry.
The market is divided on the basis of application segments into liquid chemistry monitoring, drug discovery, wastewater management, water purification, and others. The wastewater management segment accounted for highest market share in 2022 due to increased usage of liquid analytical instruments for keeping ammonium, phosphate, and nitrate discharge under control in wastewater treatment processes. However, liquid chemistry monitoring is also estimated to support market growth in terms of volume and value. A major role in monitoring liquid concentrations is played by liquid analytical instruments for maintaining higher efficiency to reduce overall costs of production.
Also, such instruments are expected to witness an increase over forecast periods due to increased demand for chemicals in major end-use industries such as the automotive, energy, and food and beverage industry. For instance, according to a report published by Deloitte, the chemical industry in the United States witnessed a growth of approximately 1.5% in terms of volumes in 2021, followed by a projected increase of 3.0% in 2022. Additionally, the industry is anticipated to observe an 8.0% rise in shipments during both 2021 and 2022, which was witnessed after a significant decrease of 13.5% in 2020.
By End Use Industry
The global liquid analytical instrument market statistics are categorized in the context of end-use industry into the chemical industry, food and beverage industry, wastewater treatment industry, oil and gas industry, pharmaceuticals industry, and others. The wastewater treatment industry contributed highest shares to the market in 2022 in terms of revenue. Increased public and private funding to improve water treatment facilities through adoption of technologically advanced infrastructure is the major factor that supports segmental growth. For instance, the EU member states collectively invest approximately EUR 100 billion every year in water supply and sanitation.
The regional segment includes North America, Europe, the Middle East and Africa, Asia Pacific, and Latin America. Europe is projected to support the market statistics in 2022 in terms of revenue and volume. Strict regulations and protocols on the inclusion of advanced instruments in various end use industries, especially water treatment are major factors supporting the market growth in the European region. For instance, according to Government Digital Service (GDS) or GOV.UK, the purpose of the monitoring certification scheme (MCERTS) established by the Environment Agency is to offer guidance regarding the standards that must be adhered in terms of monitoring emissions that could impact the environment. Such standards are mandatorily applied to those facilities that possess a permit under the Environmental Permitting Regulations (EPR) with also a requirement for monitoring liquid flow (such as trade effluent or sewage).
Liquid Analytical Instrument Market Competitive Landscape:
The market of the liquid analytical instrument is highly competitive, with a variety of players offering a wide range of products and services. Companies that focus on innovation and providing their customers with customized solutions are expected to witness an established position in this market. Mentioned are market players that operate in latest market circumstances to offer innovative products for various industries –
• Branom Instrument Company
• Yokogawa India Ltd.
• ABB Group
• JUMO Instrument Company Ltd
• Emerson Electric Co.
• Hach Company
• Honeywell International Inc.
• Teledyne Analytical Instruments
• Shimadzu Scientific Instruments
• Analytical Systems Keco, LLC
• Endress+Hauser Group Services AG
• In January 2023, Emerson launched a non-contact radar device called the Rosemount 3408 Level Transmitter to improve plant performance and worker safety. The device has been designed to optimize ease-of-use that acts as a versatile solution for level measurement in various industries and applications such as chemical storage, mixing tanks, and open-air settings.
• In February 2023, Fluence Analytics, a company at the forefront of digitizing the monitoring of polymerization reactions, has been acquired by Yokogawa. This acquisition is expected to enable the continuous and real-time monitoring of polymers and biopolymers during production processes.