The global trace oxygen analyzer market is set to have an expected valuation of USD 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 USD 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.
| Attributes | Details |
|---|---|
| Trace Oxygen Analyzer Market CAGR (2023 to 2033) | 5.4% |
| Trace Oxygen Analyzer Market Size (2023) | USD 1.2 billion |
| Trace Oxygen Analyzer Market Size (2033) | USD 2.1 billion |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
For the detection and ongoing monitoring of oxygen levels in gas streams, industrial processes, or controlled environments, a variety of technologies are available. The need for trace oxygen analyzers is rising, as technicians are required to make operational choices in real time.
| Attributes | Values |
|---|---|
| CAGR (2018 to 2022) | 3.1% |
| Market Value (2018) | USD 0.95 billion |
| Market Value (2022) | USD 1.1 billion |
| Market Value (2026) | USD 1.41 billion |
| Absolute Opportunity Growth (2018 to 2022) | USD 0.1 billion |
| Absolute Opportunity Growth (2023 to 2033) | USD 0.9 billion |
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.
Principal Consultant
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.
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 the revenues worth USD 342.5 million by the end of 2033.
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.
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.
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.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The zirconia oxygen analyzer segment is projected to create an absolute dollar opportunity of more than USD 403.8 million during the period of 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 of time, which is the key factor behind the excessive demand from end-use sectors.
A portable trace oxygen analyzer is projected to create an absolute dollar opportunity of more than USD 625.9 million during the period of 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 the portable analyzer. The portable segment is expected to expand with a 5.9% CAGR during the forecast period.
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 a number of 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, oxygen analyzer use in the healthcare sector is anticipated to increase.
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 a number of 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:
The market in 2023 is valued USD 1.2 billion.
By 2033, the market will reach USD 2.1 billion.
The market will expand at a 5.4% CAGR through 2033.
From 2018 to 2022, the market rose at a 3.1% CAGR.
In 2023, the United States accounts for 16.6% revenue.
1. Executive Summary | Trace Oxygen Analyzer Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Paramagnetic Oxygen Analyzer 5.2. Zirconia Oxygen Analyzer 5.3. Electrochemical Oxygen Analyzer 5.4. Other Analyzers 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Portability Type 6.1. Portable 6.2. Benchtop 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Pharmaceutical & Healthcare 7.2. Electronics 7.3. Chemical & Petrochemical 7.4. Food & Beverages 7.5. Power Generation 7.6. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Emerson Electric Co 16.2. Yokogawa Electric Corporation 16.3. AMETEK, Inc. 16.4. Teledyne Technologies Incorporated 16.5. Horiba, Ltd 16.6. Michell Instruments 16.7. Nova Analytical Systems 16.8. Advanced Micro Instruments Inc. 16.9. Alpha Omega Instruments Corp 16.10. Analytical Industries Inc. 16.11. Ambetronics Engineers Pvt Ltd 16.12. Orthodyne 16.13. Tiger Optics, LLC 17. Assumptions & Acronyms Used 18. Research Methodology
Explore Testing Equipment Insights
View Reports
Trace Oxygen Analyzer Market
