In the COVID-19 period, the global electrochemical instrument market was valued at USD 3,139.9 million in 2021 and is expected to grow at a CAGR of 5.3% over the forecast period.
An increasing number of biotechnology and pharmaceutical companies are predicted to fuel the electrochemical industry. Another important factor projected to boost market expansion is increased research and development investments in the energy and power sector for battery development. Emerging-market governments are implementing a variety of projects linked to water sanitation and air pollution, which could result in profitable market prospects. Furthermore, strict environmental rules are forcing enterprises to constantly check their surroundings, including air, soil, and water, which will drive the electrochemical instrument market.
The demand for environmental testing solutions has increased as the prevalence of diseases caused by air and water pollution has increased. Moreover, during the forecast period, strict environmental regulations and various awareness programs are expected to boost market growth. Moreover, during the projection period, investment in laboratory equipment for environmental testing would contribute to market growth.
North America, Europe, Asia Pacific, Middle East and Africa, and South America are the market segments. During the projected period, Europe is expected to be the largest region in the electrochemical instrument market. During the projected period, however, Asia Pacific is expected to be the fastest expanding region.
In the COVID-19 period, the Europe electrochemical instrument market is expected to grow at a CAGR of 4.4% over the forecast period. Rapid technological breakthroughs in battery technology for the energy and power sector are one element driving market expansion in Europe. The existence of established companies is expected to play a vital influence in the regional market's strengthening. Furthermore, the region's high demand for electrochemical instruments is likely to be supported by continual environmental monitoring and testing.
The market research study is essentially a collection of first hand data, quantitative and qualitative analysis performed by industry specialists, and contributions made by industry examiners and market participants throughout the value chain. The market research report examines parent market trends, control components, and macroeconomic variables from top to bottom. Aside from that, the market research report examines the main impact of identifiable market factors on market segments and geographies.
An increasing number of biotechnology and pharmaceutical companies are predicted to fuel the electrochemical industry. Another important factor projected to boost market expansion is increased research and development investments in the energy and power sector for battery development. Emerging-market governments are implementing a variety of projects linked to water sanitation and air pollution, which could result in profitable market prospects. Furthermore, strict environmental rules are forcing enterprises to constantly check their surroundings, including air, soil, and water, which will drive the electrochemical instrument market.
The demand for environmental testing solutions has increased as the prevalence of diseases caused by air and water pollution has increased. Moreover, during the forecast period, strict environmental regulations and various awareness programs are expected to boost market growth. Moreover, during the projection period, investment in laboratory equipment for environmental testing would contribute to market growth.
Regional development:
North America, Europe, Asia Pacific, Middle East and Africa, and South America are the market segments. During the projected period, Europe is expected to be the largest region in the electrochemical instrument market. During the projected period, however, Asia Pacific is expected to be the fastest expanding region.
In the COVID-19 period, the Europe electrochemical instrument market is expected to grow at a CAGR of 4.4% over the forecast period. Rapid technological breakthroughs in battery technology for the energy and power sector are one element driving market expansion in Europe. The existence of established companies is expected to play a vital influence in the regional market's strengthening. Furthermore, the region's high demand for electrochemical instruments is likely to be supported by continual environmental monitoring and testing.
Key Questions Answered In The Market Report:
- What will be the growth rate of the global electrochemical instrument market?
- Who are the key market leaders of the global electrochemical instrument market?
- What are the sales, price and revenue analysis of the global electrochemical instrument market?
- What are the key factors which increase the growth of the global market?
- Detailed Segmentation to help each stakeholder in market
- 2500+ data points in 60+ tables with focus on historic demand, estimated demand, and demand forecast
- Impact of COVID-19 on demand estimation & forecasts (2020 onward)
- Separate analysis of each segment to understand market deviation due to Covid-19 from 2020 onwards
- Coverage across 5 major regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Country level demand of the 25+ major markets with key trends & factors influencing the same
The market research study is essentially a collection of first hand data, quantitative and qualitative analysis performed by industry specialists, and contributions made by industry examiners and market participants throughout the value chain. The market research report examines parent market trends, control components, and macroeconomic variables from top to bottom. Aside from that, the market research report examines the main impact of identifiable market factors on market segments and geographies.
Table of Contents
1. Market Abstract
2. Market Introduction
3. Research Practice
4. Key Related Data
5. Market Development Analysis
6. Market Development Analysis
7. Electrochemical Instruments Market, by Product
8. Electrochemical Instruments Market, by Technology
9. Electrochemical Instruments Market, by End-user
10. Electrochemical Instruments Market, Regional Analysis
List of Tables
List of Figures
Executive Summary
The global electrochemical instrument market in the COVID-19 period has been estimated to value USD 3,139.9 million in 2021 and is projected to reach USD 4,985.2 million by 2030 with a CAGR of 5.3%. However, without the COVID-19 impact, the global electrochemical instrument market was estimated to be USD 3,249.0 million in 2021 and USD 5,284.8 million in 2030, with a CAGR of 5.6%, during the forecast period. Rising public awareness about the importance of safe drinking water and demand for multiparameter test instruments in environmental testing industry is expected to boost the market growth during the forecast period.Electrochemical instruments are used to measure and monitor various parameters in a sample solution, including conductivity, pH, corrosion, flaw detection, ion concentrations, and dissolved oxygen. They are common instruments in biotechnology & pharmaceutical industries, agriculture & food industries, academic institutions, and are an integral part of research laboratories. Also, chemical processing, storage facilities, laboratories, steel manufacturing, and other applications require electrochemical instruments. These instruments can be atop benches, mount on computer boards, slide into racks, and fit inside cabinets, and they are portable and handheld.
The electrochemical market is expected to be driven by increasing number of biotechnology and pharmaceutical companies. Increasing research and development investments in the energy and power sector for battery development is another significant factor expected to augment the market growth. Governments of emerging countries are implementing various projects related to water sanitation and air emission that can provide lucrative market opportunities. Furthermore, stringent environmental regulations are compelling industries to continuously monitor their surroundings including, air, soil, and water which will have constant support to the electrochemical instrument market. The global market's growth is being hampered by factors such as the decline in average selling prices of the raw material used in manufacturing electrochemical instruments and the commoditization of electrochemical instruments.
The electrochemical instrument market has been segmented based on product, technology, end user, and region.
Based on product, the market is segmented into electrochemical meters, titrators, ion chromatographs, potentiostats/galvanostats, and others. The electrochemical meter segment is expected to hold the largest share in the global electrochemical instrument market during the forecast period. Electrochemical meter segment in the COVID-19 period has been estimated to value USD 796.2 million in 2021 and is projected to reach USD 1,343.6 million by 2030 a CAGR of 6.0%, between 2021-2030. However, without the COVID-19 impact, electrochemical meters segment was estimated to be USD 823.8 million in 2021 and USD 1,424.4 million in 2030, with a CAGR of 6.3%, during the forecast period.
Growing demand for Benchtop and handheld meters in various applications like water treatment plants, food & beverage industry will boost the growth of electrochemical meters. The ability of these meters to measure various parameters like temperature, pH, dissolved oxygen and others in water and solutions will support the market growth. They are mainly applicable in water treatment plants and hence growing demand for quality control of water will drive the market.
Based on the technology, the market is segmented into potentiometry, voltammetry, coulometry and others. The potentiometry segment is accounted to have the largest share in global electrochemical instrument market during the forecast period. Potentiometry segment in the COVID-19 period has been estimated a value of USD 1,037.4 million in 2021 and is projected to reach USD 1,596.2 million by 2030 with a CAGR of 4.9%. However, without the COVID-19 impact, potentiometry segment was estimated to be USD 1,073.4 million in 2021 and USD 1,692.2 million in 2030 with a CAGR of 5.2%, during the forecast period.
The demand for ion selective electrolytes in clinical chemistry and environmental chemistry is expected to boost the potentiometry segment growth. Furthermore, the demand for this technology to detect and analyze ions during soil monitoring, food and beverage testing, and detergent manufacturing is projected to have a significant impact on the market growth during the forecast period.
Based on end user, the market is segmented into environmental testing industry, biotechnology and pharmaceutical industries, food and agriculture industries, academic research institutes, and others. The environmental testing industry segment is accounted to have the largest share in global electrochemical instrument market during the forecast period. Environmental testing industry segment in the COVID-19 period has been estimated to value USD 844.8 million in 2021 and is projected to reach USD 1,375.6 million by 2030 with a CAGR of 5.6%. However, without the COVID-19 impact, environmental testing industry segment was estimated to be USD 874.1 million in 2021 and USD 1,458.2 million in 2030 with a CAGR of 5.9% during the forecast period.
Rising prevalence of diseases due to air and water pollution has boosted the demand for environmental testing solutions. Furthermore, stringent environmental regulations and various awareness programs are expected to augment the market growth during the forecast period. Also, investment in laboratory equipment for environmental testing will contribute to market growth during the forecast period.
Based on region, the market has been segmented as North America, Europe, Asia Pacific, Middle East and Africa, and South America. Europe is expected to be the largest region in the electrochemical instrument market during the forecast period. However, Asia Pacific is expected to be the fastest growing region during the forecast period. Europe electrochemical instrument market in the COVID-19 period has been estimated a value of USD 916.1 million in 2021 and is projected to reach USD 1,351.0 million by 2030 at a CAGR of 4.4%. However, without the COVID-19 impact, Europe electrochemical instrument market was estimated to be USD 948.0 million in 2021 and USD 1,432.2 million in 2030, with a CAGR of 4.7% during the forecast period.
The factor contributing to market growth in Europe is the rapid technological advancements in battery technology for the energy and power sector. The presence of established players is predicted to play a significant role in strengthening the regional market. Moreover, continuous environmental monitoring and testing are expected to support the high demand for electrochemical instruments in the region.
Factors like rising environmental issues in developing countries, research activities in the energy sector in developed countries, and the presence of major electrochemical instrument manufacturers are expected to boost the market during the forecast period in Asia Pacific region.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Dkk-Toa Corporation
- Thermo Fisher Scientific Inc.
- Danaher Corporation
- Horiba
- Yokogawa Electric Corporation
- Mettler Toledo International Inc.
- Endress+Hauser Group Services AG
- Xylem Inc.
- Metrohm Ag,Gamry Instruments
- Amel Electrochemistry
- Boqu Instrument Co. Ltd.
- Zahner Elektrik GmbH & Co
- Hanna Instruments Inc.
