Optical Emission Spectroscopy Market To Reach USD 929.1 Million By 2027 | CAGR 6.3% — Forencis Research

Global Optical Emission Spectroscopy Market: Key Highlights

• According to the new market research report “Optical Emission Spectroscopy Market by Type (Sequential Type Simultaneous Type), by Detection System (Photomultiplier Tube, Solid-State Detectors), by Technique (: ICP-OES, Arc Spark-OES, GD-OES), by End User Industry (Automotive, Manufacturing, Oil & Gas, Aerospace & Defense, Healthcare, Energy & Power, Food & Beverages, Others), by Region (Asia Pacific, Europe, Middle East, and Africa, South America, North America) — Global Forecast (2019 to 2027)”, the global optical emission spectroscopy market is estimated to reach USD 929.1 Million by 2027 at a CAGR of 6.3% during forecast period 2020–2027.
• Enforcement of government safety regulations & quality control mandate and technological enhancement with customer requirements are expected to drive the market during the forecast period.
• However, the high initial installation cost will become a restraint for the global optical emission spectroscopy market during the projected period.

Global Optical Emission Spectroscopy Market: Key Market Dynamics

• Increasing demand for advanced laboratory equipment, the arrival of new technologies, and Increasing aerospace & defense, manufacturing, and healthcare industry is expected to grow the market during the upcoming years.
• The growing trend of adopting spectroscopic technology in the field of chemicals, pharmaceutical, agriculture is creating new ways for different mergers and acquisition processes in the optical emission spectroscopy market.
• Moreover, demand from the scrap and recycling industry is expected to become an opportunity for the market during the upcoming years.
• However, lack of technical expertise is expected to become a challenge for the market during the projected years.

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Global Optical Emission Spectroscopy Market: Regional Overview

• Asia-Pacific

Asia-pacific is expected to hold the largest market share for the optical emission spectroscopy market as the technology is accepted vastly in the Asia-Pacific region. Increasing infrastructural developments and continuous developments in defense, consumer electronics, and automotive industry helps to grow the optical emission spectroscopy market in the Asia-Pacific region. Japan is expected to dominate the market in the Asia-Pacific region due to the presence of global players such as Hitachi High-Tech Analytical Science and Shimadzu Corporation, and HORIBA.

Hence, such high penetration of the Optical Emission Spectroscopy in the region may boost the growth of the market in the Asia-Pacific region.

• North America

North America is expected to grow at the highest CAGR during the upcoming years due to increasing demand from healthcare, food & beverages, and defense industry and the presence of global players such as Thermo Fisher Scientific Inc., Bruker, Agilent Technologies Inc., and PerkinElmer, Inc. among others.

Early adoption of new technologies and changing technological requirements is expected to fuel the growth in the OES market in North America.

Global Optical Emission Spectroscopy Market: Key Players Overview

• HORIBA:

HORIBA engages in the manufacturing and selling of automotive emission measurement systems, a wide range of scientific analyzers, environmental measuring instruments, medical, diagnostic analyzers, and measuring equipment used in the semiconductor industry. The company provides various ICP-OES and GD-OES machines for quick and reliable results. In 2016, the company launched Neo, a software to facilitate method development, sample measurements and results management.

• Shimadzu Corporation:

Shimadzu Corporation engages in the provision of providing analytical instruments, testing and measuring instruments, medical systems, industrial machinery & equipment, and aircraft equipment. In OES, the company provides PDA-8000, PDA-7000, and PDA-MF Series to enhance the measurement reproducibility and rapid elemental analysis of solid metal samples. The company recently focuses on both organic and inorganic growth strategies in terms of new product developments and mergers & acquisitions.

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