Market Overview
The Moisture Analyzer Market Size is expected to reach USD 1,571.4 Million, with a CAGR of 3.9% during the forecast period.
Moisture analyzers are becoming more popular for determining the humidity and temperature of components and industrial products. The main reasons for measuring moisture content are to increase the product's shelf life, quality, and raw material optimization, among other things. As a result of the potential benefits and improvements in the Moisture Analyzer sector, the market for Moisture Analyzer is predicted to increase. Sensor integration, real-time measurement, ensuring compliance, robustness, and other technological advancements in the industry are all important drivers of the Moisture Analyzer market.
The COVID 19 has had an impact on the expansion of numerous industrial sectors as well as the economic situation of several countries throughout the world. In this region of the world, the burden on industries, less human power, lower production rates, and industry closures have all been very common. Medical assistance and pharmaceutical products such as diagnostic kits, PPE kits, and other medical help and pharmaceutical products are in high demand, according to health care groups. Even though the pharmaceutical industries drove the expansion of the Moisture Analyzer market throughout the pandemic, funding for moisture analyzer R&D has decreased dramatically as the economy has deteriorated. As a result, the overall growth of the Moisture Analyzer Market has been hampered, although it is predicted to rise at a reasonable rate throughout the forecast period.
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Market Segmentation
Based on the Type, the market has been segmented into Desktop, Handheld, and Inline.
Based on the Application, the market has been segmented into Plastics and Polymers, Construction, Agriculture, Food and beverage, Fabrics and textiles, Pharmaceuticals, and Others.
Based on the Technique, the market has been segmented into Karl Fischer Titration, Loss-on-dying, Capacitance, Microwave, Near-infrared, Radio Frequency, and Others.
Based on the Region, the market has been segmented into North America, Europe, Asia-pacific, and the Rest of the World (RoW).
Regional Outlook
The moisture analyzer market, based on region, has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
Throughout the study period North America is projected to lead the market for moisture analyzers followed by Europe. North America is the largest region in the moisture analyser industry in terms of market share. This area was further divided into the United States , Canada and Mexico. The US dominated the market for moisture analyzers followed by Mexico and Canada. Advances in industrial technology and development of the region's food & beverage industry are some of the factors that are responsible for the growth of the demand for moisture analysers. In addition, the presence of industry giants such as Mettler Toledo, General Electric, AMETEK.Inc, and Thermo Fisher Scientific Inc, is one of the driving factors for the growth of the market in this region. T Growth can be attributed to the rapid growth of the pharmaceutical and chemical industries, creating a higher demand for moisture analysers. In addition, growing industrialization to meet the requirement of high-quality manufacturing facilities is another factor responsible for the country's market growth.
From 2018 to 2024, Asia-Pacific is expected to be the fastest-growing region, while Europe is expected to be at second position in terms of market share during the assessment period. Germany is a developing country and a leader in innovation and development, with the involvement of key players in the fields of semiconductors, power electronics, and ICT. In addition, some of the other factors driving market growth in the rest of Europe include increased government inclination to maintain food quality , increased consumer awareness of technology, and increased adoption of next-generation technologies across the chemical and manufacturing industries to support domestic moisture analyzer market vendors. In addition, the expansion prospects for Western Europe's US-based market leaders are also significantly high, further paving the way for the growth of the region's moisture analyzer sector, further paving the way for the moisture analyser sector to expand.
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Industry News
The major key players in the market are Kett Electric Laboratory (Japan), Ametek, Inc. (US), Michell Instruments Inc. (US), General Electric Co. (US), PCE Instruments. (Norway), Mettler-Toledo International, Inc. (US), Spectrasensors, Inc. US), Thermo Fisher Scientific, Inc. (the US), Adam Equipment Inc. (UK), and Brookhuis Applied Technologies (Netherlands).
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