Yahoo Finance Tunable Diode Laser Analyzer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Measurement Type, Gas Analyzer Type, and Industry Application
The Tunable Diode Laser Analyzer market size is projected to reach US$ 935. 33 million by 2028 from US$ 622. 43 million in 2022; it is expected to grow at a CAGR of 7. 0% from 2022 to 2028. The growing focus on global warming is raising air quality deterioration and health concerns.
New York, July 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tunable Diode Laser Analyzer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Measurement Type, Gas Analyzer Type, and Industry Application" - https://www.reportlinker.com/p06295712/?utm_source=GNW
Many developing and developed economies are making tremendous efforts and massive investments in promoting the adoption of new technologies to detect and limit hazardous gases such as CH4, CO2, CO, H2S, and HONO in the atmosphere. A few of the recent developments mentioned in the tunable diode laser analyzer market analysis include:
• In October 2021, the UK government announced a boiler upgrade scheme worth US$ 477.38 million to reduce carbon emissions to help the country meet its goal of achieving low-carbon emission functionality in new heating system installations by 2035.
• In July 2021, GAIL, a subsidiary of the Ministry of Petroleum and Natural Gas, allocated US$ 671.14 million for the construction of two ethanol and compressed biogas (CBG) plants from municipal waste.
• According to the Central Electricity Authority (CEA), the power demand of India is expected to rise to 817 gigawatt (GW) by 2030. According to the National Infrastructure Pipeline 2019–2025, energy sector projects in this country accounted for the largest share (24%) of the total expected capital expenditure of US$ 1.4 trillion.
Such developments in the power sector, construction industry, and oil & gas sector in different countries are likely to boost the tunable diode laser analyzer market growth in the coming years.
The US Clean Air Act cover more than 200,000 boilers and incinerators from the US that emit harmful air pollution, such as mercury, cadmium, and particle pollution. As per the US Environmental Protection Agency, there are ~1.3 million natural gas-fired boilers in the US. The area source standards cover ~183,000 boilers at 92,000 area source facilities; ~86% of all boilers burn clean natural gas and contribute to pollution. As a result, tunable diode laser analysis is in high demand in various industrial facilities. Need for mitigating the greenhouse gas emission level is amongst a driving factor responsible to fuel tunable diode laser analyzer market size.
Supportive government policies such as the National Emission Standards for Hazardous Air Pollutants (NESHAP) for Industrial, Commercial, and Institutional Area Source Boilers of the US; Clean Air Act of US Climate Protection Plan 2050; and Net Zero-emission by 2050 in developing and developed economies are driving the growth of the tunable diode laser analyzer market. The introduction of policies that encourage the installation of energy-efficient heating systems and a shift in the trend toward zero-emission buildings are further supporting the growth of the tunable diode laser analyzer market.
Impact of COVID-19 Pandemic on Tunable Diode Laser Analyzer Market
The COVID-19 pandemic, as well as consequent limitations on international trade, led to considerable disruptions in industry supply chain operations in 2020 and 2021.Moreover, as the global oil prices plummeted significantly due to limited demand and continuous production by oil-producing countries, there was a considerable decline in production activities among major oil-producing countries.
The sudden onset of the COVID-19 pandemic adversely impacted operations at facilities manufacturing industrial automated solutions, leading to low production volumes.
The resumption of economic activities with the resumption of oil extraction projects and construction projects, consequently propelling the power demand, is fueling the tunable diode laser analyzer market.
The tunable diode laser analyzer market size in Germany is anticipated to retain its robust growth outlook during the forecast period.The German government’s climate policy prioritizes lowering greenhouse gas emissions.
Germany has set ambitious emission reduction targets, such as the Climate Action Plan 2050 and the Climate Action Programme 2020, aiming to reduce emissions by at least 40%, 55%, and 80–90% by 2020, 2030, and 2050, respectively.Furthermore, Germany aims to achieve extensive greenhouse gas neutrality by 2050, by balancing GHG emissions and carbon sink sequestration.
These stringent regulations in Germany have forced many industrial verticals, including privately owned power plants, oil & gas industry, mining and metal industries, and fertilizers and cement industries, to adopt energy-efficient products and services.Pertaining to rise in industrial sector, the scope of using TDLA is projected to positively grow.
This factor is expected to support the development of tunable diode laser analyzer market.
Thus, industrial end users are adopting tunable diode laser analyzers (TDLS) in their production plants to limit the footprint of carbon and emission of other toxic gases, including Particulate Matter (PM), CO, NOx, and SO2. Growing need to lower emission will create a positive impact in the adoption of tunable diode laser analyzers, and in turn will fuel the tunable diode laser analyzer market.
China leads the tunable diode laser analyzer market analysis share in APAC.In December 2021, China announced a five-year plan for smart manufacturing, pledging that large manufacturer will essentially achieve digitalization by 2025.
The Ministry of Industry and Information Technology (MIIT) and seven other departments of the central government announced a plan to boost research on the integration of key technologies, including artificial intelligence, 5G, Big Data, and edge computing, in smart manufacturing industries.
With growing manufacturing industry, the scope of using analyzers will rise and in turn would impact the scope of tunable diode laser analyzer market.
As per the plan, more than 70% of large Chinese businesses should be digitalized and more than 500 demonstration manufacturing facilities will be built across the country by 2025.Further, China plans to establish 3–5 robotics industry zones and double the intensity of robot manufacturing.
The revenue of the sector should grow at a rate of more than 20% per year.The level of digital networking in the manufacturing sector in China improved significantly (2016-2020) during the tenure of the 13th Five-Year Plan.
For example, the domestic market for smart manufacturing equipment has achieved more than 50%, and there are more than 70 industrial internet platforms.The Chinese government wants to speed up smart manufacturing.
With constant growth in smart manufacturing, the scope of using advanced analyzers for lowering emission level will rise, this factor is projected to propel the businesses of tunable diode laser analyzer market players.
The government initiatives in key technologies such as artificial intelligence, 5G, Big Data, and edge computing for accelerating the growth of the smart manufacturing industries will emphasize escalating the industrial production capacities and promoting industrial automation. With increase in industrialization and industrial automation, the TDLA adoption rate will increase which will directly impact the tunable diode laser analyzer market.
Emerson Electric Co., Siemens AG, ABB Ltd, Mettler Toledo, Teledyne Analytical Instruments, Yokogawa Electric Corporation, Unisearch Associates Inc., NEO Monitors AS, Axetris AG, and Boreal Laser Inc. are the tunable diode laser analyzer market players profiled in this study.
The overall tunable diode laser analyzer market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the tunable diode laser analyzer market.
The process also serves the purpose of obtaining an overview and forecast of the tunable diode laser analyzer market growth with respect to all market segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic.
Industry experts participating in this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the tunable diode laser analyzer market.
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