pH Meters Market Worth USD 1.95 Billion by 2022 | Witnessing High Competition due to the Presence of a Large Number of Small and Medium Scale Manufacturers
The global pH meters market size was valued at over USD 1,264.5 million in 2014 and is expected to grow at a CAGR of 5.6% over the forecast period. Rising demand for these devices in industries such as food processing, water treatment, power, agricultural, fertilizers etc. is among the key factors expected to drive market growth.
(firmenpresse) - Global pH meters market is expected to reach nearly USD 1,951.2 million by 2022 according to a new report by Grand View Research Inc. Key factors attributing to the market growth are introduction of technologically advanced portable and bench top pH meters, growing concerns to monitor environmental pollution and the need to regulate pH levels in various consumable products.
Increasing demand for quality control and routine testing of soil, water, food, beverage, and dairy products is driving the use of new generation pH meters with multi-parameter analysis. The new devices are improving the efficiency, accuracy, ease of usage, and cost-effectiveness, which are expected to serve as high-impact rendering drivers over the forecast period.
Increasing awareness regarding the need to regulate waste water pH in industries such as chemicals, pharmaceuticals, food processing, and other end use sectors is a key factor boosting the usage rates. pH neutralization of the waste water discharged from these industries is critical to prevent corrosion of sewage pipes and prevent leakage of harmful substances in to the land and other water bodies.
Furthermore, growing awareness about soil pH and its impact on plant nutrient absorption is a key factor boosting the soil pH analysis. Maintaining the appropriate ratio of nitrogen, phosphorous, and potassium (N-P-K) in the soil plays an important role in improving the product yield, quality, and also improves resistance to various diseases. The shift towards scientific agricultural practices and growing demand for organic farming, soil testing, irrigational water testing, are some the key factors expected to positively reinforce market growth over the forecast period.
Further key findings from the study suggest:
•In 2014, bench top pH meters were the largest segment accounting for nearly 57% of the market. Bench top pH meters are widely used in different industries, research labs and commercial testing centers owing to their advanced features, ease of operation, durability of the sensors, and accuracy.
•Portable pH meters are expected to be the fastest growing segment over the forecast period. Low cost of these devices, high accuracy and ability to monitor pH of samples at any location are major factors expected to boost the usage rates in the next seven years.
•In 2014, Europe dominated the overall pH meters market with nearly 34% share. Some key factors attributed to the high share are presence of stringent environmental regulations, awareness about scientific agricultural, food and beverage manufacturing practices.
•However, Asia Pacific is expected to the fastest growing with a CAGR of 7.9% over the forecast period. The shift from traditional agricultural practices to scientific and organic farming, increasing emphasis on managing waste water discharge, and increasing demand from academic, food processing, beverages and other end use industries are key factors expected to reinforce the market growth over the forecast period.
•The market is witnessing high competition due to the presence of a large number of small and medium scale manufacturers catering to regional demand. Key market players include Thermo Fisher Scientific, Danaher Corporation, Mettler Toledo, Metrohm USA, Hanna Instruments, Agilent Technologies, and Perkin Elmer.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales(at)grandviewresearch.com
For More Information: www.grandviewresearch.com
Datum: 26.03.2020 - 12:52 Uhr
Sprache: Deutsch
News-ID 609659
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Date of sending: 26.03.2020
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