The global oxygen analyzer market is reportedly valued at USD 842.3 million in 2023 and is expected to grow at a CAGR of over 9.3% over the next few years. Key players in the market include Advanced Micro Instruments, Inc., Nova Analytical Systems, ABB, Emerson Electric Co., etc., which are employing strategies such as mergers and acquisitions, partnerships, and product launches to consolidate their market share.
This growth was mainly driven by the following factors:
- Stringent security and regulatory compliance: There is an increasing demand for oxygen analyzers in several industries, especially in the fields of oil and gas, healthcare, environmental monitoring agencies, research, food and beverages, etc. This is mainly due to the safety and regulatory compliance requirements of these industries. The requirements are becoming increasingly stringent.
- Competitive strategies of market players: Key players in the market adopt various strategies to strengthen their market share and gain competitive advantage. These strategies include mergers and acquisitions, partnerships, and product launches. For example, in August 2023, ABB partnered with Samsung Engineering to support comprehensive analyzer solutions for the energy industry.
- market segmentation: The market report provides detailed segmentation of the Oxygen Analyzers market by mobility (fixed and mobile), end user (e.g. Oil & Gas, Healthcare, etc.), technology type (e.g. electrochemical, paramagnetic, thermomagnetic , zirconia, etc.) and regions.
- Regional market overview: The report also covers a detailed analysis of the Oxygen Analyzer market across different regions, including market value, volume, and market share analysis in regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Africa.
Strict safety regulations across industries such as healthcare, manufacturing and environmental monitoring are driving the increasing demand for oxygen analyzers to ensure compliance with safety standards. In addition, some countries are actively investing in monitoring and safety equipment, while infrastructure development and increasing industrialization in emerging markets have also boosted the market demand for oxygen analyzers.
The growing importance of workplace safety has led to an increased need to monitor oxygen levels in various industrial environments, leading to the widespread adoption of oxygen analyzers. In addition, the food and beverage industry is also using oxygen analyzers to monitor and control oxygen levels when producing and packaging perishable goods to ensure product quality and extend shelf life.
