Optical Emission Spectroscopy Market:
Growth opportunities in the Optical Emission Spectroscopy Market look promising over the next six years. This is mainly due to the introduction of new technologies and helps to determine the elemental composition of a broad range of metals.
Optical Emission Spectroscopy Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global optical emission spectroscopy market is forecasted to witness significant growth in the near future. Several major drivers supplementing the market growth include the augmenting endorsement of this technique owing to its user-friendly instrumentation along with its extensive implication across various industries, including aviation and automotive. Also, the launch of new sophisticated technologies has altered the requirement of consumers across enormous industry verticals. In addition, the effectuation of rigorous safety norms and quality control measures by the government has further strengthened the optical emission spectroscopy market share. The transpiring tendency of spectroscopy technology, especially in the field of agriculture, pharmaceuticals, chemicals, and clinical analysis has generated new ways for different mergers and acquisitions in the market.
Furthermore, the expanding preference towards outsourcing inquisitive requirements to third-party service providers is paving the way for market growth. Various remarkable features offered by this technology, such as rapid analysis time, easy use, and inherent accuracy, are attracting many end-users to the market. However, the high initial cost of the OES equipment and the inadequacy of a technically skilled workforce to handle OES equipment are hindering the optical emission spectroscopy market size.
Offering Segment Drivers
Based on the offering, services are expected to expand at a faster CAGR during the forecast period. This is primarily attributed to the increasing inculpation of third-party service providers, including SGS, Intertek, Bureau Veritas. Furthermore, the growing application of OES analyzers in the metal producing and processing industries, which include automotive, aerospace & defense, metals, and heavy machinery, scrap and recycling industries, and the utilization of ICP-OES in pharmaceuticals, chemicals, food & beverages, and environmental industries will bolster the market growth.
Regional Drivers
Based on the regional coverage, Asia-pacific is projected to dominate the market over the forecast period. This is mainly because of the ongoing economic expansion, accompanied by infrastructural developments. The APAC is a prominent market for several sectors, including automobiles, defense, and consumer electronics. The immense investments and business enlargement opportunities in many sectors are driving the market growth.
Optical Emission Spectroscopy Market’s leading Manufacturers:
- Thermo Fisher Scientific
- Hitachi High-Tech Analytical Science
- Shimadzu Corporation
- PerkinElmer Inc.
- Skyray Instrument USA, Inc.
- Bruker
- Ametek
- HORIBA
- Agilent Technologies
- Analytik Jena AG
Optical Emission Spectroscopy Market Segmentation:
Segmentation by Offering
- Equipment
- Services
Segmentation by Form Factor
- Portable
- Benchtop
Segmentation by Excitation Source Type
- Inductively Coupled Plasma Optical Emission Spectroscopy
- Arc/Spark Optical Emission Spectroscopy Mechanical
Segmentation by Detector Type
- Solid-State Detector
- Photomultiplier Tube
- Hybrid
Segmentation by Vertical
- Automotive
- Scrap And Recycling
- Aerospace & Defense
- Metals And Heavy Machinery
- Power Generation
- Food & Beverages
- Environmental
- Infrastructure
- Pharmaceuticals And Life Sciences
- Chemicals, Oil & Gas
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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