A study from Flow Research (www.flowresearch.com), "The World Market for Liquid Analytical Instruments," finds that the worldwide market for leading liquid analytical instruments is projected to grow substantially, and exceed $981 million by 2014. The market totaled $726 million in 2009 and is expected to equal $812.4 million in 2011.
Flow Research projects a compound annual growth rate (CAGR) of 6.2% in revenues for the total worldwide liquid analytical instrumentation market through 2014. Dissolved oxygen/oxygen analysis is the fastest-growing application with a projected CAGR of 7.1%, followed by potential of hydrogen/oxidation-reduction potential (pH/ORP). The largest applications in terms of revenues are pH/ORP and conductivity/resistivity.
A major market driver is the demand for finer analyses of process variables from enhanced industrial process quality targets, more stringent environmental compliance standards and technology advances. The market is undergoing a fundamental evolution as suppliers move technologies from the laboratory to the process environment, and as users realize the benefits of real-time data acquisition. Much of the growth is due to increased demand for analytical instruments in the water and wastewater market. The security and consequent safety of public water supplies has become a front-burner issue, with federal funding for the research, development and deployment of systems providing real-time analysis and reporting.
According to Dr. Jesse Yoder, president of Flow Research, "The liquid analytical industry is experiencing a transition from a laboratory environment to an inline/online process control environment. Analytical techniques are evolving at an accelerated pace to meet user demands, including the need for real-time data availability. The opportunities are significant for suppliers who take advantage of these market changes."
The figure below shows projected shipments of analytical instruments worldwide in millions of dollars from 2009 to 2014.