Liquid Analytical Instrument Market Size, Share & Trends Analysis Report By Instrument, By Application, By End-use (Chemical, Energy, Food & Beverage, Healthcare & Biotechnology), By Region, And Segment Forecasts, 2023 - 2030

Liquid Analytical Instrument Market Size & Trends

The global liquid analytical instrument market size was valued at USD 446.2 million in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. Increasing demand for liquid analyzers to lower processing costs and reduce non-compliant waste is expected to drive the market over the forecast period. The market is anticipated to witness substantial growth over the forecast period on account of rising product demand for inspection of water quality in the water and wastewater management industry. Moreover, stringent environmental and government regulations are driving the adoption of liquid analytical instruments in a number of end-use industries.

Analyzers are primarily used for measuring the chemical composition of fluids and evaluating the characteristics of liquids. They are used in several applications such as measurement of dissolved oxygen, oxidation-reduction potential, the potential of hydrogen, and conductivity/resistivity of liquids. These highly accurate instruments are also used in the food and beverage industry for the maintenance of water quality standards.

The analyzers are largely used in biotechnology applications for ensuring optimal yield of chemical and pharmaceutical compounds in various processes of fermentation. Moreover, there has been an increase in the adoption of automated liquid analytical instruments in oil and gas operations, a factor that is expected to drive the market over the coming years.

An increase in the number of process analyzer installations in manufacturing plants creates a subsequent requirement for skilled workers to operate this equipment. However, a shortage of skilled labor results in non-operational systems as well as high maintenance costs of these analyzers. Regional and local manufacturers find it challenging to compete with established players as analytical equipment are manufactured with specific electronics that are highly-priced.

Instrument Insights

The pH/ORP analyzers segment accounted for the largest revenue share of 30.9% in 2022. The growth of this segment can be primarily attributed to the rising need for pH/ORP analyzers for accurate measurement of the hardness of the water. These analyzers display the measurement and transmission rating of pH, ORP, or Ion-Selective Electrode (ISE) in several applications in the water and wastewater sector. These analyzers are widely used owing to their easy-to-install, cost-effective, and maintenance-free capabilities.

The infrared analyzers segment is expected to grow at the fastest CAGR of 6.6% during the forecast period owing to its high stability and reliability features for a wide range of laboratory and process applications. These analyzers are mainly designed for online process monitoring and operate either in near-infrared or mid-infrared spectral regions.

Application Insights

The drug discovery segment held the largest revenue share of 23.7% in 2022. Liquid analytical instruments play a crucial role in various stages of drug discovery, aiding pharmaceutical researchers in gaining valuable insights into the chemical and biological properties of potential drug candidates. These instruments are essential for conducting rigorous analyses and obtaining precise data, which are fundamental for decision-making throughout the drug development process.

The wastewater management segment is expected to grow at the fastest CAGR of 6.2% over the forecast period. This can be attributed to an increased focus on environmental protection, coupled with rising need for optimization, safety, and real-time data monitoring of water purification processes. Liquid analyzers also offer aeration control in wastewater treatment plants.

Rising level of water contamination is driving demand for liquid analytical instruments, which are widely used for water purification. These instruments accurately and continuously measure water quality, in addition to providing real-time data on water purification process conditions. It can be used to improve efficiency, safeguard quality, and optimize performance. In addition, new technologies are being integrated into these analyzers to enhance the precision of the purification process.

End-Use Insights

The food & beverage segment accounted for the largest revenue share of 22.1% in 2022. The increasing volume of food product imports from different countries is escalating the need for cautiously monitoring food products for chemical contaminants. This is subsequently driving demand for liquid analytical instruments in the food and beverage industry for the monitoring and testing of food safety, nutrition level, and quality of various products.

The healthcare & biotechnology segment is expected to register the fastest CAGR of 6.5% over the forecast period. Liquid analytical instruments are extensively used in the biotechnology industry for ensuring an optimal yield in various procedures of fermentation and for determining the metabolism of microorganisms. These analyzers are widely used in healthcare and biotechnology fields owing to their benefits such as high accuracy, reliability, and stability.

Regional Insights

Europe dominated the market and accounted for the largest revenue share of 30.5% in 2022. Europe's robust pharmaceutical and biotechnology industries have driven the demand for liquid analytical instruments for drug discovery, development, quality control, and research applications. The need for high-throughput screening, precision medicine, and personalized therapies has further propelled market growth. Also, increasingly stringent regulations pertaining to product quality, safety, and environmental standards have led to a higher demand for liquid analytical instruments to ensure compliance with regulatory guidelines.

Asia Pacific is expected to grow at a CAGR of 6.1% during the forecast period owing to growth of the pharmaceutical industry in the region. Implementation of numerous government mandates and regulations aimed at ensuring quality and safety of food and pharmaceutical products is expected to fuel market growth.

Key Companies & Market Share Insights

Key players in the liquid analytical instrument market are investing in new product development, undertaking research and development activities, and focusing on product portfolio expansion to capture a large market share. Established players are further focusing on offering cost-effective and reliable liquid analytical instruments.

Some of the major participants in the global liquid analytical instrument market include:

• ABB

• Analytical Systems Keco

• Electro-Chemical Devices, Inc.

• Schneider Electric

• Emerson Electric Co.

• Endress-Hauser Management AG

• Honeywell International Inc.

• METTLER TOLEDO

• Teledyne Technologies Incorporated

• Yokogawa Electric Corporation

Recent Development

• In March 2023, Waters Corporation introduced the Alliance iS, its next-generation intelligent high performance liquid chromatography (HPLC) system, specially designed to enhance compliance by incorporating advanced proactive error detection, troubleshooting capabilities, and user-friendly features. The platform streamlines the process of obtaining accurate and precise measurements while significantly reducing common errors by up to 40% by combining the Alliance iS HPLC system with Waters' eConnect HPLC Columns and Empower Chromatography Software. This breakthrough technology empowers QC laboratories to consistently achieve their quality, safety, compliance, and timely product delivery objectives.

• In November 2022, METTLER TOLEDO introduced the latest iteration of its Easy Vis, a cutting-edge device designed to analyze liquid samples for optical spectrum, color, and water parameters. This compact, notebook-sized instrument possesses the remarkable capability to perform three distinct measuring tasks, making it a potential replacement for three separate instruments: a spectrophotometer, a colorimeter, and water testing methods like titration. Notably, the Easy Vis features workflow guidance, simplifying its operation even for untrained personnel and significantly reducing the time required for training.

• In January 2020, Analytical Systems Keco introduced the 205L Laboratory H2S in liquids analyzer, designed to accurately measure hydrogen sulfide levels in various liquids, including fuel oil, crude oil, naphtha, diesel, gasoline, and water. This analyzer is essential for ensuring the removal of H2S from crude oil, condensate, and other liquid products before transportation or storage, as it significantly reduces the risk of health and safety issues and facilitates product quality control.

Liquid Analytical Instrument Market Report Scope

Global Liquid Analytical Instrument Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global liquid analytical instrument market report based on instrument, end-use, application, and region:

• Instrument Outlook (Revenue, USD Million, 2018 - 2030)

  • Conductivity & Resistivity Analyzers

  • Infrared Analyzers

  • Oxygen Analyzers

  • pH/ORP Analyzers

  • Turbidity Analyzers

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Chemical

  • Energy

  • Healthcare & Biotechnology

  • Oil & Gas

  • Pharmaceutical

  • Food & Beverage

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Liquid Chemistry Monitoring

  • Drug Discovery

  • Wastewater Management

  • Water Purification

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Thailand

    • Indonesia

    • Malaysia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East and Africa

    • Saudi Arabia

    • UAE

    • South Africa