The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Moisture Analyzer Market Share. The growth sectors of the Moisture Analyzer Market Share are identified with precision for a better growth perspective.
As per a detailed analysis by Market Research Future (MRFR), the global moisture analyzer market is anticipated to garner USD 1.5 billion, registering a CAGR of 3.53% during the forecast period (2018-2023).
The surging demand for in-line moisture analyzers is anticipated to favor the market growth across the globe. Also acknowledged as moisture meters, moisture analyzer is a device which is extensively used to measure the content of moisture at a high level as well as trace amounts in solid, liquid, and gas medium. Moisture analyzer finds application in pharmaceuticals, semiconductor, beverage, and others.
Market Potential and Pitfalls
The moisture analyzer market has witnessed a tectonic surge in the past few years due to factors like rising process automation, especially in the developing economies. The advancing technologies in heat-based moisture analyzing and surging demand for in-line moisture analyzers are some of the other top factors encouraging the market growth over the years. The key driver impacting the moisture analyzer market positively is the burgeoning demand along with the extensive adoption in the Asia Pacific region. Governments across the globe are imposing strict norms to retain the high standard of edible products by maintaining the adequate moisture content in the product. This is further considered to assist in the expansion of the market in the F&B sector. Moreover, the rising awareness for maintenance and protection of the industrial devices for improved efficiency are fueling the market growth during the review period.
On the contrary, the dearth of skilled staff for developing and operating moisture analyzers is considered to restrict the growth of the market across the globe. On a brighter note, the high adoption of automation for manufacturing products across industry verticals has resulted in the increased demand for moisture analyzers.
Global Moisture Analyzer Market: Segmental Analysis
The global moisture analyzer market has been segmented on the basis of type, technique, and application.
By mode of type, the global moisture analyzer market comprises handheld, inline, and desktop, moisture analyzer. Among these, the inline moisture analyzer segment is presumed to demonstrate the highest CAGR due to the rising process automation across industry verticals.
The technique segment of moisture analyzer market constitutes of loss-on-drying, Karl Fischer titration, microwave, capacitance, near-infrared, drying oven, and radio frequency. Among these, the near-infrared segment is likely to demonstrate the highest CAGR during the review period due to its capability to measure the moisture content during the manufacturing process.
Based on the application segment, the moisture analyzer market comprises constructions, plastic & polymer, food & beverage, agriculture, pharmaceuticals, fabrics & textiles, and others. Among these, the food & beverage segment dominates the application segment due to strict government norms regarding the quality of food. The surging need to maintain the certain moisture content in packaged edible product triggers the demand for moisture meters by the F&B sector.
Geographically, the moisture analyzer market span across regions, namely, Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Considering the global scenario, the Asia Pacific region is considered to demonstrate the highest CAGR during the review period. The regional growth can be ascribed to the ongoing industrial development, surging concerns related to the environment, steady pace of process automation, and an increasing number of government programs in order to encourage green initiatives especially in countries like China and India. The rapid development in the pharmaceutical sectors is also creating high demand for moisture analyzers. The rising investments in the chemical sector by the governments of China and India are likely to generate growth avenues for the market.
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