The mercury analyzer market is mainly driven by factors such as an increase in the number of regulations pertaining to environment protection, active participation of government and regulatory bodies to monitor environmental conditions, and increase in government funding for pollution monitoring and control. However, growing public awareness about healthcare implications of environmental pollution and rising focus on ensuring the quality of food products are also expected to boost the growth of the mercury analyzer market.
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In addition, increase in industrial activities in emerging markets is expected to offer high-growth opportunities for players operating in the mercury analyzer industry. However, the high cost of mass spectrometry systems for mercury analysis and high export barriers for environmental technologies in emerging markets are expected to restrain the growth of the mercury analyzer market during the forecast period. The mercury analyzer market is expected to grow from USD 224.6 million in 2018 to USD 315.1 million by 2023, at a CAGR of 7.0% between 2018 and 2023.
The mercury analyzer market has been segmented on the basis of type, end use, and geography. Mercury analyzers are available in 2 types—cold vapor atomic absorption and cold vapor atomic fluorescence. The CVAA being the traditional and most used method of mercury analysis is widely used for various end uses to determine the total mercury content in a given sample. Owing to its ease of operation and widespread acceptance, CVAA mercury analyzer is expected to lead the mercury analyzer market during the forecast period.
Mercury analyzer end use includes environment monitoring; food; oil, gas, & petrochemical; healthcare; and others. Among these end uses, the market for environment monitoring is expected to grow at the highest CAGR during the forecast period. Mercury analyzers are used in environmental monitoring applications for sampling air, water, and soil. There is a high requirement for environmental monitoring and testing of various contaminants, with a primary focus on reducing emissions and preventing humans and environment from toxic chemicals exposure. Stringent government regulation to monitor and control mercury emission into atmosphere is the major factor driving the growth of this segment during the forecast period.
The mercury analyzer market has been broadly classified on the basis of regions into North America, Europe, APAC, and RoW. APAC is estimated to be the highest growing market for mercury analyzers due to increased mercury emission from growing industrialization and stringent regulations governing mercury emission and control. The increasing regulations pertaining to environment protection, along with active participation of government and regulatory bodies to monitor environmental conditions, and increased government funding for mercury pollution monitoring and control are the major factors contributing to the market growth in this region.
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