Optical Emission Spectroscopy Market synopsis
The optical emission spectroscopy industry is expected to grow substantially during the forecast period owing to advent of new technologies that has led to change in customer requirements across various end-use verticals and enforcement of government safety regulations and quality control mandates for different industries.
By detector type, the market is segmented into Solid-State Detector, Photomultiplier Tube, and Hybrid. The solid-state detector market segment is expected to dominate the market during the forecast period owing to their ability to analyze various wavelength simultaneously in both ultra-voilet and visible electromagnetic spectrum. However, hybrid detector based OES equipment segment is anticipated to register the highest CAGR during the forecast period.
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By Source type, the market is segmented into inductively coupled plasma and spark. The inductively coupled plasma segment is expected to dominate the market during the forecast period. By component, the market is segmented into equipment and services. The equipment segment is expected to dominate the market owing to the high cost and wide adoption across varied end-use verticals.
By vertical, the market is segmented into automotive, scrap and recycling, metals and mining, aerospace & defense, energy & power, infrastructure, food & beverages, and others. The food & beverage segment is expected to register the highest CAGR during the forecast period. The food & beverage segment is witnessing high demand for strong demand for ICP—optical emission spectroscopy that offers multi-element capabilities with high precision and accuracy.
The major players constantly focus on growth strategies such as strategic partnerships, mergers, acquisitions, and product launch to enhance their product offerings and expand their market reach. For instance, in 2017, PerkinElmer, Inc launched a new inductively coupled plasma optical emission spectrometer— Avio 500. This spectrometer provides simultaneous background correction for faster sample-to-sample time and improved data accuracy, higher matrix tolerance, and the lowest argon consumption.
Optical Emission Spectroscopy Market Key players
The prominent players in the optical emission spectroscopy market are Thermo Fisher Scientific Inc. (US), Horiba, Ltd. (Japan), Hitachi High-Technologies Corporation (Japan), Bruker Corporation (US), Shimadzu Corporation (Japan), Ametek Inc. (US), Skyray Instrument Inc. (US), Teledyne Leeman Labs, Inc. (US), PerkinElmer, Inc. (US), Agilent Technologies (US), Analytik Jena (Germany), Focused Photonics Inc. (China), GBC Scientific Equipment Pty Ltd (Australia), and GNR Analytical Instruments Group (Italy). The leading service providers in the market are SGS SA (Switzerland), Bureau Veritas SA (France), Intertek Group plc (UK), TUV SUD (Germany), Element Materials Technology Ltd. (Netherland), and TUV Rheinland (Germany).
Optical Emission Spectroscopy Market Competitive Analysis
The optical emission spectroscopy market has witnessed the rising demand across the globe owing to technological advancement and added functionality in the inductively coupled plasma optical emission spectrometer. Key players to further strenghten their market position have opted for partnerships and new product launches as their key organic growth strategy. In 2019, Spectro Analytical Instruments launched a inductively coupled plasma optical emission spectrometry analyzer— Spectrogreen that uses dual side-on interface (DSOI) technology.
Optical Emission Spectroscopy Market Segmentation
Optical emission spectroscopy market is segmented based on detector, source type, component, vertical, and region.
By detector, the market is segregated into solid-state detector, photomultiplier tube, and hybrid.
On the basis of source type, the market is segmented inductively coupled plasma and spark.
On the basis of component, the market is segmented equipment and services.
By end-user, the market is segmented into automotive, scrap and recycling, metals and mining, aerospace & defense, energy & power, infrastructure, food & beverages, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the World.
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Optical Emission Spectroscopy Market Regional analysis
The global market for optical emission spectroscopy market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of optical emission spectroscopy market is done for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the optical emission spectroscopy market from 2018 to 2023 owing to the continuous growth in terms of infrastructural developments and the consumer electronics, automobiles, and defense industry that boost the demand for optical emission spectroscopy equipment in the region.
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