Density Meter Market
In 2018, the global density meter market stood at USD 886 Mn. The figure is expected to grow to USD 1,178 Mn by the 2024, reflecting a CAGR of 5.1% between 2018 and 2024, assert MRFR. With industrial processes undergoing rapid industrialization and automation, emphasis on accuracy and precision growth stronger.
The modernization of manufacturing processes has led to integration of a wide range of new-age technologies including density meters. Use of analytical instruments has increased significantly in manufacturing owing to their advantages such as greater accuracy. Such instruments allow a movement of the production line.
Density meter is a special type of analytical instrument, which finds density measurement application in gaseous, semi-liquid and liquid substance. Industries such as food & beverage, petrochemical, and chemicals are major end-user of density meters. These meters are used quality control purpose and research purpose.
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Advances in technology has helped improve the efficacy of the product. Latest versions of density meter can be customized as per specific application requirements. Moreover, introduction of density meters that portable or have benchtop specifications has created further application scope. These meters are increasingly used in both small scale and large-scale industries.
The global density meter market is benefiting from increased regulations associated with manufacturing quality. In addition, the rise of industry 4.0 and adoption of smart factories solution is likely to provide an impetus to the market during the forecast period.
Global Density Meter Market: Segmental Analysis
The segmental analysis of the market has been conducted based on application, type and region.
On the basis of application, key segments include chemicals & material science, electronics, power & utilities, food & beverage industry, healthcare/life science & pharmaceutical, education/research and others. On the basis of type, key segments include portable, modules and benchtop.
Global Density Meter Market: Regional Analysis
In the report, the market has been covered across the Middle East, South America, Africa, North America, Asia Pacific and Europe. Adoption of density meter is expected to remain strong in Asia Pacific during the forecast period. This makes APAC a key destination for market players. In terms of value, APAC commands a significant share of the market. Exponential growth of industries in countries such as India, China and the ASEAN belt can be attributed the rising demand for density meter in the region. The APAC density meter market is forecast to witness an impressive growth during the projected future. Development of smart factories, economic growth, increased focus on domestic manufacturing are some of the other forces propelling the market in APAC
North America is also expected to a major market for density meter during the forecast period. A healthy presence of end-user industries in the region is supporting the market growth. In terms of ranking, North America will remain in the higher echelons of the global density market during the forecast period.
Global Density Meter Market: Competition Analysis
MRFR in its report has profiled some of the top-notch companies namely VWR International LLC (US), Agilent Technologies Inc (US), A.KRÜSS Optronic GmbH (Germany), Koehler Instrument Company Inc. (US), Rhosonics Analytical B.V. (Netherlands), Integrated Sensing Systems (US), Ultimo Measurement (US), Anton Paar GmbH (Austria), TA Instruments Inc (US), Mettler Toledo (US), Ametek Inc. (US), Emerson Electric Co (US), Schmidt + Haensch GmbH & Co (Germany), Thermo Fisher Scientific (US), Berthold Technologies GmbH & Co. KG (Germany), Toshiba Infrastructure Systems & Solutions Corporation (Japan), Storage Battery Systems LLC (US), Campbell/Harris Security Equipment Company (US), Sas R&D Services Inc. (US), GPS Instrumentation Ltd (UK), Yokogawa Electric Corporation (Japan), Red Meters (US), Biochrom Ltd (UK), Eagle Eye Power Solutions LLC (US), Markland Specialty Engineering Ltd (Canada), CSC Scientific Company Inc. (US), Meidensha Corporation (Japan), Laxco Incorporated (US) and Kyoto Electronics Manufacturing Co Ltd (Japan).
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