TDLA market worth US$569 million by 2022

According to the new market research report "Tunable Diode Laser Analyser (TDLA) Market by Methodology (In-Situ and Extractive), Gas Analyser Type (Oxygen (O₂), Ammonia (NH₃), COX, Moisture (H₂O, C_xH_x, HX), Industry (Oil and Gas, Cement, Power), and Geography - Global Forecast to 2022" , published by MarketsandMarkets, the total market is expected to reach US$569.2 million by 2022, at a CAGR of 10.1% between 2016 and 2022.

The major driving factor for the growth of TDLA market are increasing industrialisation, increasing industry practice of replacement of TDLA with traditional analyser, and growing process automation in various industries.

The oil and gas industry would hold largest market share during the forecast period

The oil and gas industry is expected to hold the largest share of the TDLA market, while the chemical and pharmaceutical industry is expected to grow at a significant rate between 2016 and 2022 in the TDLA market. In the oil and gas industry, the TDLA is used for the measurement of number of gases at various checkpoints such as coker unit, reformer unit, alkalination unit, fluid catalytic cracking unit, and others to increase the process safety and to reduce the maintenance cost. In the current situation, the presence of more than 600 oil refineries in the global market and demand to reduce the maintenance and operational cost is expected to spur the growth of the TDLA market in this industry.

In-situ-based TDLA plays a key role in the TDLA market

The TDLA market segmented on the basis of methodology covers in-situ-and extractive-based TDLA. Both types of methodology have its own advantages over each other, however, low price of in-situ-based TDLA as compared with extractive-based TDLA accounted for the largest market share of more than 70% in 2015.

Adapted from press release by Francesca Brindle

Read the article online at: https://www.hydrocarbonengineering.com/product-news/31052016/tdla-market-report-from-marketsandmarkets-3410/