Global Mercury Analyzer market is projected to grow at a CAGR of 7.25% during the forecast period, reaching a total market size of US$95.397 million in 2025 from US$62.689 million in 2019. Mercury analyzers are used for analyzing mercury in the environment. Mercury has the ability to get absorbed on most surfaces. The mercury analyzer is used for analyzing mercury in sample form (solid, liquid, or gas), plastic, food, living body samples, factory effluent, environmental water, drink water, sewer, environmental air, working environment, LPG, etc. The market of mercury analyzer is driving due to a robust increase in advancement in science & technology which is driving the demand for cost-efficient mercury analyzers across end-use industries.
Growing agriculture, forestry and fishing industry is also augmenting the demand for mercury analyzers. According to the World Bank data, Agriculture, Forestry, and Fishery do add significant value in the market; in 2008 it contributed US$ 2.237 trillion and it went on to increase to US$ 3.358 trillion in 2018. This industry can be heavily impacted if they get affected by mercury in the environment. The release of mercury in the environment by industries will directly lead to a harmful impact on the survival of fish and wildlife which, in turn, will bolster the demand for mercury analyzers.
The imposition of stringent environmental regulations by governments and international organizations to limit the discharge of mercury and other toxic compounds into the environment is further contributing significantly to the market growth of mercury analyzers globally. Advancement in the biotechnology sector is also boosting the market growth of mercury analyzers. This is because mercury analyzers are increasingly being used in the biology field for the determination of mercury in urine, hair, saliva, and blood. The market of mercury analyzer is also majorly driven by its availability in a wide range including portable mercury trackers, mercury vapor monitors, mercury lab analyzers, online mercury analyzers, and ultra-tracer mercury detectors.
Global Mercury Analyzer market is segmented by measurement method, end-user industry, and geography. Segmentation on the basis of the measurement method is done as thermal decomposition and reducing vaporization. By the end-user industry, the global mercury analyzer market is classified into healthcare, energy and power, food and beverages, chemical, and others.
By measurement method, thermal decomposition has a significant share in the market
By measurement method, the thermal decomposition segment holds significant market share. The thermal decomposition is used when the concentration range of a measuring object is wide (ppb to ppm order etc.) as it is easy to generate a memory effect, thus making thermal decomposition more suitable. The market for this measurement method is rising with its wide applications for organic and inorganic matter or for composite material. Reducing Vaporization mercury analyzers are used for measuring many amounts of samples at once, as it is more suitable for concentration measurement.
Energy and Power sector one of the major market for mercury analyzer vendors
Mercury analyzers are majorly used for monitoring the environment due to the growing number of regulations regarding environment protection and active participation by various countries towards environmental sustainability. Growing global electricity consumption is leading to a rise in the mercury level in the environment.
According to the World Bank Data, electric power consumption has increased from 2578.06 thousand KWH in 2004 to 3132.15 KWH in 2014. As the electric utility industry is the largest mercury emitter, this rising electricity consumption will correspondingly result in an increase in the release of mercury in the environment, thus driving the market growth of mercury analyzers worldwide.
North America holds a major market share
Regionally, the global mercury analyzer market is classified into North America, South America, Europe, Middle East and Africa, and the Asia Pacific. Growing industries such as the food and beverage and chemical industry in countries like the U.S. and Canada is fueling the market growth of mercury analyzers in this region. Moreover, strict environmental regulations that are needed to be followed by industries is further propelling the market growth across this region. Asia Pacific region is expected to be the fastest-growing regional market owing to the rising number of industries and growing awareness regarding environmental pollution and the effects of mercury on health. This is further increasing the sustainable transformation of environmental policies and increasing various regulations that are being implemented by countries for environmental protection, thereby positively impacting the market growth in this region. In July 2019, Japan’s Ministry of the Environment, in collaboration with the United Nations Environment Programme, announced a new project to protect the environment and human health from severe impacts of mercury, investing up to US$3 million. The project aims to establish a regional mercury monitoring laboratory network in Asia Pacific region while providing for capacity building and training around the region.
Market Players and Competitive Intelligence
The competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry participants profiled as part of this section include Teledyne Leeman Labs, Tekran Instruments Corporation, Thermo Fisher Scientific Inc., PerkinElmer, Inc., Milestone Srl, Analytik Jena AG, and Hitachi High-Technologies Corporation among others.