According to the latest research report on "Tunable Diode Laser Analyzer Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to grow from US$ 622.43 million in 2022 to US$ 935.33 million by 2028; it is estimated to grow at a CAGR of 7.0% from 2022 to 2028.
Growing Number of New Power Plants Setups due to Increasing Energy Demands Drives Tunable Diode Laser Analyzer Market Growth
The presence of pressurized, high-temperature, corrosive, combustible, and toxic gases in various plant units and piping can pose significant challenges for conventional technologies. In power plants, piping systems are often exposed to such hazardous gases, including toxic and corrosive gases, at high temperatures and pressures, thereby increasing the risk of potential threats. To mitigate these risks, many power plants are increasingly deploying advanced tunable diode laser analyzers. This trend is anticipated to drive the growth of the tunable diode laser analyzer market, given the growing demand for solutions that can effectively detect and monitor high-temperature, toxic, and corrosive gases in power plant environments.
The global demand for electricity is on the rise, as per the International Energy Agency (IEA) semiannual Electricity Market Report of July 2021. The report indicates a growth rate of 5% in 2021 and 4% in 2022 for the first quarter of 2022, and this trend is expected to continue due to the ongoing economic recovery. The rapid industrialization worldwide has contributed to a significant increase in the demand for energy generation, leading to the establishment of new power plants. Both developing and developed economies are investing heavily in upgrading old power plants and installing modern equipment. As the number of power plant establishments grows, the market for tunable diode laser analyzers will also expand. Therefore, the increasing demand for energy resulting in the global setup of power plants is positively impacting the growth of the tunable diode laser analyzer market.
Across Europe, the impact of COVID-19 varied depending on the country. The lockdown measures imposed in the wake of the pandemic had a negative impact on the tunable diode laser analyzer market in Europe. This was due to the disruption caused in various end-use industries such as construction, energy & power, oil & gas, and other sectors in the region. The revenue streams and operations of automated solution manufacturers in Europe were significantly impacted by the outbreak of COVID-19, which disrupted the growth of the tunable diode laser analyzer market. For instance, ABB Ltd. experienced an increase in backlog orders in 2020 due to the impact of COVID-19 on its operations. Meanwhile, demand from automotive end-users remained low in 2020. However, as several countries in the region begin to reopen their industries and energy demand increases, there is expected to be a resumption in the construction of oil & gas activities and increased development of power plants. For example, in April 2022, Norway's Johan Castberg field development project, which consists of three oil discoveries, resumed, and is expected to continue until 2046. Therefore, the tunable diode laser analyzer market is expected to recover gradually in the coming years and gain momentum during the later forecast period.
Since there is currently a shortage of skilled labor, nonautomotive end users, including fertilizers and metal & machinery, have been adopting automation solutions such as gas analyzers and sensors since mid-2021. This trend has had a positive impact on the growth of the tunable diode laser analyzer market since 2021.
The Environmental Protection Agency (EPA) revised the US Clean Air Act proposal in 1990, with a focus on boilers and incinerators that emit harmful air pollutants from solid waste. Over 200,000 boilers and incinerators in the US are covered under this Act, emitting dangerous air pollutants like mercury, cadmium, and particle pollution. This has resulted in high demand for tunable diode laser analysis in various industrial facilities. As industrialization continues to increase globally, the use of TDLA is expected to expand, thus driving the growth of the tunable diode laser analyzer market.
The tunable diode laser absorption spectroscopy (TDLAS) technology is widely used for measuring combustion gas emissions and reducing greenhouse gas emissions. The growth of the tunable diode laser analyzer market is being driven by supportive government policies such as the National Emission Standards for Hazardous Air Pollutants (NESHAP) for Industrial, Commercial, and Institutional Area Source Boilers in the US, Clean Air Act of US Climate Protection Plan 2050, and Net Zero-emission by 2050 in developing and developed economies. The installation of energy-efficient heating systems and a shift toward zero-emission buildings are further fueling the growth of the tunable diode laser analyzer market.
Key Findings of Study:
The tunable diode laser analyzer market analysis is categorized into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
The tunable diode laser analyzer market in Europe is expected to experience significant growth due to the implementation of strict government regulations aimed at reducing carbon emissions and promoting environmental sustainability. In December 2021, the European government invested approximately US$ 3.20 billion (3 billion) in smart grid R&D to improve power transmission capacity, which is expected to increase the demand for tunable diode laser analyzers in smart grid infrastructure. Additionally, the proposed Climate Law by the European Commission in March 2020 aims to make Europe climate-neutral by 2050. The 2030 National Energy and Climate Plans (NECPs) provide a framework for member states to achieve their climate and energy goals from 2021-2030. These measures create new opportunities for TDLAs, thereby accelerating the growth of the tunable diode laser analyzer market.
The Asia Pacific tunable diode laser analyzer market is divided into India, China, Japan, Australia, and the Rest of Asia Pacific. The implementation of favorable government policies, including "Made in China 2025," "Make in India," Production-linked Incentive (PLI) scheme, and SAMARTH Udyog Bharat 4.0 in emerging countries such as India and China, are contributing to the growth of process automation in various industries. In 2021, the Indian Ministry of Heavy Industries launched the Samarth Udyog Bharat 4.0 initiative to accelerate the adoption of process automation and innovative technologies in the manufacturing sector. This has led to an increase in the number of manufacturing production facilities, resulting in the growth of the tunable diode laser analyzer market share in Asia Pacific.
Furthermore, as the industrial sector expands, there is a corresponding increase in power demand, prompting governments in Asia Pacific to expand their power generation capacities. Tunable diode laser analyzers are used to monitor emission levels at various checkpoints in the power generation process, such as DeNOx and boilers. Therefore, these factors drive the demand for tunable diode laser analyzers in the Asia Pacific region, fueling the growth of the tunable diode laser analyzer market.
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