The mercury analyzer market is expected to grow from USD 224.6 Million in 2018 to USD 315.1 Million by 2023, at a CAGR of 7.0% during the forecast period. The market is mainly driven by factors such as an increase in the number of regulations pertaining to environment protection, active participation of government and regulatory bodies to monitor environmental conditions, and increase in government funding for pollution monitoring and control. However, growing public awareness about healthcare implications of environmental pollution and rising focus on ensuring the quality of food products are also expected to boost the growth of the market. In addition, increase in industrial activities in emerging markets is expected to offer high-growth opportunities for players operating in the market.
The mercury analyzer market has been segmented on the basis of type into cold vapor atomic absorption and cold vapor atomic fluorescence. Cold vapor atomic absorption (CVAA) is expected to lead the market during the forecast period owing to its wide acceptance across various industries, such as mining, cement, and food, for determining the total mercury content in a given sample. CVAF is expected to grow with a highest rate during the forecast period.
Moreover, the market is segmented on the basis of end use into environment monitoring (air, water, and soil); food; oil, gas, & petrochemical; healthcare; and others. Among all the end uses, environment monitoring is leading in terms of market share as well as expected to grow at the highest rate. Stringent government regulation to monitor and control mercury emission into atmosphere is the major factor driving the growth of this segment during the forecast period.
The mercury analyzer market is moderately competitive with limited global and local market players operating into the market. The key players operating in the market covered in this report are Teledyne Leeman Labs (US), Tekran (Canada), Thermo Fisher (US), PerkinElmer (US), Milestone (US), Analytik Jena (Germany), Nippon Instruments (Japan), Hitachi High-Technologies (Japan), Mercury Instruments (Germany), and Lumex (Canada), among others.
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