Optical Emission Spectroscopy Market

Optical Emission Spectroscopy Market was valued at USD 1014 million in 2019 and is expected to register a CAGR of 6.4% during the forecast period.

Optical Emission Spectroscopy (OES) is an analytical technique that is used to determine the elemental composition of a broad range of metals ranging from Lithium to Uranium. This technique uses part of the electromagnetic spectrum – the visible spectrum and parts of the ultraviolet spectrum. Metal producing industries such as steel-cooper, aluminum plants, foundries, and other kinds of fabricators in the aviation, automotive, and home appliance sector are using the optical emission spectrometers for process and quality control.

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The global optical emission spectroscopy market is expected to grow at a significant rate over the next six years. This is mainly due to the accelerating adoption of optical emission spectroscopy technique as it is easy-to-use instrumentation and is being increasingly used in several industries such as automotive, aviation, and various other sectors. Moreover, the introduction of new technologies has changed the need of customers across numerous industry verticals. This factor, along with the enforcement of government safety regulations and quality control measures of different industry verticals, is further surging the growth of the market. In addition to this, the emerging trend of spectroscopy technology, particularly in the field of agriculture, pharmaceuticals, chemicals, and the clinical analysis sector, is creating new ways for different mergers and acquisitions in the optical emission spectroscopy market.

The increasing inclination towards outsourcing analytical requirements to third-party service providers is another factor that is bringing new opportunities for the growth of the market in the coming years. The optical emission spectroscopy analysis technology provides various remarkable advantages such as rapid analysis time, easy use, and inherent accuracy. All these benefits are attracting many end-users towards the market. On the other edge of the spectrum, the high initial cost of the OES equipment and the lack of technically skilled workforce to handle OES equipment are the two major factors that are hampering the growth of the market in the coming years.

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Based on detector type, the solid state detector segment is projected to grow at a higher CAGR over the forecast period. This is mainly due to its ability to analyze every wavelength simultaneously in the visible and ultraviolet areas of the electromagnetic spectrum. The solid state detectors are based on charge-coupled device and is widely accepted in various industries, including pharmaceutical, food & beverages, metal, oil & gas, and other industries. These factors are further responsible for the growth of the segment in the market.

On the vertical, the food & beverages segment is estimated to dominate the market over the next six years. The accelerating demand for ICP-OES, which provides multielement capabilities with appropriate precision and accuracy, is one of the major factors that is surging the growth of the segment in the market. The OES technique is used to determine the potential containment elements in the food packaging films.

Based on the offering, the services segment is predicted to grow at a faster CAGR during the forecast period. The rising involvement of third-party service providers, including SGS, Intertek, Bureau Veritas, and other players, is surging the demand of the segment. Furthermore, the increasing usage of portable OES analyzers in the metal producing and processing industries, such as automotive, aerospace & defense, metals and heavy machinery, scrap and recycling industries, and the growing usage of ICP-OES in various sectors such as pharmaceuticals, chemicals, food & beverages, and environmental industries are further energizing the growth of the segment.

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Based on the region, Asia-pacific region is anticipated to lead the market over the next six years. The continuous economic growth of the Asian countries, followed by infrastructural developments, are the two major factors that are responsible for the growth of the market in this region. The APAC region is one of the major markets for several sectors, including automobiles, defense, and consumer electronics. The large investments and business expansion opportunities in many sectors are further energizing the growth of the market.

Various notable players operating in the market include Thermo Fisher Scientific, Bruker, Hitachi High-Tech Analytical Science, Ametek, Shimadzu Corporation, HORIBA, PerkinElmer Inc., Agilent Technologies, Skyray Instrument USA, Inc., and Analytik Jena AG, among others.

The global Optical Emission Spectroscopy Market has been segmented on the basis of offering, form factor, excitation source type, detector type, vertical, and key regions. Based on offering, the market is segmented into equipment and services. Based on form factor, the market is segmented into portable and benchtop. Based on excitation source type, the market is segmented into inductively coupled plasma optical emission spectroscopy and arc/spark optical emission spectroscopy. Based on detector type, the market is segmented into solid-state detector, photomultiplier tube, and hybrid. Based on vertical, the market is segmented into automotive, scrap and recycling, aerospace & defense, metals and heavy machinery, power generation, food & beverages, environmental, infrastructure, pharmaceuticals and life sciences, chemicals, oil & gas, others. 

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Key questions answered in this research report:

• At what pace is Global Optical Emission Spectroscopy Market growing? What will be the growth trend in the future?
• What are the key drivers and restraints in Global Optical Emission Spectroscopy Market? What will be the impact of drivers and restraints in the future?
• What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Optical Emission Spectroscopy Market?
• Which offering generated maximum revenues in 2019 and identify the most promising offering during the forecast period?
• What are the various vertical areas of Global Optical Emission Spectroscopy Market and how they are poised to grow?
• What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Optical Emission Spectroscopy Market by Offering

• • Equipment
  • Services

Global Optical Emission Spectroscopy Market by Form Factor

• • Portable
  • Benchtop

Global Optical Emission Spectroscopy Market by Excitation Source Type

• • Inductively Coupled Plasma Optical Emission Spectroscopy
  • Arc/Spark Optical Emission Spectroscopy Mechanical

Global Optical Emission Spectroscopy Market by Detector Type

• • Solid-State Detector
  • Photomultiplier Tube
  • Hybrid

Global Optical Emission Spectroscopy Market by Vertical

• • Automotive
  • Scrap And Recycling
  • Aerospace & Defense
  • Metals And Heavy Machinery
  • Power Generation
  • Food & Beverages
  • Environmental
  • Infrastructure
  • Pharmaceuticals And Life Sciences
  • Chemicals, Oil & Gas
  • Others

Global Optical Emission Spectroscopy Market by Region

• • North America Global Optical Emission Spectroscopy Market (Option 1: As a part of the free 25% customization)
    • By Offering
    • By Form Factor
    • By Excitation Source Type
    • By Detector Type
    • By Vertical
    • US Market All-Up
    • Canada Market All-Up
  • Europe Optical Emission Spectroscopy Market (Option 2: As a part of the free 25% customization)
    • By Offering
    • By Form Factor
    • By Excitation Source Type
    • By Detector Type
    • By Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Optical Emission Spectroscopy Market (Option 3: As a part of the free 25% customization)
    • By Offering
    • By Form Factor
    • By Excitation Source Type
    • By Detector Type
    • By Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Optical Emission Spectroscopy Market (Option 4: As a part of the free 25% customization)
    • By Offering
    • By Form Factor
    • By Excitation Source Type
    • By Detector Type
    • By Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Optical Emission Spectroscopy Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Thermo Fisher Scientific
  • Bruker
  • Hitachi High-Tech Analytical Science
  • Ametek
  • Shimadzu Corporation
  • HORIBA
  • PerkinElmer Inc.
  • Agilent Technologies
  • Skyray Instrument USA, Inc.
  • Analytik Jena AG