Electrochemical instruments are used to measure and monitor different parameters such as electrodeposition, corrosion, concentration of ions in the electrolyte, etc. Increasing demand from food industry and research laboratories and institutes is a major factor driving growth of the global electrochemical instruments market. High costs of instruments and commoditization are major factors restraining growth of the global electrochemical instruments market.
The global electrochemical instruments market is segmented on the basis of product type, end-user, and region. On the basis of product type, the global market is segmented into electrochemical meters, titrators, ion chromatography, and potentiostat/galvanostat. The electrochemical meter segment accounts for highest share in terms of revenue and is expected to witness highest growth in next 10 years.
On the basis of end-user, the global market is segmented into environmental testing industry, biotechnology and pharmaceutical industries, food and agriculture industries, and academic research institutes. The environmental testing industry segment accounts for highest share in terms of revenue and is expected to witness highest growth over the forecast period.
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On the basis of region, the target market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Europe accounts for significant share in terms of revenue in the global market. The markets in North America is expected to register significant growth in next 10 years. The market in Asia Pacific is expected to witness fastest growth in the global market. The market in Latin America is projected to witness moderate growth in coming years.
Some of the key players in the global electrochemical instruments market are Metrohm AG, HANNA Instruments Inc., Yokogawa Electric Corporation, AMETEK.Inc., CH Instruments, Inc., Danaher Corporation, Thermo Fisher Scientific Inc., Mettler-Toledo International Inc., Endress+Hauser AG, Xylem Inc., DKK-TOA Corporation, and Horiba Ltd.