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Increasing Number of New Power Plants Setups due to Rising Energy Demands Drives Tunable Diode Laser Analyzer Market Growth

NEW YORK, UNITED STATES, March 30, 2023 /EINPresswire.com/ -- 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$ 590.89 million in 2021 to US$ 935.33 million by 2028; it is estimated to grow at a CAGR of 7.0% from 2022 to 2028.

Report Coverage - Tunable Diode Laser Analyzer Market

Report Coverage Details
Market Size Value in US$ 590.89 million in 2021
Market Size Value by US$ 935.33 million by 2028
Growth rate CAGR of 7.0% from 2022 to 2028.
Forecast Period 2022-2028
Base Year 2022
No. of Pages 183
No. of Tables 83
No. of Charts & Figures 88
Historical data available Yes
Segments Covered Measurement Type, Gas Analyzer Type, and Industry Application
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Various plant units and piping may contain pressurized, high-temperature, corrosive, combustible, and toxic gases, which may be problematic for traditional technologies. In power plants, the piping systems may be exposed to high temperatures; toxic gases; and corrosive and pressurized toxic gases, which may pose a threat to the power plants. Thus, advanced tunable diode laser analyzers are installed at many power plants to overcome such threats. With rising demand for high temperatures; toxic gases; and corrosive and pressurized toxic gases released from power plants are projected to support the growth of the tunable diode laser analyzer market.

As per International Energy Agency (IEA) semiannual Electricity Market Report, July 2021, the global electricity demand is growing for instance it was 5% in 2021 and 4% in 2022 in the first quarter of 2022 and it is expected to increase, which is driven by the economic recovery. With the rapid pace of industrialization globally, there has been a significant rise in demand for energy generation, which can be meth with the new power plant establishments. Many developing and developed economies invest massive amounts in upgrading old power plants and installing modern equipment. With an increasing number of power plant installments, the tunable diode laser analyzer market will expand. As the number of power plants increases, the demand for tunable diode laser analyzers will also increase. Thus, rising energy demands are resulting in the new global setup of power plants, which positively impacts tunable diode laser analyzer market growth.

Tunable diode laser absorption spectroscopy (TDLAS) has been widely used to reduce greenhouse gas emissions and measure combustion gas emissions. Supportive government policies such as the National Emission Standards for Hazardous Air Pollutants (NESHAP) for Industrial, Commercial, and Institutional Area Source Boilers of the US; Clean Air Act of US Climate Protection Plan 2050; and Net Zero-emission by 2050 in developing and developing economies are driving the growth of the tunable diode laser analyzer market. The introduction of policies that encourage the installation of energy-efficient heating systems and a shift in the trend toward zero-emission buildings are further supporting the tunable diode laser analyzer market growth.

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Key Findings of Study:

Europe holds a significant share in the tunable diode laser analyzer market size owing to the stringent government regulations that limit carbon footprint and maintain the environmental sustainability. In December 2021, the European government invested around US$ 3.20 billion (€3 billion) in smart grid R&D to improve the power transmission capacity. This investment will propel the demand for tunable diode laser analyzers in smart grid infrastructure in Europe, which in turn will fuel the growth of the tunable diode laser analyzer market. The European Commission proposed a Climate Law in March 2020 with a long-term goal of becoming climate-neutral by 2050. The 2030 National Energy and Climate Plans (NECPs) are meant to provide a framework for European countries or member states by outlining their policies, and climate and energy goals over the span of 2021–2030. Acts for protecting the environment from harmful gases are expected to create lucrative opportunities for TDLA, thus accelerating the tunable diode laser analyzer market.

Tunable Diode Laser Analyzer Market: Competitive Landscape and Key Developments

Analog Devices, Inc.; Infineon Technologies AG; Diodes Incorporated; Microchip Technology Inc.; Skyworks Solutions; On Semiconductor; Renesas Electronics Corporation; and Texas Instruments Incorporated are among the tunable diode laser analyzer market players profiled during the reported study. In addition, several other key companies were studied and analyzed to get a holistic view of the global tunable diode laser analyzer market and its ecosystem.

In April 2022, Renesas Electronics Corporation introduced the first tunable diode laser analyzers and multiplexers that meet stringent PCIe Gen6 specifications.

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