Market outlook of the dissolved oxygen meter market
Technavio’s research analyst predicts the global dissolved oxygen meter market to grow at a CAGR of over 6% during the forecast period. The major factor contributing to this growth is the rising importance of environmental monitoring over the recent years. With the primary end-user industries such as environmental sciences and aquaculture expected to grow steadily over the next five years, the demand for dissolved oxygen meters is expected to rise over the forecast period.
Recently, researchers have been experimenting with animal-borne dissolved oxygen meters, which includes deploying animals such as elephant seals with dissolved oxygen sensors that allow real-time remote tracking of dissolved oxygen concentration of these water bodies with high accuracy. Although, these experiments have not been implemented on a large scale, the results generated from the trials conducted until 2014 have been promising. Therefore, the implementation of animal-borne dissolved oxygen meters is likely to gain traction in the future and simultaneously boost the market growth.
Segmentation by technology of the dissolved oxygen meter market
- Optical sensor
- Electrochemical sensors
The majority of the dissolved oxygen meters sold in 2015 used optical sensors with over 61% of the revenue being contributed by dissolved oxygen meters employing optical sensors. The growth of this segment is supported by the fact that dissolved oxygen meters that employ optical sensors are capable of producing more accurate results compared to generic dissolved oxygen meters using electrochemical sensors.
End-user segmentation and analysis of the dissolved oxygen meter market
- Environmental sciences
The largest contributor to the revenue of the global dissolved oxygen meter market in 2015 was environmental sciences, accounting for over 33% of the overall market revenue. This is mainly due to the growing emphasis on environmental protection and the initiatives taken by several international bodies such as the OP Environmental Monitoring Committee toward monitoring of water quality.
Geographical segmentation and analysis of the dissolved oxygen meter market
The dissolved oxygen meter in the Americas was the largest contributor to the revenue of the overall market in 2015, accounting for over 36% of the overall market. However, the APAC region is expected to grow the fastest among the three segments in the next five years due to the high prevalence of water treatment plants and pharmaceutical industries in this region.
Competitive landscape and key vendors
The global dissolved oxygen meter market marks the presence of several vendors with strong global presence. However, domestic players hold a considerable share in their respective regions, making it difficult for the foreign players to penetrate the market. And in countries where there are no dominant domestic players, the market is controlled by North American manufacturers.
The leading vendors in the market are -
- Extech Instruments
- Thermo Fisher
The other prominent vendors in the market include Atlas Scientific, Hach Instruments, Hannah Instruments, HORIBA, Mettler Toledo, Milwaukee Instruments, and Techne. Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global dissolved oxygen meter market?
- What are the key market trends impacting the growth of the global dissolved oxygen meter market?
- What are the challenges to market growth?
- Who are the key vendors in the global dissolved oxygen meter market?
- What are the market opportunities and threats faced by the vendors in the global dissolved oxygen meter market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global dissolved oxygen meter market?
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Technavio Announces the Publication of its Research Report – Global Dissolved Oxygen Meter 2016-2020
Technavio recognizes the following companies as the key players in the Global Dissolved Oxygen Meter: Extech Instruments, Oakton, Thermo Fisher, Brands and YSI
Other Prominent Vendors in the market are: Atlas Scientific, Hach Instruments, Hannah Instruments, HORIBA, Mettler Toledo, Milwaukee Instruments, and Techne.
Commenting on the report, an analyst from Technavio’s team said: “The possible application of dissolved oxygen sensors in animal-borne dissolved oxygen instruments is an area that is gaining popularity and is set to grow rapidly over the forecast period.”
According to the report, the gaining importance of environmental monitoring is one of the key growth drivers for the global dissolved oxygen meter market. With the primary end-user industries such as environmental sciences and aquaculture expected to grow steadily during the next five years, the demand for dissolved oxygen meters is expected to rise over the forecast period.
Further, the report states that one of the biggest concerns in the dissolved oxygen market is the high cost of the device given its limited functionality.
Extech Instruments, Oakton, Thermo Fisher, Brands, YSI, Atlas Scientific, Hach Instruments, Hannah Instruments, HORIBA, Mettler Toledo, Milwaukee Instruments, Techne.