Global Optical Emission Spectroscopy Market to Reach USD 1,140.83 Million by 2031 | CAGR of 6.1%
Category : Semiconductor And Electronics | Published Date : Nov 2024 | Type : Press Release
Optical Emission Spectroscopy Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Optical Emission Spectroscopy Market size was valued at USD 708.93 million in 2023 and is projected to grow at a CAGR of 6.1%, reaching USD 1,140.83 million by 2031. Optical emission spectroscopy (OES) is a powerful analytical technique used to determine the elemental composition of various metals through arc and spark excitation methods. OES is widely utilized across industries such as metal manufacturing, automotive, and environmental analysis due to its rapid analysis time, high accuracy, and versatility.
The report comprises the Optical Emission Spectroscopy Market Share, Size & Industry Analysis, based on Offering (Equipment, Service), Form Factor (Stationary OES, Mobile OES), Product Type (Arc/Spark, ICP (Inductively Coupled Plasma)), Application (Environmental Analysis, Chemical Analysis, Material Analysis, Others), End-User (Metal Manufacturing, Automotive, Aerospace and Defense, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Optical Emission Spectroscopy Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The growing adoption of OES in semiconductor and automotive industries, along with increasing environmental regulations for pollution monitoring, drives market growth, while high operational costs restrain the market.
Segmental Analysis :
Based on offering, the market is bifurcated into Equipment and Service.
- The equipment segment accounted for the largest market share in 2023, driven by advancements in high-resolution optics and multi-channel detection systems for rapid and precise analysis.
- The service segment is expected to grow at the fastest rate, supported by the increasing demand for maintenance and installation services to optimize existing OES systems.
Based on form factor, the market is divided into Stationary OES and Mobile OES.
- The stationary OES segment dominated the market in 2023, attributed to its high performance and precision in analyzing complex materials, making it ideal for laboratory and industrial applications.
- The mobile OES segment is projected to grow at the fastest rate, fueled by its portability and ability to perform on-site analysis with high accuracy.
Based on product type, the market is bifurcated into Arc/Spark and ICP (Inductively Coupled Plasma).
- The Arc/Spark segment held the largest revenue share in 2023, driven by its ability to analyze metals and alloys with high accuracy and speed.
- The ICP segment is anticipated to register the fastest CAGR, supported by its high sensitivity and multi-element detection capabilities for environmental and industrial applications.
Based on application, the market is segmented into Environmental Analysis, Chemical Analysis, Material Analysis, and Others.
- The chemical analysis segment led the market in 2023, supported by its application in rapid materials testing and quality control processes.
- The material analysis segment is projected to grow rapidly, driven by its ability to ensure compliance with manufacturing standards in automotive and aerospace industries.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- Asia-Pacific: Dominated the market in 2023, with China accounting for the largest share, driven by rapid industrialization and advancements in analytical technologies.
- North America: Expected to grow significantly, supported by technological innovations and stringent regulatory compliance requirements.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 1,140.83 Million |
| CAGR (2024-2031) | 6.1% |
| Offering | Equipment, Service |
| Form Factor | Stationary OES, Mobile OES |
| Product Type | Arc/Spark, ICP (Inductively Coupled Plasma) |
| Application | Environmental Analysis, Chemical Analysis, Material Analysis, Others |
| End-User | Metal Manufacturing, Automotive, Aerospace and Defense, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Optical Emission Spectroscopy Industry:
- Hitachi High-Tech Analytical Science (UK)
- Bruker (Germany)
- Shimadzu Corporation (Japan)
- HORIBA Group (Japan)
- Avantes (U.S.)
- Thermo Fisher Scientific (U.S.)
- Agilent Technologies (U.S.)
- SPECTRO Analytical Instruments GmbH. (Germany)
- JEOL Ltd. (Japan)
- PerkinElmer (U.S.)
Recent Industry Developments :
- June 2024: Bruker introduced the Q6 NEWTON benchtop spark OES, enhancing alloy composition analysis for metals manufacturing.
- October 2024: Bruker BioSpin Group acquired Bridge12’s EPR business, integrating advanced spectroscopy technologies into its portfolio.
- January 2024: Shimadzu launched the ICPMS-2040/2050 Series, a spectrometer with advanced features for improving industrial analytical processes.
