Pune, India -- (SBWIRE) -- 07/16/2018 -- The Optical Emission Spectroscopy Market (OES) is estimated to grow from USD 582.2 million in 2018 to USD 792.4 million by 2023, at a CAGR of 6.36% from 2018 to 2023. Optical emission spectroscopy market includes enforcement of stringent government safety regulations and quality control requirements across various sectors, and technological enhancements and increased functionalities.

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The report profiles the key players in the optical emission spectroscopy market, along with their ranking analysis. Thermo Fisher Scientific (US), Ametek (US), Bruker (US), Hitachi High Technologies Corporation (Japan), Shimadzu (Japan), Horiba (Japan), PerkinElmer (US), Agilent Technologies (US), Skyray Instrument (US), and Analytik Jena (Germany). SGS (Switzerland), Bureau Veritas (Japan), Intertek (UK), TÜV SÜD (Germany), and Element Materials Technology (UK) are the major players in the optical emission spectroscopy services market.

APAC expected to hold major market share in 2018"
APAC is expected to hold the largest share of the global optical emission spectroscopy (OES) market in 2018. Continuous advancements in APAC, in terms of economic growth, infrastructural developments, and the automotive industry, are likely to boost the requirement of OES equipment in this region. APAC is a major market for various sectors such as consumer electronics, automobiles, and defense. This region has become a global focal point for large investments and business expansion opportunities. APAC experiences a steady growth in all sectors. In the automobile sector, as of 2016, this region accounted for more than 50% of the overall passenger car production. Strong demand from food & beverages, environmental, automotive, and aerospace & defense industries are expected to contribute to the growth of the OES market in North America. RoW has a strong base of industrial and process-based sectors, such as oil & gas, scrap recycling, and chemicals. Despite the lack of domestic manufacturers as well as high economic and political barriers in the countries in this region, the OES market is likely to witness growing demand from this region during the forecast period.

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Optical emission spectroscopy equipment to hold larger market share in 2018"
OES equipment is expected to hold the largest share of the global optical emission spectroscopy market in 2018. Growing use of portable OES analyzers in metal producing and processing industries, such as metals and heavy machinery, automotive, aerospace & defense, and scrap and recycling industries; and rising use of ICP-OES across food & beverages, chemicals, pharmaceutical, and environmental industries are likely to increase the adoption of OES instruments. The market for services is expected to grow at a higher CAGR during the forecast period. Increasing involvement of third-party service providers such as SGS, Bureau Veritas, and Intertek is likely to drive the overall services market.

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ICP-OES market to grow at higher rate during forecast period"
Arc/spark OES equipment is expected to hold the largest share of the OES equipment market in 2018. However, the market for the inductively coupled plasma optical emission spectroscopy (ICP-OES) equipment is expected to grow at the highest CAGR during the forecast period. ICP-OES offers multielemental determination capabilities by using sequential or simultaneous optical systems (using PMTs or CCDs as detection units).ICP-OES are mainly used in a wide range of verticals, such as environmental labs, pharmaceuticals & life sciences, food & beverages, and oil & gas. Owing to the growing demand from the aforementioned industries, ongoing advancements to reduce operating costs (such as by reducing consumption of purge gas) and improvements in sensitivity and stability of the technology (such as by shifting from echelle type diffraction grating to Optimized Rowland Circle Alignment (ORCA) as in ICP-OES from Spectro by Ametek (US)), the market for ICP-OES is expected to exhibit a higher growth rate during the forecast period.

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