The global trace moisture generator market was valued at US$ 19.9 million in 2020 and is anticipated to add value worth US$ 6.2 million during the forecast period. The impact of COVID-19 will leave a residual impact, with growth projected at an abysmal 2.7% through 2030. This is largely attributed to latency in end use industries amid stringent lockdowns in many countries. Trade suspensions to prevent the spread of COVID-19 has drastically impacted the market, resulting in a sharp dip in overall revenue.
Plunging demand in microelectronics, petrochemical & chemical industries pose a serious threat of momentum loss in the trace moisture generator market. However, on the contrary, upsurge in the demand for medical gases amid COVID-19 pandemic is expected to create significant opportunities in the market, as it is mandatory to manufacture medical gases with minimum level of moisture as per international standards. On the back of this trend, the trace moisture generator market is poised to expand by 1.3X during the forecast period (2020 – 2030).
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Key Takeaways of the Trace Moisture Generator Market
The following are excerpts from Fact.MR’s exhaustive compiled study on the trace moisture generator market:
- Close to 9/10th of the revenue generated in the global trace moisture generator market will be accumulated by stationary trace moisture generators. At the same time, portable trace moisture generator product segment will grow 1.2X more than stationary trace moisture generators
- Microelectronics and R&D labs end use will account for an equal share and will collectively cover 2/5th of the revenue pie of the global trace moisture generator market by the end of the forecast period (2019 – 2029).
- Pharmaceutical & medical gas and chemical industry end use is projected to show notable growth during the forecast period to be valued at US$ 1 million owing to rapid introduction of drugs & specialty chemicals to meet future demands.
- Europe will become the market leader and will account for more than 1/3rd of the total revenue of global trace moisture generator market by the end of forecast period.
- Asia Pacific will show resilient growth through 2029 and is likely to cover largest revenue share by the end of forecast period.
“Global trace moisture generator market will create enormous opportunities, as prominent players in the industry are focusing on innovative approaches which cater to increasing demand from end use sectors.” Says the Fact.MR analyst.
Prominent Players Focus on Innovation for Sustained Growth
The demand of trace moisture generators capable of generating moisture up to levels as low as nmol/mol (ppb) is growing significantly owing to increased demand of end use industry applications. Manufacturers have strengthened their research & development base in order to deliver solutions as per the requirements of their customers. For instance, market leader Kin-Tek Analytical Inc. introduced a portable trace moisture generator (Span Pac H2O System) which can generate moisture at very low levels such as 10 parts per billion. At the same time, InstruQuest Inc. introduced a trace moisture generator (HumiSys LDP) which can operate at temperature dew point as low as -90oC.
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Key Segments of the Trace Moisture Generator Market
Fact.MR’s study on the trace moisture generator market offers information divided into three key segments-product, end Use and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
- End Use
- Petrochemical Plants
- Pharma & Medical Gas
- Chemical Industry
- R&D Labs
- North America
- Latin America
- East Asia
- South Asia & Oceania
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More Valuable Insights on Stationary Trace Moisture Generators Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Stationary Trace Moisture Generators, Sales and Demand of Stationary Trace Moisture Generators, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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