The market is segmented into five major regions, namely, North America, Europe, the Asia Pacific (APAC), Latin America, and the Middle East & Africa. The market for tensiometer is primarily driven by the need to improve product quality and manufacturing processes, increasing pharmaceutical and biopharmaceutical R&D expenditure, and technological advancements. However, the reluctance to switch from conventional methods and a dearth of skilled personnel will challenge market growth.
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Tensiometer Market is projected to reach USD 151 million by 2024 from USD 103 million in 2019, at a CAGR of 7.9% during the forecast period.
The optical tensiometers segment is expected to dominate the market in 2019.
On the basis of product, the tensiometer market is segmented into optical tensiometers, force tensiometers, volumetric tensiometers, bubble pressure tensiometers, and accessories. The optical tensiometers segment is expected to account for the largest market share in 2019. The large share of this segment is mainly attributed to the large adoption of optical tensiometers in the chemical, oil & gas, energy, pharmaceutical, and material & coating industries in the R&D and quality control of products.
The pharmaceutical & biopharmaceutical segment is expected to grow at the highest CAGR during the forecast period.
Based on industry, the tensiometer market is segmented into chemical, oil & gas, energy, pharmaceutical & biopharmaceutical, medical device, cosmetic, and other industries (includes food & beverage, materials & composite, textile, academic & research laboratories, and paper & packaging industries). The pharmaceutical & biopharmaceutical industry segment are expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the growth in the pharmaceutical market, rising government spending on pharmaceutical R&D in emerging nations, and huge investments in the discovery and development of novel drugs.
The Asia Pacific to hold the largest regional market share in 2019.
The Asia Pacific is expected to account for the largest share of the global tensiometer market in 2019, followed by North America. The large share of the Asia Pacific can be attributed to the growing R&D activities, increasing research collaborations with the US and European countries, and the large adoption of tensiometers in China.
The prominent players in this market are KRÜSS GmbH (Germany) Biolin Scientific AB (Sweden), DataPhysics Instruments GmbH (Germany), Kyowa Interface Science Co. Ltd. (Japan), LAUDA Scientific GmbH (Germany), TECLIS Scientific (France), Apex Instruments Co. Pvt. Ltd. (India), Pro-Pack Materials (Singapore), USA KINO Industry Co. Ltd. (US), and Kibron Inc. Oy (Finland).
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