Custom products maintain instrumentation supplier profitability
Instrumentation manufacturers are enjoying sustained demand for their products due to growing product differentiation, higher customization, and overall improved quality. So says a study of World Physical Properties Instrumentation Markets released by Frost & Sullivan . These trends are keeping the industry from settling into lower profit doldrums of mature, commoditized offerings.
End-user industries such as biosciences, pharmaceuticals, food and beverage, and chemicals are driving the overall market. Their demand for more application specific designs, more sophisticated communication, and high quality levels has fueled development of new, higher-performance instrumentation products.
“Industries involved in research as well as quality control applications have become major end-users of these products and a large spectrum of emerging end-users is likely to offer a host of opportunities for these instruments,” notes Frost & Sullivan research analyst Lakshman Koundinya. F&S estimates peg the global instrumentation market at $778.7 million in 2005 with growth projected to $1.06 billion in 2012.
The Pacific rim will pull growth along as industry and infrastructure expand throughout the region, says the study, noting thatthe demand potential in China, India, Taiwan and other Southeast Asian countries is huge with foreign and domestic investment providing the means.
--Control Engineering Daily News Desk
Peter Welander , process industries editor