New study claims that nearly 65% of XRF analyser sales accounted by handheld instruments

XRF analyser sales surpassed US$ 2.2 billion in 2018, and will reportedly increase by approximately 5.3% annually, in 2019. A newly published research outlook, from Future Market Insights, has projected promising revenue growth prospects for the global XRF analyser market over the course of upcoming years.

While the XRF analysers demand within Asia Pacific (excluding Japan) will continue to account for nearly a quarter of the global market value, the report also highlights robust growth in the market value share of developed regional markets of North America and Europe, which currently equates nearly 2/5thof the global XRF analyser market revenues.

According to analysis, a majority of XRF analyser adoption will prevail in metal & mining industry, followed by the pharmaceutical industry. The oil and gas industry is also cited as one of the key end-use industries for XRF analysers in the near future.

With steady growth of the mining industry and resurgence of the oil and gas industry, it is highly likely that the demand for instruments such as XRF analysers will prevail at a significantly high pace in coming years. Metal and mining, collectively with oil and gas, are likely to account for more than 45% of the total demand for XRF analysers that has been estimated for 2019.

In the wake of waning popularity of benchtop XRF analyser instruments that are subsequently leading to their dwindling sales, the market has been witnessing soaring preference for the high convenience offered by handheld/portable XRF analysers. According to the report, portable or handheld XRF analysers currently account for nearly 65% of overall sales and are anticipated to demonstrate healthy growth potential through years to come.

The report opines that key features such as light weight, portability, and convenient usage will continue to attract more sales opportunities for portable or handheld XRF analysers to use on field, over the benchtop variants.