CLEVELAND, March 5, 2021 /PRNewswire/ — US demand for analytical instruments is forecast to expand 6.4% annually in nominal terms through 2025, according to Analytical Instruments: United States, a report recently released by Freedonia Focus Reports. Suppliers are projected to benefit from growth in research and development (R&D) expenditures as well as in manufacturers’ shipments, including aerospace equipment, beverages, chemicals, electronics, machinery, and pharmaceuticals. Rapid technological innovations will continue to boost demand for new instruments capable of providing higher-quality data. In addition, adoption of instruments that feature wireless network connectivity is continuing to expand. However, while US manufacturers are dominating the high-end market, faster gains in value terms will be prevented by import competition among lower-end products, including imports of analytical instruments as well as imports of products requiring the use of those instruments during production.
In 2021, demand is expected to surge 17% as the market recovers from the impact of the COVID-19 pandemic. R&D spending is projected to increase 4.1% that year, up from 1.2% growth in 2020. Nonresidential fixed investment is forecast to expand 3.4% in 2021, a reversal from 3.8% declines in 2020. Finally, manufacturers’ shipments are expected to grow 5.7% in 2021, a reversal from a 7.5% decline in 2020.
These and other key insights are featured in Analytical Instruments: United States. This report forecasts to 2021 and 2025 US analytical instrument demand and shipments in nominal US dollars at the manufacturer level. Total demand and shipments are segmented by product in terms of:
- laboratory instruments
- process control instruments
- electrical measuring instruments
- other instruments such as those for materials testing, meteorological observation, and surveying
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2010 to 2020.
Analytical instruments consist of devices used for scientific research and industrial processes. Excluded from the report are diagnostic and therapeutic equipment, gauges and counting devices, search and navigation equipment, commercial and household appliance controls, irradiation equipment, watches and clocks, and optical instruments and lenses. Re-exports of analytical instruments are excluded from demand and trade figures.
More information about the report is available at:
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Healthcare & Biotechnology reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
View original content to download multimedia:http://www.prnewswire.com/news-releases/rising-rd-spending-manufacturers-shipments-to-drive-us-demand-gains-for-analytical-instruments-301241270.html
SOURCE The Freedonia Group