The tritium monitor is a special measuring device developed for monitoring activity concentration of tritium in exhaust air and room air. There is an increase in the adoption of tritium monitor due to rise in R&D. These are presently being used as an effluent monitor for the production reactors. This monitor was originally a laboratory instrument but was made into a field unit after a triturated water release incident.
Market Scope and Structure Analysis
Factors such as surge in number of nuclear power plant in countries such as the U.S., China, Saudi Arabia, and UAE contributes toward the production and sales of tritium monitors. This factor is positively driving the market growth. In addition, continuous technological advancements especially in emerging economies is anticipated to provide ample of growth opportunities to the players operating in the tritium monitors market.
COVID-19 Impact analysis
- COVID-19 pandemic has shut down the production of various products in tritium monitors market attributed to the lockdown in countries worldwide. This has hampered the growth of tritium monitors market from the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of tritium monitors market in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
- The major demand for tritium monitors was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for tritium monitors products.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Tritium monitors market manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
- Tritium monitors market are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from tritium monitors market are anticipated to lucrative growth opportunities in the future with the rising demand for tritium monitors in the global market.
- Factors such as rise in number of nuclear power plants in countries such as the U.S., China, Saudi Arabia, and UAE contribute toward the production and sales of tritium monitors. This factor is positively driving the market growth. For instance, Tennessee's Watts Bar Unit 2 is one of the newest nuclear power plant in the U.S. where the usage of tritium monitors were extensively used.
- Rise in a business often requires keeping up with the latest industry trends, including technology. As such, business leaders always need to be on the lookout for new tech that will improve their results and workflow. For instance, technological advancements in the emerging economies like AI and machine learning are revolutionizing how business development teams become hyper-focused on understanding their prospects and clients. From trends to predictive analysis and beyond, access to intelligent data fuels powerful insights about every aspect of the market.
- Furthermore, the tritium monitors are also widely used in the laboratory projects. For instance, NVBL Projects under the U.S. DOE Office of Science (SC) is also using the tritium monitors for monitoring activity concentration of tritium in exhaust air and room air.
Key Benefits of the Report
- This study presents the analytical depiction of the tritium monitors market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the tritium monitors market share.
- The current market is quantitatively analysed to highlight the tritium monitors market industry growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed tritium monitors market analysis based on competitive intensity and how the competition will take shape in coming years.
Tritium Monitors Market Report Highlights
By Product Type
Key Market Players
Mirion Technologies, Inc., Premium Analyze, Berthold Technologies, Gammadata Instrument AB, Ultra Electronics Holdings, Tyne Engineering Inc., Beijing Tai Kun Industrial Equipment CO.,Ltd., LabLogic Systems Ltd., Sartrex.ca., Overhoff Technology Corporation.